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Hong Kong offshore

In recent years, Hong Kong has become a financial capital of the Asia-Pacific region. Actionable legislation and effective banking system introduced in this area provide significant benefits for companies seeking to improve the efficiency of their tax planning and asset management.

 

Today, Hong Kong is rightfully holding the title of one of the most prestigious jurisdictions and is one of the world’s largest financial centers. Convenient geographical location makes offshore companies in Hong Kong one of the most efficient tools for doing business in the Asia-Pacific. 

 

Contrary to the companies registered in the classic offshore jurisdictions, a Hong Kong offshore company can seamlessly run its business activities with the rest of the world and enjoy tax and operational benefits as well as a high reputation.

hong kong

A Hong Kong company:

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The basic requirements towards Hong Kong company formation are as follows:
  • at least one shareholder and at least one director (both of them can be either a company or a person of any nationality). At the same time, the director is not required to be a Hong Kong resident
  • providing copies of internal or foreign passports as well as the addresses of the shareholders and directors
  • in case of ordering the nominal service, providing copies of the owner’s internal or foreign passports
  • a mandatory acquisition of one share bearing a value of HK$1 as a partial payment for the authorized capital
  • a registered Hong Kong address
  • a company secretary – either a Hong Kong resident or a business entity registered on the territory of Hong Kong administrative district
  • a unique name of the company in English or Chinese. It’s possible to use mixed version in both languages
Any company registered in Hong Kong is required to submit its financial reporting once a year. Once the company is registered, it can open an offshore account in Hong Kong’s banks.
Companies in Hong Kong have vast opportunities to optimize their business operations thanks to a number of benefits:
  • a zero income tax for revenues generated outside the territory of Hong Kong 
  • prestigious business reputation
  • simple and quick company setup
At the same time, an offshore company in Hong Kong has additional obligations like holding mandatory board meetings, submitting financial reporting to the fiscal authorities and indicating the authorized capital.