“Hong Kong is a regional base for expansion across Asia. Stable, business-friendly and cosmopolitan”, is how Hong Kong’s business promotion organisation InvestHK promotes the city. It wants Hong Kong to be seen as a Chinese hub, but also as a gateway to Asia’s business environment. Indeed, there are about 1,000 daily flights between Hong Kong and the rest of the world. What else is there?
1. Great for startups – Hong Kong offers a good climate for startups. A recent survey conducted by HKInvest showed that the number of new startups has risen sharply in 2014. 1,558 new startups were registered, up 46 per cent compared to a similar poll done a year ago. Top sectors included Information, Computer and Technology taking up 19 per cent, Hardware (IoT, prototypes and wearables) accounting for 14 per cent (compared to only five per cent a year ago) and E-commerce/Supply Chain Management and Professional or Consultancy Services, each taking up 10 per cent.
2. Location - Hong Kong offers easy access – commercially and geographically – to Mainland China business opportunities. The Pearl River Delta (PRD) region is immediately to the north of Hong Kong and business people commute regularly and easily between the two.
3. Government support – Hong Kong’s government wants your business and is prepared to offer incentives, with programmes designed to help overseas and local SMEs set up in Hong Kong. Part of Hong Kong’s appeal is built on political stability, the rule of law, free market principles, free flow of information, and English as the language of business. More pros: there are no foreign ownership restrictions and HK offers free movement of capital, talent, goods and information and a fully convertible Hong Kong dollar separate from the Renminbi (RMB).
4. Tax is a breeze - According to the 2015 Paying Taxes study of 189 economies, Hong Kong has one of the most tax-friendly economies in the world. There is a simple tax regime, profits tax is capped at 16.5 per cent, salaries tax is a maximum of 15 per cent, and property tax is 15 percent. Hong Kong has no sales tax or VAT, no withholding tax, no capital gains tax, no tax on dividends and no estate tax.
5. Free trade - For the past 21 years Hong Kong has been ranked as the ‘World’s Freest Economy’ by the Heritage Foundation/Wall Street Journal. Hong Kong scored particularly well on business, trade, financial and labor freedoms. Hong Kong’s natural deep water port and trading history has made the city one of the world’s major international sea and air cargo hubs, accounting for almost a third of exports in and out of Mainland China. Hong Kong also handled nearly 4.4 million tonnes of airfreight in 2014.
6. The right people - Recruiting well-educated local staff is easy. Almost all business professionals speak excellent English. The Hong Kong University was ranked the second in Asia in the 2014-15 QS World University Rankings. Hong Kong’s business schools are also world-renowned. Hong Kong’s immigration policies are designed to attract overseas professionals, talent and investors. Policies are family friendly and expatriate employees can normally bring their spouse and dependent children.
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (MainlandChina and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China
Requirements of Hong Kong Company Formation
If the shareholder is a corporation, need to provide Business Registration certificate copy.
Company Secretary must be ordinarily reside in Hong Kong or Hong Kong Limited Company, like UWS, to handle on-going statutory compliance matters.
Registered address of the Company must be located in Hong Kong
There shall be at least one shareholder and natural director over 18 years old, Shareholder and director can be the same person and can be of any nationality
Processing Times of Hong Kong Company Formation• Online applications for Hong Kong Company Incorporation can normally be processed within a day
Paper applications will take 5 working days to get the Certificate of Incorporation and Business Registration Certificate.
Required Information for Hong Kong Company Formation
Proposed company name (please provide at least 2-3 choices). Company Name must be unique and can be in English or Chinese or both.
Passport copy and residential address (in English) of shareholders and assigned Director.
Amount of share capital, and percentage of shareholdings; if there is more than one shareholder. HK$10,000 divided into 10,000 shares of HK$1 each is the most common and Minimum subscribed share capital is HK$1
Hong Kong Company Formation Procedures:
Step 1
Client engages the services of Uni-World Services.
Full information required is sent to us by fax or email.
Step 2
Payment receipt of company formation service fees to be submitted.
Step 3
Necessary documents and forms will be sent to client for shareholder’s and director’s signature.
Step 4
Upon the receipt of the signed documents, the application for the Certificate of Incorporation (CI) and Business Registration Certificate (BR) will be submitted to the Company Registry of Hong Kong. (The Certificate of Incorporation will be issued within 5 working days.)
Step 5
The order for making company seal & chop will be placed.
Step 6
Open bank account
The official establishment of the company is finally completed.
Hong Kong Company Secretarial Service
Under the Companies Ordinance (Cap. 32) of the Laws of Hong Kong, a limited company incorporated in Hong Kong should appoint a company secretary, to perform the legal liability of the company, which includes declaration of relevant organisation structure, changes of shareholders and directors to the Companies Registry, as well as contemplation of the agenda of company meetings for Board of Directors, preparation of annual general meetings of shareholders and provision of professional advisory service and advice on relevant statutory ordinances.
Our Services Include:
Preparing and keeping statutory records, such as register of shareholders and register of directors, etc.
Arranging and attending meetings of directors and shareholders, and preparing minutes of meetings
Preparing and submitting statutory documents, including annual return form
Preparing and submitting application for business registration certificate
Assisting in opening bank account
Assisting in applying for Hong Kong work visa
Deregistering the company and suspending applications for activities
Providing relevant advice on company liquidation and bankruptcy
Hong Kong Company Bank Accounts
After incorporating company, you may consider to open bank account or not depending on your company’s actual circumstances.
Local Accounts Documents Required:
Director(s)’s Passport, address proof
Business Registration Certificate
Certificate of Incorporation
Statutory record
Common Seal and stamp
Shareholder(s)’s passport and address proof
Relevant business proof are *Essential*
• Business Plan and/or Product Brochure
• Buyer and Supplier’s contract
• Shipping documents e.g. Packing List, Commercial Invoice and Bills of Lading etc.
• Company Business Card
Director(s) should go to the bank in person to sign the bank documents:
Hong Kong banks generally require the directors (at least 2 if more than 2) to visit the bank in person to open an account. Account signatories or a company director (if from Mainland China you must hold a Chinese passport or travel permit) should bring company documents and related materials as mentioned above to open an account in Hong Kong or Macau.
UWS Banking Services:
Communicate with you in preparing documents required
Review all supportive documents
Understand your business mode
Submit required documents to banker and arranging bank meeting.
Advice on answering bank interview questions shortly before your meeting with bank.
Accompany you to bank for opening bank account.
Follow up with bank closely.
We are experts in Hong Kong company registration, and will get your Hong Kong company up and running with the minimum of hassle for you. You do not even need to be in Hong Kong for us to do this for you
Contact Tom Lee now for setting up your Hong Kong company
Email: tomlee@tommyconsulting.com,
tomlee_cn@163.com,
WhatSapp/Wechat/Cell Phone: +86 18926401128, Skype: tomleeli
Tel: 86-755-25809219,Fax: 86-755-83256658
WhatSapp/Wechat/Cell Phone: +86 18926401128, Skype: tomleeli
Tel: 86-755-25809219,Fax: 86-755-83256658
No comments:
Post a Comment