Remotely incorporation of Hong Kong company

8/10/2022

Hong Kong Company Incorporation Requirements:

1.      Minimum one individual director at age of 18 years old or above (can be any nation), and additional directors can be a body corporate

2.      Minimum one shareholder and maximum 50 shareholders (can be individuals or body corporate)

3.      A statutory company secretary (ordinarily reside in HK or a Hong Kong licensed company)

4.      Must have a registered office in Hong Kong

We can

·        act as company secretary service

·        provide HK office address for set up a company

·        assist to open the bank account opening remotely

Therefore, foreigners or non-residents can start a business in Hong Kong by having a licensed company secretary and a registered Hong Kong office address.

How to set up a Hong Kong company?

1.      Choose the name of the company

2.      Decide the director and shareholder

3.      Prepare a business plan

4.      Deliver application documents and payment (GCCPA act to finish all application document works)

v  application documents:

ü  Articles of Association (AA)

- A document that specifies the regulations for a company's operations and defines the company's purpose

ü  Form of Incorporation (NNC1)

- Personal identity information of founder Members, Company Secretary, and director

ü  Notice to Business Registration Office (IRBR1)

 - Business registration certificate

5.      Obtain a Certificate of incorporation (CI) and Business registration certificate (BR)

6.      Success setting up a company

GCCPA can help act to finish all application document works (including Articles of Association, Form of Incorporation, Notice to Business Registration Office and obtaining Certificate of incorporation and Business registration certificate) and submit them to Hong Kong Company Registry.

  ü   Convenient

  ü   Easily

  ü   Faster

What should I named my company?

A company name can be in either English or Chinese (Only Traditional Chinese characters) or in both.

For an English company name, it must end with the word “Limited”

For the Chinese company name, it must end with the characters “有限公司”

We can help you to conduct a name search to rule out the possibility of identical or having a similar company name. *

*The registrability of a company name can only be confirmed after the application documents have been processed by the Company Registry.

Am I subject to tax after set up a company in Hong Kong?

Hong Kong adopts a territorial source principle of taxation. Only profits arised in Hong Kong are taxable here.

ü  Profits Tax

If you carry on any trade, profession or business in Hong Kong, you have to pay tax on all your profits arising in or derived from Hong Kong.

The first Profits Tax Return will be issued about 18 months after your business has been commenced.

Two-Tiered Profits Tax Rates

First HK$2 million   8.25%

Over HK$2 million   16.5%

û  No VAT and GST

û  No Capital gain

û  No tax on dividend

û  No tax on offshore income

The advantages of setting up Hong Kong company as the intersection of Sino-foreign trade

Located at the heart of Asia, Hong Kong also thrives on close financial integration with Mainland China, extensive networks with the rest of the world. Moreover, Hong Kong benefit from being one of the global trade, financial and shipping centers, which attracts investors from all over the world to invest.

• Hong Kong is one of the recognized free trade zone. There are no foreign exchange controls in Hong Kong so that capital flows in and out of Hong Kong without restriction.
• No limitation on business scope and simple follow-up services.
• Worldwide marketing networks and Hong Kong is a logistics center in Asia.
• Hong Kong's well-developed internet and communication network allows information flow and exchange faster and more efficient, provides an ideal platform for international trade.
• Hong Kong established a sound legal system, a robust financial system and a stringent regulatory mechanism, which ensure a fair competition market environment.
• Simple tax regime and low tax attracts high business profits and investment returns.
• As an international financial center, Hong Kong offers a wide range and diversify channels in financing.