Hong Kong Incorporated Company
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Hong Kong Incorporated Company
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 Features
The name can be in English, in Chinese or in both English and Chinese. The company name must end with the word “Limited” or its equivalent in Chinese characters.
- Minimum: 1
- Residency Requirements: None
- Corporate Shareholder: Permitted
- Details of shareholders are available to the public
There is no limitation on the number of issued shares. Shares of a Hong Kong company have no par value. No capital duty is payable to the Government for the incorporation.
- At least one director who is a natural person
- Other appointed directors can be corporate
- Residency Requirements: None
- Details are available to the public
A Hong Kong 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.
Information on controllers, otherwise known as beneficial owners, is not accessible by the public inspection.
Yes, Company must appoint an approved local registered agent.
- Proper books of account must be kept by the company and accounts prepared including a standard report by directors.
- Accounts must be audited by a Hong Kong certified public accountant meeting the requirements of Audit Ordinance.
- The audited accounts need to be prepared within six months of the end of the company’s accounting financial period.
- Audited accounts are not filed publicly, however, are required to be filed with the Inland Revenue Department
- A Hong Kong company is only taxed on its profits arising in or derived from a trade or business carried on in Hong Kong.
- There is no tax on dividends paid by a company otherwise chargeable to profits tax. Local tax law does not discourage the accumulation of profits in a Hong Kong company.
- No tax on accumulated earnings and profits and no requirement that a dividend must be paid.
- Apart from profits tax, there is also a personal income tax and a property tax in Hong Kong, both of which should be taken into account when establishing a company.
Foreign companies being manage and control in the UAE are subject to UAE Corporate Tax and required to register within 3 months from date of incorporation.
Incorporation of a Hong Kong company takes around 2 weeks
Renewal of company, falls every anniversary date of incorporation
Documents Required in Setting Up a Hong Kong Incorporated Company
KYC Documents for individual Director/Shareholder:
- Passport – original to be verified personally in our office, otherwise client can provide an original notarized copy of the passport
- Proof of address (in the form of utility bill, dated less than 3 months)
- 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)
- Detailed CV
- Professional reference letter (can be issued by Lawyer or Certified Public Accountant)
- Dully filled FATCA Form
- Notarized US Declaration (if a US Person)
KYC for Corporate Director/Shareholder:
- Certificate of Incorporation
- Registered address and place of business
- Certificate of Current Standing if incorporated more than 1 year
- Register of Directors
- Memorandum & Articles of Association
All documents of the corporate entity must be certified by a Lawyer or Certified Public Accountant
Hong Kong Incorporated Company - Cost
Incorporation of a Hong Kong Incorporated Company begins from USD 4,550/-
Global Business Services FZCO 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.
Why Choose GBS for Company Formation Services in UAE?
Understanding Clients’ Needs
As the best business setup consultancy firm in UAE, our team provides thorough analysis of client requirements and offers a personalized approach tailored to meet each client's needs.
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For company formation service in UAE, we offer flexible pricing and cost transparency with top of the line multiple payment options, including online payments and bank transfers
Years of Expertise
Global Business Services FZCO holds years of expertise while offering unmatched guidance and support when starting your new venture.
Work Track Record
As a prominent business advisor and consultant, GBS boasts a world-class track record, successfully supporting many firms across various industries.
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I had a fantastic experience with the Global Business Services FZCO. their team was knowledgeable, professional, and efficient. they guided me through the entire process of establishing my business. I highly recommend their services to anyone looking to set up a business in Dubai.
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