Legislation – The Companies Ordinance (Chapter 32 of the Laws of Hong Kong).
Company name – The name may be in English, Chinese or in both languages and must end with the word ‘Limited’ or its equivalent in Chinese Characters.
Time-scale for incorporation - 3 Weeks.
Disclosure of beneficial owners must be reported to the Companies Registry and the Financial Services Commission but are not available to the public.
Double tax treaties currently with 26 countries, including India, People’s Republic of China, Indonesia, South Africa, UK, France, Germany and Cyprus.
Shelf companies are available.
Money laundering legislation is in existence.
Local Requirements
Registered Office and Registered Agent must be maintained. A postal address is not permitted.
Company Secretary must be appointed. May be a natural person or corporate body resident in Hong Kong.
Public recording of shareholders, directors, secretary, registered office, auditor, issued share capital and the memorandum & articles of association are filed at the Company Registry but not available to the public
Accounts must be audited by resident auditor and records must be properly kept and maintained. audited financial statements are required.
Corporate Requirements
Minimum number of shareholders - One (1). May be a natural person or a corporate body, and need not be resident in Hong Kong.
Minimum number of directors - One (1). Individual or corporate directors are permitted, and need not be resident in Hong Kong.
Minimum capital requirement - HK$0.02.
There is no minimum authorised share capital requirement.
Bearer shares are not permitted.
Annual Requirements
Annual return and annual statutory meetings are required, together with an Annual Return fee of HK$105.
A Business Registration Certificate is required. Currently there is an annual fee of US$375 payable within one month from date of incorporation.
Statutory accounting is required.
Taxation – Hong Kong companies do not have to pay Hong Kong tax on foreign source profits. However, a rate of 17.5% as taxable profits is applicable to corporations based on Hong Kong source of income only.
