Company Set Up Procedures in Hong Kong

Hong Kong is popular for investments and offshore company incorporation, having achieved first place in the "Index of Economic Freedom" fifteen years in a row (until 2009). The index takes into account factors such as business freedom, investment freedom, property rights and freedom from corruption. With one of the lowest corporate tax rates in the world (16.5%) and zero tax on foreign sourced income, Hong Kong is also an ideal jurisdiction for tax-efficient business, without being perceived as an international tax haven. Setting up a company in Hong Kong can take as little as 4 working days and with the aid of a professional services firm is relatively simple. The procedure is as follows:

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After forming a company in Hong Kong, new entities often face other important requirements in new business set up. These can include opening a corporate bank account, obtaining corporate and trade finance as well as merchant accounts, and identifying a local office space or virtual office.

Marketing components such as the company website, search engine advertising and the company logo are other factors that play a major role in the success of a newly set up company.

Setting up a company in Hong Kong can ultimately be seen as a profitable, long-term investment for any business given the noted tax benefits, ease of incorporation and Hong Kong's position as a reputable, secure and effective jurisdiction. Furthermore, Hong Kong provides a gateway to China, the 3rd largest economy in the world.

Minimum requirements to set up business in Hong Kong:

- One shareholder

- One director, any nationality/residence

- Company secretary, either Hong Kong resident or Hong Kong company

- A registered Hong Kong office address

- Auditors, from firm of Hong Kong accountants

- Business Registration Certificate

- One person can act as director, shareholder and secretary, except if sole director, he/she cannot act as secretary

- No minimum share capital requirements

For further information refer to the Hong Kong Companies Registry.

For more information on our Hong Kong Trading Services, email email@healyconsultants.com or call us in Hong Kong at +(852) 8331 1911.

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