There are usually two possibilities just in case you have to commence Hong Kong company formation. The very first approach involves creating a brand new company from scratch. The other approach simply involves purchasing a business that had been created.
When creating a brand new company from scratch, you first need to run a search for your company's name establish company in Hong Kong. It will most likely take you an extended time and energy to register a brand new company. A small business registration license one of the licenses required. The license is normally inclusive of government fees that may total HK $ 250.
If you would like to acquire an already created company, you'll need to choose your company name from confirmed list. The list usually contains shelf company names which have never been used. The processing time for this program is much shorter than registering a brand new company.
Why Hong Kong?
This international city supplies a very competitive economic environment. It's an open and market oriented system that's without much government interventions. Investors have much freedom in choosing which business operations to undertake. This city tops the planet economic environments in terms of freedom of operations.
Another reason that endears this Asian City to investors being an offshore company location is its simple capital flow. The easy flow of capital from the city to other countries increases your company's economic freedom. Having less restrictions and controls ensures that major world currencies including the US$, GB Pound, Japanese Yen etc. are remitted easily to and from the city.
There's no requirement for any capital investment. As a shareholder you're only needed to append your signature to the M & A declaring that you will contribute the company's capital. You don't need to cover up any money to the company.
Opening an offshore bank account is simple during your Hong Kong company formation. All that's required of you being an investor is that you provide proof your address. You need to supply a copy of one's passport, your company documents and a broad description of one's business. These documents are widely accepted by many international bankers.
In this Asian City, trust laws are applicable. If being an investor, for any personal reasons you require your status hidden, you can certainly do this via a trust arrangement. In this scenario, the trustee holds shares for you personally as the beneficiary. He also holds the trust deed which acts as prove that he is the actual owner of the shares. The trust laws are applicable in Hong Kong and not everywhere else. In countries like China where such documents are invalid, these laws are unenforceable and therefore ineffective.
You need to keep the company's accounting records and annual statutory audits. These must be filed to the City's tax departments annually. For many business transactions, the city's Inland Revenue Department requires companies to keep proper records and accounts. These are used to ascertain precise figures of one's incomes, expenses and losses.
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