Hong Kong

Hong Kong is a prestigious international financial and trade center, which has a positive effect on the business image of companies registered there. Hong Kong has a stable local currency and a developed banking system, as well as an understandable business tax system. There are no restrictions on the choice of the type of entrepreneurial activity in the region, the requirements of state bodies for the procedure for opening a company are minimal.

Offshore companies in this jurisdiction are completely exempt from the need to pay taxes (provided that there is no operational office, activities and employees in Hong Kong). In addition, under the new two-tier regime, the income tax rate for local companies has been reduced from 16.5% to 8.25% on the tax base to the first HK $ 2 million. If taxable income is more than $ 2 million, then the base tax rate applies.

In Hong Kong, there are no restrictions on foreign investment, the movement of capital, there is no foreign exchange control (funds can be freely placed in bank deposits, withdrawn or transferred from a Hong Kong account without paying taxes), there are no taxes on dividends of an offshore company.

The simplified procedure for registering a company allows you to go through this path quickly, especially taking into account the removal of all legal issues of registration when contacting West Union. Our company is a licensed secretary in Hong Kong, has its own office with a staff of local employees, from whom you can get advice on company registration, private banking, audit, tax planning.

When is it profitable to open a company in Hong Kong:

• if you are going to do business in the PRC or Hong Kong,

• want to optimize costs by using a Hong Kong company as an intermediary,

• want to optimize the tax burden for your company,

• intend to invest in companies or financial instruments in this jurisdiction.

Exporters of goods from mainland China often resort to registering companies in Hong Kong, using a Hong Kong firm as an intermediary in trade operations, thereby reducing their own tax base. It should be remembered that under the Hong Kong-China Double Taxation Agreement, dividends paid by a Chinese subsidiary to Hong Kong are subject to withholding tax at a rate of 5% (under the agreement between Russia and China, a 10% rate is applied). Dividends to shareholders of a Hong Kong company are exempt from tax.

Minimizing taxation in general is the main factor in opening a company in Hong Kong, including in the implementation of investment projects, the organization of production and processing of consumer goods in the PRC, and online commerce.

Hong Kong companies have practically no restrictions on opening accounts in world banks, which is an obvious advantage over classic offshore companies. In addition, Hong Kong banks proper have a reputation for being reliable, most of them have a developed network of branches and representative offices around the world.

Companies can significantly save on income tax, income tax and capital taxes when purchasing property on behalf of a Hong Kong company, as well as on the property tax itself.

This jurisdiction allows for the withdrawal from taxation of income from the use of copyrights, patents, trademarks, licenses by selling them to Hong Kong companies in ownership.

To work with foreign economic activity, a company in Hong Kong allows you to optimize transport and logistics schemes, especially when carrying out sea transportation, to save on income tax on their chartering and other use of ships, when registering them in Hong Kong and transferring them to a Hong Kong company.

Registration requirements.

To register a company in Hong Kong, there is no need to come there, you only need a visit to open a bank account, which can then be controlled remotely - from anywhere in the world, without the personal presence of the account holder in Hong Kong.

To simplify all registration procedures, West Union has the ability to offer ready-made Hong Kong companies with open accounts. In this case, you do not need to come, the account management key is simply handed over to the client and you can work.

A New Hong Kong Private Company Limited by Shares can be registered in 4 business days from the date all required forms are submitted. The directors and shareholders of the company can be both individuals and legal entities, both residents and non-residents of Hong Kong. One and the same individual / legal entity can be both a shareholder and a director of the company. The authorized capital is declared, i.e. does not require payment. There are no requirements for the minimum amount of the authorized capital. The registered office is provided by the Company Secretary. The presence of a registered office in Hong Kong is not a basis for tax liabilities.