General information

Company structure

• ▪ Only one shareholder (can also be a legal person, no nationality restriction)
• ▪ Only one director (only natural person, no nationality or residency restrictions)

Confidentiality

• ▪ Beneficial owners’ details – Not part of public record
• ▪ Shareholders’ details – are part of the public record, if you wish to avoid it then please request a nominee service
• ▪ Directors’ details – are part of the public record, if you wish to avoid it then please request a nominee service

Taxation

• ▪ Hong Kong is one of the few countries in the world that tax on a territorial basis. Many countries levy tax on a different basis and they tax the worldwide profits of a business, including profits derived from an offshore source. Hong Kong profits tax is only charged on profits derived from a trade, profession or business carried on in Hong Kong. Consequently, this means that a company, which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kong on those profits. Hong Kong sourced income is currently subject to a rate of taxation of 16,5 percent.
• ▪ Double Taxation Agreements: Hong Kong has comprehensive double tax agreements with Austria, Belgium, Brunei, Canada, Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Jersey, Kuwait, Liechtenstein, Luxembourg, Malaysia, Malta, Mexico, Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, United Kingdom, Vietnam, Qatar and the Mainland China respectively to relieve taxation on income, for instance, dividends, interest income and royalties. The Hong Kong Inland Revenue Department allows a deduction for foreign tax paid on a turnover basis in respect of income which is also subject to tax in Hong Kong. Therefore, businesses operating in Hong Kong do not generally have problems with double taxation of income.

Other benefits

• ▪ Company meetings need not be held in Hong Kong. A general meeting can be held at more than one location by using any technology.
• ▪ An annual general meeting (AGM) must be held once in every calendar year and not more than 15 months after the last preceding AGM. However, a company need not hold its first AGM until 18 months of its incorporation. A company can dispense with the holding of AGM if everything that is required or intended to be done at the meeting is done by resolutions.
• ▪ Companies may dispense with the holding of AGMs by unanimous shareholder’s consent.

Accounting requirements

A Hong Kong company must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the directors. Every company must appoint an auditor who must be a member of the Hong Kong Society of Accountants and hold a practicing certificate. Although there is no requirement to file accounts with the Registrar, there is a requirement to file accounts with the tax authorities. Annual return is required to be filed to the Companies Registry within 42 days after the date of anniversary of incorporation, and then each year thereafter. Government filing fee is HK$105. Professional fees will vary depending on service providers.

Secretary

Required, (can also be a legal person, resident in Hong Kong)

Registered Agent

Required

Registered office

Required

Company name

• ▪ Language: Any
• ▪ Letters: From Roman alphabet or in Chinese
• ▪ Company name must end with such suffix or it’s abbreviation: Limited
• ▪ Restricted Names: Any name would constitute a criminal offence or is offensive or otherwise contrary to the public interest. Any name would be likely to give the impression that the company is connected in any way with the Central People’s Government or the Government of the HKSAR or any department of either government such as Department, Government, Commission, Bureau, Federation, Council, Authority
• ▪ Names Requiring Consent or a Licence: Asset management, Assurance, Authority, Bank, Building Society, Bureau Federation, Chamber of Commerce, Chartered, Commission, Co-operative, Council, Department, Fund Management, Government, Insurance, Investment Fund, Kaifong, Mass Transit, Municipal, Re-Insurance, Royal, Savings, Tourist Association, Trust, Trustee, Underground Railway

N.B.

• ▪ Restricted connections for company name: name of state, national or local government.
• ▪ Any name that implies illegal activity or implies royal or government patronage is restricted.
• ▪ Registrar may reject any name which it considers undesirable or contrary to the public interest.
  
• ▪ Company name is restricted to be identical or similar that of an existing company.
  
• ▪ In case when foreign language is used for company name the translation may be asked by Registrar to ensure conformity to above listed restrictions.

Incorporation

• ▪ Name check and approval
• ▪ Filling incorporation documents with the Registrar of Companies
• ▪ Registration Forms
• ▪ A standard set of original corporate documents
• ▪ Payment of the Government fees
• ▪ Provision of registered office and registered address for one year
• ▪ Provision of company secretary for one year

Please provide us with the following documents and data: 

Incorporation

• ▪ A notarized copy of valid passport (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
• ▪ A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English
• ▪ Optional: A notarized copy of Bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
• ▪ Optional: CV (of each Director and Shareholder)

N.B.

• ▪ If Shareholders and/or directors are legal persons, then it is required to submit full set of apostilled company documents and if company is operating more than 1 year it is required to submit certificate of Good Standing.
• ▪ If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.

 Capital

• ▪ Amount of paid up capital

 Company name

• ▪ Three company names in order of preference