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Hong Kong Incorporated Company

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SYNOPSIS

Hong Kong is on the south east 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 became a Special Administration Region ‘SAR’ within the People’s Republic of China (PRC).

An Incorporated Company in Hong Kong has the following characteristics :

  1. Shareholders:
    A minimum of one shareholder is required for a Hong Kong Incorporated Company whose details are filed on the public register. Corporate shareholders are permitted and anonymity can be achieved by the use of nominee shareholders. Bearer shares are not permitted.
  2. Directors:
    A minimum of one director is required for a Hong Kong Incorporated Company and can be of any nationality or can be a corporate director. Full details of the Director must be filed with the Public Registry. There is no requirement for board meetings to be held within Hong Kong and directors may be resident anywhere in the world.
    As the director is legally responsible for compliance with the Hong Kong Companies Ordinance and the Inland Revenue Ordinance, in cases where we / our nominee act as a director, an amount of US $2,500/- will have to be deposited in order to guarantee such compliance. This amount may be returned when business operations cease and the company has been wound up in the manner required by law.
  3. Officers/Secretary:
    A Hong Kong Incorporated Company must appoint a company secretary, who may be a natural person or a body corporate, but the company secretary must be resident in Hong Kong.
  4. Restrictions on name & activity of a Hong Kong Incorporated Company:
    Names which suggest any connection to the head of state are generally prohibited in a Hong Kong Incorporated Company and certain words which suggest specialist activity can only be used when the appropriate licenses have been obtained e.g. bank, insurance company and other specialist financial enterprises.
  5. Local Requirement of a Hong Kong Incorporated Company:
    As a matter of local company law the Hong Kong Incorporated Company MUST maintain a registered office address within the jurisdiction of incorporation and must also appoint a local resident company secretary. The secretary Hong Kong Incorporated Company cannot be the sole director of the company. We would generally provide these services as part of the domiciliary service fee.
    A Hong Kong Incorporated Company must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the directors. Every company must appoint an auditor who must be a member of the Hong Kong Institute of Certified Public Accountants and hold a practicing certificate.
  6. Timescale in Setting Up Hong Kong Incorporated Company:
    Setting Up a Hong Kong Incorporated Company takes around 2 weeks (or 4 weeks if a Chinese representation of the name is to be included on the Certificate of Incorporation) but ready- made companies are available for immediate purchase.
  7. Annual Reporting:
    Hong Kong Incorporated Companies are required to file full audited accounts (exempted if gross income is below HKD 2 million p.a.) and must also prepare and file an annual return which gives details of the current directors and of the shareholders who have held shares in the company at any time during the year.
  8. Hong Kong Incorporated Company Taxation:
    The rate of taxation is 16.50% on Hong Kong source income only. In practice this means that, with careful structuring, as long as a Hong Kong company is not actually doing business in Hong Kong it would normally be possible to arrange the affairs of the company so that no tax would be payable. For further information on same, you may refer to http://www.gov.hk/en/residents/taxes/taxfiling/taxrates/profitsrates.htm
  9. Hong Kong Incorporated Company Confidentiality
    Beneficial Owners of a Hong Kong Incorporated Company is not available to the public.

10. Company Renewal:

Renewal of a Hong Kong Incorporated Company, falls every anniversary date of incorporation. Failure to do so results in penalties and could result in the striking-off of the company from the Company Registry.

Latest valid passport copy and recent utility bill for address proof of shareholder/director are required to be submitted at every renewal as a part of enhanced due diligence. If shareholder is a corporate entity, then latest certificate of incumbency and above stated docs of directors would be required.

11. Documents Required in Setting Up a Hong Kong Incorporated Company:

KYC Documents for individual Director/Shareholder:

  1. Passport – original to be verified personally in our office, otherwise client can provide an original notarized copy of the passport
  2. Proof of address (in the form of utility bill, dated less than 3 months)
  3. Bank reference (dated less than 3 months with satisfactory record clearly mentioned and also the time period the client has been dealing with the bank: minimum of 2 yrs)
  4. Detailed CV
  5. Professional reference letter (can be issued by Lawyer or Certified Public Accountant)
  6. Dully filled FATCA Form
  7. Notarized US Declaration (if a US Person)

KYC for Corporate Director/Shareholder:

  1. Certificate of Incorporation
  2. Registered address and place of business
  3. Certificate of Current Standing if incorporated more than 1 year
  4. Register of Directors
  5. Memorandum & Articles of Association

All documents of the corporate entity must be certified by a Lawyer or Certified Public Accountant

Incorporation of a Hong Kong Incorporated Company begins from USD 3,320/-

Global Business Services DMCC has helped many individuals and corporate entities to set up a Hong Kong Incorporated Company. Our Company acts as a one stop solution for Hong Kong Incorporated Company registration services.

If you are looking for Hong Kong Incorporated Company set up, please get in touch with us for professional assistance.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

GBSOur Office
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+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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