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Seek information about Hong Kong company?

#2
Here we go:


Principal Corporate Legislation


Companies Ordinance (Cap 32).


Type of Law


Common.


Language of Legislation and Corporate Documents


Chinese an English.


Type of Company for International Trade, Investment & Tax Planning


Private Limited Company.


Share Capital


Standard authorised share capital is HKD1,000. Minimum paid up share capital is HKD1.


Classes of Share Available


Ordinary shares, preference shares, redeemable shares and shares with or without voting rights.


Bearer Shares


Not permitted.


Restrictions on Trading


Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.


Registered Office Required


Yes, must be maintained in Hong Kong.


Directors


The minimum number of directors is one. Director can be of any nationality and need not be resident in Hong Kong. Corporate directors are permitted.


Shareholders


The minimum number of shareholders is one.


Publicly Accessible Records


Yes.


Nominee Shareholders and Nominee Directors


Allowed.


Location of Meetings of Directors and Shareholders


Anywhere.


Disclosure of Beneficial Ownership to Authorities


No.


Personal Presence Required


No.


Taxation


Hong Kong profits tax is ONLY charged on profits earned from a trade, profession or business carried on in Hong Kong. Thus this means that a company which carries on business in Hong Kong, but earns profits from another place, is not required to pay tax in Hong Kong on those profits. Profit earned inside Hong Kong is currently subject to a rate of taxation of 16.5%. There is no tax in Hong Kong on capital gains, dividends and interest earned.


Double Taxation Treaty Access


Yes.


Requirements to File Accounts


Yes.


Requirement to File Annual Return


None.


Audit Requirements


None.


Currency


Hong Kong dollar (HKD).


Exchange Control


None.


Language of Name


English.


Required Words


Words such as "Assurance", "Bank", "Building Society", "Royal", "Trust Company", "Trustee Company" etc. will require justification.


Name of a Company


The word "Limited" must be part of the name of every company.


Time to Incorporate


Two weeks


For bank account opening you will want to travel to Hong Kong and open an account for the company with one of the major banks there.
 
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#8
moneymaker said:
It may be worth to look into a Hong Kong company formation for my 3 layer offshore company setup so I know where to get it.
@hugger, do you by chance know if we have to travel to Hong Kong for the setup? or can it be done remote?
Click to expand...
The companies can be set up without you having to travel to Hong Kong.


To open the bank accounts you need to visit the banks in person UNLESS you want to use nominee directors to operate your bank accounts.
 
#9
hugger said:
To open the bank accounts you need to visit the banks in person UNLESS you want to use nominee directors to operate your bank accounts.
Click to expand...
Hugger: That's wrong.


Now you can open bank account in Hong Kong through a Skype Conversation with the Bank. You will have to fax your passport, then to show again your passport on the webcam, etc ... It's pretty easy and simple.
 
#15
Hugevaluable said:
Affirmative :) - But it will only work for the Bank Account for a Hong Kong registred company.
No personal bank account.
Click to expand...
How did you know this? Did they tell you this over the phone or in an email? Or can you provide a link to their Terms an Conditions outlining this process?


I have a couple of companies in Hong Kong and have always had to turn up in person when opening the company bank accounts.
 
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#16
hugger said:
How did you know this? Did they tell you this over the phone or in an email? Or can you provide a link to their Terms an Conditions outlining this process?
I have a couple of companies in Hong Kong and have always had to turn up in person when opening the company bank accounts.
Click to expand...
I know this because i first made my research :) and then spoke with some of my friends who already used it.


HSBC is not promoting so much that services on their websites, but you can find it on the most reliable sources for a bank: Commercial Tarrifs


Launch that research in Google: "An easy guide to commercial tariffs - HSBC HK" and download the first result PDF.


In "General Services - All Accounts" section, you will find: "Opening a company account in Hong Kong via video conference"


For the terms and conditions, i suggest you to contact them.
 
#17
neal said:
So HSBC bank can with a simple Skype conversation open a real bank account in Hong Kong. That's great news I will try that procedure and report back.
Click to expand...
Did you had any luck? Would really appreciate to know the outcome, like many here will :) ?
 
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