- Ultra-fast company transfer
- All clear - fixed cost - no surprises
- Easy - just pick the company and tell us when you coming
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- Unlimited bank accounts - no caps/no limits
- Foreign bank accounts
Until 1997, Hong Kong was a British colony, and in 1998 it became a Special Administrative Region of People’s Republic of China, that was granted broad autonomy on all issues except for foreign policy and armed forces.
Hong Kong has 1104 km2 and is situated in Southeastern Asia, in the central part of the southern coast of China by South China Sea. Thanks to great geographical location, the area is Asia’s main transport node, both in terms of sea and air routes.
Throughout the second half of the twentieth century, the area belonged to the top fastest-growing global economies. Hong Kong is an international financial centre, where the biggest international companies and banks have their seats, and its securities market is one of the biggest in the world. A solid and transparent legal system, low tax rates both for legal and physical persons, high business culture and prevalent high-level education of staff as well as excellent technological and telecommunications infrastructure create great conditions for doing business.
Hong Kong is a sort of a bridge between Europe and China and other Asia countries. Due to Closer Economic Partnership Agreement with China, the area has easier access to the Chinese market plus the invaluable experience in doing business with that country.
According to the Wall Street Journal and the Heritage Foundation, Hong Kong is a country marked by the highest level of economic freedom in the world.
The official language is Chinese (Cantonese) and English, the knowledge of which is commonplace, and all company documents are both in Chinese and English.
The official currency is Hong Kong dollar (HKD).
Hong Kong’s commercial law is based on United Kingdom Company Ordinance of 1932, as amended.
The most popular form of doing business in Hong Kong is company limited by shares. To set up a company in Hong Kong you need only one shareholder and one director. They do not have to be residents. It should be stressed here that information on directors and shareholders is public, so those of you who value anonymity should consider using nominee services that our company may provide. There is no obligation to publish information on who the beneficiary owner is, so this solution guarantees a high level of confidentiality. The shareholder and the director may be a physical as well as a legal person.
There is an obligation to appoint a company secretary, who has to be a Hong Kong resident and a have a Hong Kong residential address. The secretary may be a physical or a legal person. We encourage you to use our services in this regard.
Internal company affairs are regulated by Articles of Association that have to include: company name, address, names and addresses of subscribers, the scope of members’ liability, information on the classes of the shares, share capital amount and information on the currency it will be paid in. Articles of Association have to have at least one subscriber.
Every company has to have a name that is different from the names of the already existing companies and have to include the word ‘limited’.
There is no minimum share capital amount and it may be paid in any currency.
Every company has to have an address in the territory of Hong Kong.
Companies registered in Hong Kong are obliged to prepare and submit the following documents: Annual Return, Shareholder Annual General Meeting, Business Registration Certificate, Employer Tax Return and Profit Tax Return with Audited Accounts. Shelfcompanies24 will help you prepare all the required documents.
Companies also have to keep the following books: register of directors and secretaries, register of members, and register of fees. The books have to be kept in company’s registered office. It is also obligatory to appoint a chartered auditor who is a member of Hong Kong Society of Accountants.
Hong Kong has the opinion of a jurisdiction with low taxes, and not a typical tax haven, thanks to which, when investing in the country, you will not be regarded as persons intending to evade taxation. The fiscal system is territorial, which, in short, means that only the income coming from sources located in the territory of Hong Kong is taxed. The system is very transparent and simple. The income tax is 16.5% and is one of the lowest in Asia. Income from activity outside of Hong Kong is completely exempt from tax. There is no accumulated tax, dividend tax, capital gains tax or interest tax. There is no goods and services tax either. From 2005, inheritance tax has been also completely disposed of.
Also, Hong Kong does not put restrictions on currency exchange what allows free receipt and transfer of capital.
In Hong Kong, there is obligation to keep accounting books and prepare annual financial reports that are subject to audit. Although this generates some costs and additional obligations that may be avoided in many jurisdictions, thanks to that companies are seen by counterparties as clear and transparent. Our company will assist you in preparing all documents.
Hong Kong is one of the biggest economic powers in Asia, which is of great importance to the global economy. This is mostly due to goods exchange between the CPR and the rest of the world that developed through years.
Supervision over the development of international economic relations is in the hands of Hong Kong Trade Development Council.
This small administrative region for years has been performing the role of global trade and financial centre with seats of global corporations and banks. It is here that numerous companies have their headquarters, which allows to greatly reduce taxation. For sure, the fact that local and foreign companies are treated on similar terms have something to do with it.
Fast economic development of Hong Kong also translates into high standard of living and excellent level of education.
There is no place in the world where imports and exports per capita (7 million inhabitants) would be higher than in Hong Kong.
The main sectors of the economy are services, tourism, real estate, manufacturing, construction, transport and warehousing.
Hong Kong is a Special Administrative Region of People’s Republic of China. The legal basis for the functioning of the region in the current form is the “one country, two systems” principle, formulated by Deng Xiaoping in 1984 during the negotiations on Hong Kong’s return to China. Hong Kong enjoys a high degree of autonomy both on economic policy issues and social policy issues, and the central authorities in Beijing decide merely on foreign policy and regional defence. Hong Kong maintains a separate currency, the Hong Kong dollar, and remains a separate customs, passport and visa area.
Hong Kong’s political system got regulated in the Basic Law, introduced by the parliament of People’s Republic of China in 1990 and also in Sino-British Joint Declaration of 1984. What was guaranteed then was stability of the political system, economic system and lifestyle for 50 years, i.e. until 2047.
The highest power in Hong Kong is exercised by the Chief Executive who is selected by Election Committee for a 5-year term. The legislative power is exercised by the Parliament consisting of 60 people, elected for a 4-year term. Half of the parliamentarians are elected by functional constituencies consisting of professional groups, 24 parliamentarians are directly elected in geographical constituencies, and 6 is elected by Election Committee appointed by the central government of People’s Republic of China. The executive power is in the hands of the government consisting of bureaux (headed by secretaries – equivalent of ministers) and departments. Bureaux have executive initiative as well. The judiciary power is exercised by independent courts.
Banking activity in Hong Kong was regulated in Banking Ordinance and Securities and Futures Ordinance. The banking sector is immensely important to the economy of Hong Kong, and banking law does not only regulate the banking sector alone, but also provides legislative framework, the example of which are the two aforementioned legal acts. In short, banking in the small region is maintained at the highest global level and is well perceived abroad.
In Hong Kong, you will find both local bank and branches of the biggest international banks from every continent. According to the data from January 2015, there are 203 licence banking institutions with the total number of 1372 branches functioning there. The dominating bank here is HSBC, with offices around the world.
All companies are equal before the law.
A good formation agent is what makes a difference.
ShelfCompanies24.com is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.
What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.
Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.
Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.
Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.
We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.
For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.
Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.
Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.
The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.
Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.
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Adrianna has completed a master degree in law at European School of Law and Administration. At ShelfCompanies24.com Arianna is responsible of customer service, logistics as well as relationships with the banks.