HONG KONG COMPANIES REGISTRATION

Country’s geography & information in brief: Hong Kong is a Special Administrative region of the  People’s Republic of China, it was a former British colony, which date of lease expired at the end of the 90-ies of the last century. National currency – Hong Kong dollar. Population is about 6,5 million people.

Entity type: Private company limited by shares

Directors: Minimum number – one. Directors may be private or legal persons, residents of any country.

Shareholders: minimum number – one. Shareholders may be private or legal persons, residents of any country.

Secretary: Minimum number – one. The director can’t be a secretary, if he is the sole director. Can  be private or legal persons. Company Secretary must be a resident of Hong Kong.

Authorized capital: Standard declared capital is of 10 000 HKD (approx. 1300 USD) to register a Hong Kong Company.

Names’ restrictions: name shall end with “Limited” or “Ltd”. Names containing such words as Asset Management/Manager, Bank/Banking, Broker/Brokerage, Capital, Credit, Currency, Custodian/Custody, Dealer/Dealing, Deposit, Derivative, Exchange, Fiduciary, Finance/Financial, Fund, Future, Insurance, Lending/Loan/Lender, Option, Pension, Portfolio, Reserves, Savings, Security, Stock, Trust/Trustee & their derivatives are not allowed without special consent.

Requirements: for a Hong Kong Company is a must to have a registered address & and a resident Company Secretary in Hong Kong.

Information about the beneficiary: the register of directors & shareholders in Hong Kong is public. Information about the beneficial owner may be provided only to the registered agent & are kept private.

Audit & financial reports: it’s necessary to keep books, prepare & file annual return, financial statements.

Taxation: taxation rate for Hong Kong Companies of income received abroad is 0%. Profits gained on the territory of Hong Kong are liable to 16,5% tax rate.

Constituent documents set: Certificate of Incorporation, Business Registration Certificate, Memorandum & Articles of Association, Subscriber’s Appointment of the First Director, Share certificate.

Nominee service: allowed.

Transfer of an alien Hong Kong Company to Midland Consult service: possible, but only with consent of the previous registered agent in Hong Kong.

Currency control: no

Taxation: for detailed information about taxes & fees please visit Inland revenue of Hong Kong government web-site.

Additional information: Hong Kong Companies are due to file annual report containing information about its subscribers, directors & some other data to the Companies House. A Hong Kong local licensed accountant, subject to the local audit laws, is to audit accountant documents when preparing an active report.

If a company carries out its business in Hong Kong it is liable to 16,5 % tax rate.