How to open an offshore company in Hong Kong quickly
It is profitable to open an offshore company in Hong Kong, especially if you are going to work in the Asian market. The jurisdiction is known for its high business reputation, political stability, absence of currency control. The company does not pay tax on profits made outside of Hong Kong.
Features of the Hong Kong offshore
Company name must be unique and approved by the Registrar of Companies in Hong Kong even before the official registration. There must be at least one director in the organization, the role of which can be performed by both individuals and legal entities. Nationality does not matter. If there is no possibility of residence in Hong Kong, nominee directors are allowed.
The company must have at least one shareholder, but not more than fifty people. The sole director can also be a shareholder. 100% foreign participation is possible. If real people do not want to shine, nominee shareholders are allowed.
Hong Kong firm must hire a local secretary. This role can not be performed by the director / shareholder, it is necessary to look for a physical employee. Professional qualifications are not required.
A physical office in Hong Kong is mandatory. It should be a full-fledged office, not a PO Box.
The estimated registered capital of a Hong Kong company is HK 10,000. No capital investment is required, except for a government stamp duty of 1/1000. For example, for HK$1 million, additional administrative fee of HK$1 thousand must be paid.
How to register: a guide
Opening a company in Hong Kong consists of the following steps:
(1) Approval of the name, for which you have to apply to the Registrar of Companies.
(2) Submission of incorporation documents to the Registrar of Companies:
- application form;
- copy of a passport;
- proof of residence abroad;
- recommendation letter from the bank for foreign directors or shareholders;
- copy of the registration documents of the parent company, if a branch is opened.
The application is processed no longer than 2 weeks. If there are no problems with the documents, the regulator registers the company.
What to do after registration
Within 2 weeks after the registration of the company, it is necessary to submit the following documents to the Registrar of Companies:
- a notification of the appointment of a secretary, directors;
- the consent of an employee to act as a director;
- information on the incorporation of the office, etc.
Then it is necessary to open a corporate bank account in Hong Kong or mainland China. In the first case, good reviews are:
- Standard Chartered Bank;
- Bank of East Asia;
- Hang Seng Bank;
- Bank of China.
Offshore Hong Kong must be registered with the Department of Internal Revenue within one month of registration, and take a certificate of this. Subsequently, you will need to file tax returns here.
If your work requires a license, it must be obtained before starting commercial activities.
Basic requirements for the operation of the company
A company must promptly inform the Register of Companies of any changes in its operations or in the persons involved. It is also required to submit annual reports. It is mandatory to keep accounting records, to conduct an annual audit of the accounts, general meetings, and to obtain a certificate of renewal of the business registration in a timely manner.
How to quickly open an offshore in Hong Kong
For fast business registration in Hong Kong in 2022, contact IT-OFFSHORE experts and we will help you.