Hong Kong Offsore Company @ Asia Business Set Up


Hong Kong Offshore Company
A Hong Kong offshore company is becoming an increasingly popular option amongst international entrepreneurs in order to conduct tax efficient global trade. This option has many advantages, including excellent access to China, one of the world's most rapidly expanding economies. Other facets of a Hong Kong offshore company include:
1.	Multinational companies choose a Hong Kong offshore company because of the city's image as an international financial centre with a robust, viable trading economy. This is in stark contrast to other 'offshore' jurisdictions such as the British Virgin Islands (BVI) and the Bahamas. Furthermore, Hong Kong is positively ranked as the world's freest economy in the Heritage Organisation's 2008 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets.
2.	In addition, the World Bank ranks Hong Kong as the 4th easiest place to do business. The bank takes into account factors such as the number of procedures required to form a Hong Kong offshore company, the time taken, the cost and minimum capital required. That said, entrepreneurs should budget for incorporation to take up to two weeks to complete.
3.	An offshore company is an excellent corporate vehicle through which to house global corporate profits, legally minimising international taxation. For example, profits sourced outside Hong Kong are legitimately tax-exempt. For further information see the Hong Kong Inland Revenue Department website.
4.	Because Hong Kong's financial institutions refuse to exchange customer information with member states of the Organisation for Economic Cooperation and Development (OECD), Hong Kong is a secure long-term jurisdiction for international entrepreneurs.
5.	A Hong Kong offshore company is normally incorporated by foreign investors as a limited liability company (LLC). Other corporate entities available in Hong Kong include the Hong Kong Branch Company, the limited liability partnership, sole partnership and representative office. To highlight the popularity of the LLC, government statistics confirmed in 2007 that there were 55% more corporate regional headquarters in the city than in 1997.
6.	in order to support this venture, most entrepreneurs open a corporate bank account with a leading international retail bank (for example, HSBC, Standard Chartered and Citibank). Because 69 of the world's top 100 banks have operations in Hong Kong, investors choose from a wide array of professional banking services. For more information, see the Hong Kong offshore banking page.
7.	When opening a corporate bank account in Hong Kong, banks require due diligence including:
	i) a detailed business plan outlining the company's products and services, a market analysis and information about the bank signatories
	ii) examples of contracts and invoices in the name of the company; and
	iii) recent proof of address of the bank signatories (in English).
Contact Us
For more information on Hong Kong business formation, email email@healyconsultants.com or call us in Hong Kong at (+852) 8331 1911.
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