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HONG KONG, Asia's World City!
The preparation for setting up a Hong Kong company is not a complicated work, as the local government imposes few requirements on Company formation.
The most common type of business entity registered in Hong Kong is a private limited liability company. Limited liability companies have a separate legal personality, limited liability for its owners, strong public perception and an enduring structure; raising capital and transfer of ownership is easier when compared to other business structures such as sole proprietorship and partnership. Foreign business professionals often refer to this type of entity as an offshore company in Hong Kong.
Considerations for Foreigners
Foreigners who wish to register an offshore limited liability company in Hong Kong, must take into consideration the following points:
●Foreigners are free to be the sole directors and shareholders of a Hong Kong company. There are no local resident requirements.
●Although there is no requirement to be physically present at the time of company registration, physical presence may be required for the purpose of opening a bank account, depending on the bank chosen.
●Foreigners who do not plan to relocate to Hong Kong are free to operate their Hong Kong offshore company from overseas.
Documents Required for Company Registration
To setup a Hong Kong limited liability company, normally the following documents will be required:
●Company name (end with "Limited")
●Particulars of shareholders, directors and company secretary
●Share capital registered on incorporation(usually HKD 10000)
●Number of shares taken up by subscribers
●Copy of passport or ID card for shareholders and directors
Hong Kong Company Incorporation Packages
Lemon Accountancy offers competitively priced “all inclusive” company incorporation package to help you quickly start your business without any surprises or hidden costs.
PACKAGE INCLUDES | DETAILS |
Name search to check the availability of your company name. | √ |
Preparation of the company incorporation documents for your signature. | √ |
The Hong Kong Government company incorporation fee and the first year’s business registration fee. | √ |
Company kit including 10 copies of our standard Articles of Association, share certificates, minute book, register of shareholders and directors, company seal and company stamp. | √ |
Complimentary help with opening your bank account including guidance on the choice of bank and advice on the account opening requirements. | √ |
Provision of one set of CPA certified true copies of the company incorporation documents required for opening a bank account in Hong Kong. | √ |
Complimentary provision of a Company Secretary for one year including filing of “Form NAR1 – Annual Return” (it is a legal requirement for Hong Kong companies to appoint a Hong Kong resident Company Secretary to maintain the statutory records). | √ |
Preparation of the Significant Controllers Register and provision of a designated representative to liaise with the Hong Kong authorities for one year. | √ |
Complimentary provision of a Hong Kong Registered Office address for one year for receipt of mail from the Hong Kong Government such as government notices and tax returns. | √ |
Use of our office address for receipt of your business mail for one year (mail can be collected at any time during office hours or will be forwarded to you monthly by air mail if you live overseas). | √ |
OUR FEE | USD 499 |
How Long Does It Take To Incorporate A Company?
Your company will be incorporated within 5 working days from submission of your signed documents to the Companies Registry.
We will prepare the incorporation documents upon receipt of your payment and email to you for your signature…. you will need to sign the incorporation documents as the founder shareholder and courier your original signed documents to ourselves for submission to the Companies Registry. Alternatively you can sign the incorporation documents at our office if you are in Hong Kong.
Taxation of HK Company
Under the two-tiered profits tax rates regime, Corporate proifts tax rate for the first $2 million of assessable profits is 8.25%. Assessable profits above $2 million is subject to tax rate of 16.5%.
●Hong Kong taxation system is on territorial basis.
●Only profits generated from Hong Kong are subjected to Hong Kong’s income tax.
●No capital gains tax, no dividend withholding tax, and no GST/VAT.
●Annual audit of accounts by HK Certified Public Accountants is a mandatory requirement. Private Limited Company must file its audited accounts and income tax return annually with IRD, Inland Revenue Department.
●All company must file annual returns with CR, Companies Registry and pay the annual business registration fee (BR Fee).
●The HK Business Registration Certificate must be renewed annually or once every three years, a month before expiry.
Please refer to HK Audit & Tax Filing for more details.
Bank Accounts Opening
Lemon Accountancy has more than 10 years experience assisting clients to open bank accounts in Hong Kong and will be pleased to provide guidance on the choice of bank for your new Hong Kong company helping you to select a bank that is best aligned with your intended business activities. We can also advise you on the account opening requirements.
For details, please refer to:
●Bank of China(Hong Kong) Accounts.
●Bank of East Asia (Hong Kong) Accounts.