Hong Kong

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General information
Hong Kong is on the southeast coast of China and consists of a large number of islands and a part of the mainland totaling approximately 1,064 sq km. On 1 July 1997 all of Hong Kong reverted from British control back to China and become a Special Administration Region “SAR” within the People’s Republic of China (PRC). Under the “one – two systems” philosophy, the SAR has executive, legislative and independent judicial power.
The legal system of Hong Kong is English Common Law supplemented by locally enacted Ordinances.

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Currency
Hong Kong Dollar

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Language
The official languages are English and Chinese, with English being used in the commercial and political context and Cantonese Chinese used widely in industry and domestic trade

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Type of company:
LTD Company

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The name must be in Latin alphabet and must end with the word “Limited” or “Ltd”.  Names implying or conveying an involvement in banking or insurance operations require consent

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A  registered office must be maintained in Hong Kong and must appoint Hong Kong resident as Registered Agent

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Zero tax on all income sourced outside Hong Kong

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Tax on Offshore Profits:
17.5% tax on all income sourced in Hong Kong

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Annual Franchise Tax:
USD 380

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Double Tax Treaty Network:
Hong Kong has no double tax agreement with any country.

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Trading Restriction:
Cannot undertake banking or insurance activities or solicit funds from or sell its shares to the Public

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Shareholders:
Minimum of one (1)

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Disclosure of Shareholders:
Yes

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Disclosure of Beneficial Owner:
No

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Directors:
Munimum of one (1)

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Local Directors required:
No

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Corporate Directors Permitted:
Yes

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Disclosure of Directors:
Yes

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Yes (must be resident of Hong Kong)

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HKD10,000

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Bearer Shares allowed:
No

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Confidentiality:
The details of  shareholders and directors must be maintained on public record, but anonymity is retained by use of nominee shareholders and directors.

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