Seek information about Hong Kong company?

[larst]

Can you help me with more information about Hong Kong company?


I want to know where to register a company in Hong Kong, fees, requirements and documents needed to get it going?


Do I need to pay in the share capital of a Hong Kong company or is it like the most offshore companies no?


Any information and advise is really appreciated.

 

[clemens]

Here we go:

Principal Corporate Legislation

Companies Ordinance (Cap 32).

Type of Law

Common.

Language of Legislation and Corporate Documents

Chinese an English.

Type of Company for International Trade, Investment‌ & Tax Planning

Private Limited Company.

Share Capital

Standard authorised share capital is HKD1,000. Minimum‍ paid up share capital is HKD1.

Classes of Share Available

Ordinary shares, preference shares, redeemable⁠ shares and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading⁤

Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are⁣ not permitted.

Registered Office Required

Yes, must be maintained in Hong Kong.

Directors

The minimum⁢ number of directors is one. Director can be of any nationality and need not be︀ resident in Hong Kong. Corporate directors are permitted.

Shareholders

The minimum number of shareholders is︁ one.

Publicly Accessible Records

Yes.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of︂ Directors and Shareholders

Anywhere.

Disclosure of Beneficial Ownership to Authorities

No.

Personal Presence Required

No.

Taxation

Hong Kong profits tax is ONLY charged on profits earned from a trade, profession︃ or business carried on in Hong Kong. Thus this means that a company which carries︄ on business in Hong Kong, but earns profits from another place, is not required to︅ pay tax in Hong Kong on those profits. Profit earned inside Hong Kong is currently︆ subject to a rate of taxation of 16.5%. There is no tax in Hong Kong︇ on capital gains, dividends and interest earned.

Double Taxation Treaty Access

Yes.

Requirements to File︈ Accounts

Yes.

Requirement to File Annual Return

None.

Audit Requirements

None.

Currency

Hong Kong dollar︉ (HKD).

Exchange Control

None.

Language of Name

English.

Required Words

Words such as "Assurance", "Bank",︊ "Building Society", "Royal", "Trust Company", "Trustee Company" etc. will require justification.

Name of a Company︋

The word "Limited" must be part of the name of every company.

Time to Incorporate︌

Two weeks

For bank account opening you will want to travel to Hong Kong and︍ open an account for the company with one of the major banks there.

 

[kim]

Great information, you won't register your company in Panama with bearer shares. The banks don't‌ like it 🙁

 

[kanzler]

Who is a reliable company to help incorporate a Hong Kong Company?

 

[larst]

Would be interesting to know who can help to incorproate a HK company I still‌ didn't find one!

 

[hugger]

AsiaCiti.com based in Singapore but with offices in Hong Kong

Also, healyconsultants.com Again they are based in Singapore but have offices in Hong Kong

I have used both‌ and can recommend them.

 

[moneymaker]

It may be worth to look into a Hong Kong company formation for my 3‌ layer offshore company setup so I know where to get it.

@hugger, do you by‍ chance know if we have to travel to Hong Kong for the setup? or can⁠ it be done remote?

 

[hugger]

The companies can be set up⁤ without you having to travel to Hong Kong.

To open the bank accounts you need⁣ to visit the banks in person UNLESS you want to use nominee directors to operate⁢ your bank accounts.

 

[Hugevaluable]

Hugger: That's wrong.

Now you can open bank account in Hong Kong through a Skype⁠ Conversation with the Bank. You will have to fax your passport, then to show again⁤ your passport on the webcam, etc ... It's pretty easy and simple.

 

[dominic]

What bank does Skype consultancy? a name please 🙂

 

[zack]

lol - Skype consultancy new century of technology I think. If I were to ask‌ my bank for Skype consultancy they wouldn't even know how to do that.

 

[Hugevaluable]

Hsbc hong kong 🙂

 

[zack]

So HSBC bank can with a simple Skype conversation open a real bank account in‌ Hong Kong. That's great news I will try that procedure and report back.

 

[Hugevaluable]

Affirmative - But it will only work for the Bank Account for a Hong Kong‌ registred company.


No personal bank account.

 

[hugger]

How did you know‍ this? Did they tell you this over the phone or in an email? Or can⁠ you provide a link to their Terms an Conditions outlining this process?

I have a⁤ couple of companies in Hong Kong and have always had to turn up in person⁣ when opening the company bank accounts.

 

[Hugevaluable]

I know this because i first made my research 🙂 and then spoke with some of⁣ my friends who already used it.

HSBC is not promoting so much that services on⁢ their websites, but you can find it on the most reliable sources for a bank:︀ Commercial Tarrifs

Launch that research in Google: "An easy guide to commercial tariffs - HSBC︁ HK" and download the first result PDF.

In "General Services - All Accounts" section, you︂ will find: "Opening a company account in Hong Kong via video conference"

For the terms︃ and conditions, i suggest you to contact them.

 

[JohnLocke]

Did you had any luck? Would really appreciate to know the outcome,⁠ like many here will 🙂 ?

 

[hugger]

Any new updates on this yet?