There are usually two possibilities just in case you have to commence Hong Kong company formation. The initial approach involves establishing a brand new company from scratch. Another approach simply involves purchasing an organization that had been created.
When establishing a brand new company from scratch, you first need to run a look for your company's name. It will usually take you a lengthier time to register a brand new company. A company registration license one of the licenses required. The license is usually inclusive of government fees that may add up to HK $ 250.
If you want to acquire a currently created company, you need to pick your company name from confirmed list company incorporation in Hong Kong. The list usually consists of shelf company names which have never been used. The processing time for this method is much shorter than registering a brand new company.
Why Hong Kong?
This international city supplies a very competitive economic environment. It's an open and market oriented system that is devoid of much government interventions. Investors have much freedom in choosing which business operations to undertake. This city tops the planet economic environments with regards to freedom of operations.
Another reason that endears this Asian City to investors as an offshore company location is its simple capital flow. The easy flow of capital from the town abroad increases your company's economic freedom. The possible lack of restrictions and controls ensures that major world currencies such as the US$, GB Pound, Japanese Yen etc. are remitted easily to and from the city.
There's no requirement for almost any capital investment. As a shareholder you're only necessary to append your signature to the M & A declaring that you will contribute the company's capital. You don't need to pay for up hardly any money to the company.
Opening an offshore banking account is simple through your Hong Kong company formation. All that is required of you as an investor is that you provide evidence of your address. You will need to supply a copy of one's passport, your company documents and a broad description of one's business. These documents are widely accepted by many international bankers.
In this Asian City, trust laws are applicable. If as an investor, for almost any personal reasons you require your status hidden, you can certainly do this through a trust arrangement. In this scenario, the trustee holds shares for you as the beneficiary. He also holds the trust deed which acts as prove that he is the true owner of the shares. The trust laws are applicable in Hong Kong and not everywhere else. In countries like China where such documents are invalid, these laws are unenforceable and therefore ineffective.
You will need to help keep the company's accounting records and annual statutory audits. These have to be filed to the City's tax departments annually. For several business transactions, the city's Inland Revenue Department requires companies to help keep proper records and accounts. These are used to ascertain precise figures of one's incomes, expenses and losses.