Hong Kong Incorporated Company

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.