Hong Kong - Asia's Best Offshore 2021

Opening a company in offshore Hong Kong is relevant for the promotion and protection of business. Offshore is a territory that provides the opportunity to register a company and conduct business under relaxed conditions of taxation, accounting, etc.

Offshore in Hong Kong at the same time is not traditional. It is not required to pay income tax on the territory of the company if the activities are carried out solely outside the jurisdiction. There are also not many fees, which are mandatory in other countries - capital gains taxes and VAT, dividends, etc. It can be said that Hong Kong belongs to midshore organizations that combine several elements of offshore zones.

Peculiarities of company registration

Several advantages of registering a company offshore in Hong Kong in 2021 can be highlighted. Such organizations are ideal for export-import operations. There are developed infrastructure, large ports and airfields.

Offshore territory can be used as an investment company. A legal entity registered in this territory can operate in a variety of areas. Limited liability companies are most often registered. The offshore registration procedure is quite simple and affordable for owners of both small and large businesses.

The main stages of opening a company

An important step in opening a company is to create a name. It should be a unique one in English or Chinese. To make sure the name is unique please contact our specialists at IT-OFFSHORE. We will help you collect required documents and open a firm with a bank account.

It does not require a large number documents to register a business. Each director and shareholder needs to submit the following:

• Certified copies of proof of identity;
• Documents with proof of address of residence;
• Information from the bank on the status of the account.

In addition it is required to provide contact information for feedback and describe company's sphere of activity in detail. If the directors or shareholders are legal entities, corporate documentation is required.

Each firm must have a physical office in the territory. However, if there are no plans to operate directly in the area, a serviced office and a local phone number are not necessary, a legal address agreement is sufficient.

Depending on the type of business, a special license to operate may be required. This document is required for financial consulting firms, travel agencies, and real estate enterprises.

Registering a bank account

It is important to choose a bank even before opening a company. Nowadays, each financial institution carries out a thorough check of the documents and data provided to clients, including the origin of funds.

Most financial institutions, including those in Hong Kong, open accounts only after meeting with the client. The banking system is quite strong and stable, and many businesspeople plan to open an account in Hong Kong.

Popular banks:

• Bank of China (Hong Kong), ltd;
• Bank of Communications (Hong Kong), ltd;
• The Bank of East Asia, ltd;
• China CITIC Bank International, ltd.

Opening a business in Hong Kong has many advantages - the area is attractive to investors and is considered the center of advanced technology in Asia. It is relevant to open a company in Hong Kong if the business is related to China.