Company registration in Hong Kong (LTD)
Incorporation of companies in different countries is a favourable strategy for entrepreneurs with international business. Intelligent Solution Group lawyers help to register an international company with Hong Kong account opening.
Hong Kong as a place to register a business
Hong Kong is one of the largest financial centres in Asia, ranked 4th in the world as of September 2022. This is facilitated by the financial policy of Hong Kong, which is built on the principles of an open market and aimed at attracting foreign investors:
- territorial taxation 0 if not doing business in Hong Kong;
- business can be managed from anywhere in the world;
- 100% foreign ownership of the company is allowed;
- favourable location for international trade; company can be incorporated remotely (but personal presence may be required to open a bank account);
- the ability to conduct transactions in different currencies;
- visa-free regime for representatives of 170 countries, making it easy for non-residents to do business in Hong Kong.
The Hong Kong government has signed many agreements to avoid double taxation, to achieve full tax independence from China, to maximise simplicity and reduce the cost of opening and registering a foreign company in Hong Kong.
The most popular business areas are: wholesale and international trade, logistics, IT, Fintech.
Incorporation of a company in Hong Kong
Intelligent Solution Group will help with company registration in Hong Kong. The work is done in a few steps:
- Meet with Intelligent Solution Group online or offline to clarify the client's objectives and requirements. This will help in selecting the best type of legal entity. Most often foreigners in Hong Kong register a limited liability company (LTD). We study the case, geography and counterparties in detail.
- Choosing a name: it should not only be favourable from the marketing point of view, but also comply with all the rules accepted in Hong Kong. Otherwise, registration will be refused. For example, only Chinese or English can be used in the name, if the form of the company - LLC, the name must end with LTD or Limited.
- Submission of the application for registration and a package of constituent documents. Specialists of Intelligent Solution Group will help to draw up all the documents so as to get approval at once.
- Consideration of the application by the registrar, obtaining a certificate of incorporation and a permit to operate.
- Account opening. We help you prepare and submit documents to the bank. We go through all AML and KYC procedures together with you, accompany the work with the account.
- If necessary, we take over the accounting support of your company.
Intelligent Solution Group specialists in the process of registration and running a ready-made business in Hong Kong in 2023 will help to minimise the time and effort spent on bureaucratic complexities associated with the paperwork.
Structure of the company LTD
To register a company with an account in Hong Kong, a company must fulfil the following requirements:
- minimum 1 director, it can be a founder, the board of directors can include foreigners, different legal entities, but at least 1 of the directors is a natural person;
- from 1 to 50 shareholders, fully foreign participation is allowed; secretary (local company or resident);
- authorised capital from $1;
- Hong Kong registered office;
- information on the officers of the firm must be on the Register of Enterprises;
- a shareholders' meeting must be held regularly (at least once a year) in online, offline or mixed format.
In addition, any company incorporated in Hong Kong must file annual financial statements with the regulator and be audited.
Taxation in Hong Kong
The territorial principle of taxation applies. The main requirement is that the company does not do business with other legal entities in Hong Kong and does not have a bank account here. Such a company, after inspection by the tax authorities, is considered non-resident and is exempt from paying income tax.
- There is zero withholding tax on dividend payments.
- Capital gains are not taxable.
The company receives a tax number upon registration.
My data is placed in the General Register. Will it be protected?
Why do I need legal help?
Although Hong Kong law is based on English law, it has many peculiarities and subtleties that must be taken into account. Specialists of Intelligent Solution Group provide the following legal services for business:
- collection of documents, execution of papers in accordance with the requirements of the legislation of the country of incorporation, the company;
- submission of documents for company registration;
- receipt of registration documents and their transfer to the client;
- obtaining licences for financial activities;
- opening a bank account;
- opening an account in a payment system.