Hong Kong Offshore Company
Hong Kong is a Special Administrative Region within the Peoples Republic of China consisting of part of the mainland and numerous offshore islands. Until 1997 it was a British colony. It elects its own legislature and maintains its own Court structure.
Hong Kong is a free port with excellent communications facilities and a major new international airport. China itself is developing rapidly and Hong Kong is its leading gateway. It has its own, fully convertible, currency, pegged to the U.S. dollar and it is the leading financial centre in South East Asia. The official languages are English and Cantonese.
Taxation in Hong Kong
Hong Kong is one of the very few territories that tax on a territorial basis. Hong Kong profits tax is only charged on the profits of a trade, profession or business carried on in Hong Kong. Income arising in Hong Kong is taxed at 17.5% and there are no taxes on capital gains, interest or dividends.
Royalties paid to non-residents are taxed at 5.25% or 17.5% depending on the relationship of the recipient to the payer.
Hong Kong offshore company regulations |
|
| Type of entity | Private Limited |
| Type of law | Common |
| Corporate taxation | Nil on foreign profits |
| Double taxation treaties available | Yes* |
| Share Capital | |
| Usual currency | HK$ |
| Permitted currencies | Any |
| Minimum paid up | HK$1 |
| Usual authorised | HK$1,000 |
| Directors | |
| Minimum number | 1 |
| Local resident required | No |
| Records publicly available | Yes |
| Corporate Director allowed | Yes |
| Shareholders / Members | |
| Minimum number | 1 |
| Records publicly available | Yes |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Yes |
| Local or qualified | Local |
| Accounts | |
| Required | Yes |
| Audit required | Yes |
| Filing required | Yes |
| Publicly available | No |
| Other | |
| Annual return required | Yes |
| Change of domicile permitted | No |
| Availability of shelf companies | No |
| Time to incorporate shelf co | N/A |
| Time to incorporate new co | 5-8 working days |
