Hong Kong Corporation

About Hong Kong

Located on the South Eastern tip of mainland China, Hong Kong is a Special Administrative Region of the People’s Republic of China (Hong Kong SAR), however, they still maintain an independent economic, administrative and judicial system. As one of the world´s major financial centers and freest economies in the world, Hong Kong offers a pristine international reputation along with business-friendly policies and corporate tax advantages.

Through the development of the CEPA agreement, Hong Kong has become a gateway into China, with preferential access to one of the largest and fastest-growing markets. Along with these advantages and a politically stable environment, Hong Kong has become the preferred offshore jurisdiction, incorporating more companies than in any other jurisdiction per year.

Prime Minister:
Carrie Lam Cheng Yuet-Ngor

Government:
Special Administrative Region of the People’s Republic of China (HKSAR)

Economy:
Financial services, tourism, international trade

Currency:
Hong Kong Dollar

Capital City:
Hong Kong

Population:
Over 7.6 million

Language:
English, Bajan

Members of:
Chinese and English


Benefits

Setting up an offshore corporation is simply setting up a corporation in a different jurisdiction other than the home country or the country of the company’s main operations. Offshore jurisdictions typically offer better corporate and financial laws as opposed to onshore jurisdictions. The offshore industry is addressing and offering viable solutions to address the ever-changing needs of global business and banking, creating offshore entities with an array of benefits.


Characteristics


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Process

1.While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

2. Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

3. Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

4. Each jurisdiction will have its own setup process and set of due diligence processes. Hong Kong requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

5. Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the registry.

6. After the corporation is set up, clients can request any additional services such as business licenses, permits, banking, etc.

7. Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in Hong Kong. Companies set up in Hong Kong are required to prepare and maintain the financial accounts by a certified accountant and submit them annually to the Inland Revenue Department.

While many offshore jurisdictions offer similar advantages and benefits, there are no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for you.

Defining the objectives of the corporation will help establish which legal structure is right for you. Our advisors will assist in setting up the corporation along with any related services.

Choosing a local resident agent is key in establishing a well-defined foundation that adheres to local laws and offers the corporation the most protection and privacy. As this is an ongoing relationship, it is advisable to set up an offshore foundation with a reputable and trusted firm.

Each jurisdiction will have its own setup process and set of due diligence processes. Hong Kong requires clients to fulfill KYC (Know Your Client) by proving their identity with proof of address, as well as completing a simple form to provide the necessary information to set the corporation up.

Once the required documentation is received, the provider can then file the corporation deed, creating a legal entity in the registry.

After the corporation is set up, clients can request any additional services such as business licenses, permits, banking, etc.

Annual fees including resident agent and tax/maintenance fee must be paid in order to keep the corporation in good standing with the tax offices in Hong Kong. Companies set up in Hong Kong are required to prepare and maintain the financial accounts by a certified accountant and submit them annually to the Inland Revenue Department.


Our Services

Corporation
Formation

We assist with advising possible jurisdictions to suit your business needs and goals along with the incorporation process.

Continued
Support

We assist with corporation maintenance as well as providing on-going support.

Related
Services

We assist with related services such as offshore trust, foundations, and offshore banking.


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