|
| |||||||
| Establishing a Company in Hong Kong | |||||||
Hong Kong is one of the world's most appealing jurisdictions for global entrepreneurs, and establishing a company in Hong Kong has long been a popular choice for business people looking to do business in Asia. Several important points to consider when establishing a company in Hong Kong include: | |||||||
1.
| Hong Kong's economy is sophisticated and dynamic, based largely on services. Hong Kong is one of the world's top four financial centres, and is also one of the world's wealthiest country in terms of gross domestic product (GDP) per capita. This economic base provides a strong domestic consumer market, which encourages entrepreneurs to establish a company in Hong Kong to tap potentially rewarding local markets. | ||||||
2.
| The process for establishing a company in Hong Kong is simple, as outlined by the World Bank's ranking of Hong Kong as the world's 3rd easiest place in which to do business in Doing Business 2010 Survey.
Hong Kong remains a popular location for regional or even global
headquarters for large organisations. For example, more than
4,000 companies have Hong Kong as their global headquarters.
| ||||||
3.
| The regulations for establishing a company in Hong Kong are laid out in the Hong Kong Companies Ordinance of 1997. When establishing a company in Hong Kong, only one director and shareholder is required. There is no requirement for either to reside in Hong Kong, making this entity desirable to global entrepreneurs. Furthermore, shareholders can be either individual persons or companies. The minimum authorised share capital for a Hong Kong company is a minimal HK$1. | ||||||
4.
| Since Hong Kong imposes neither goods and sales tax (GST) it is not necessary for the company to register for GST. | ||||||
5.
| After establishing a company in Hong Kong, annual financial statements and an annual corporate tax return are submitted to Inland Revenue Department (IRD) by 31 March each year. | ||||||
6.
| Unfortunately, Hong Kong has a very limited network of comprehensive double tax treaties signed only with China, Thailand, Vietnam, Belgium and Luxembourg. As a result, this makes a Singapore company a more attractive corporate structure for some entrepreneurs. | ||||||
| Contact us | |||||||
For further information on establishing a company in Hong Kong, email email@healyconsultants.com or call us in Hong Kong at (+852) 8331 1911.
| |||||||
|
Back to Hong Kong Company Formation page | |||||||
|
© 2006-2010 Asia Business Setup Pte Ltd
|
ASIA BUSINESS SET UP |
Related webpages