HONG KONG OFFSHORE
For over 11 years, Unitrust Capital Corp provides quality competitively-priced Hong Kong offshore company formation services. Over the years, we have completed numerous Hong Kong incorporation solutions for our esteemed clients.
HONG KONG FINANCIAL CENTER
About Hong Kong:
Hong Kong is situated on the southeastern coast of China.
About 7.4 million people live in Hong Kong. The official languages are Chinese and English. Most people in the service industries speak English.
Hong Kong was claimed as a crown colony by Britain in 1841 and became the Hong Kong Special Administrative Region (SAR) of China on 1 July 1997 following an agreement with the UK. Under this agreement (Joint Declaration of the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the People's Republic of China) China made a commitment that its socialist economic system will not be imposed on Hong Kong for the next 50 years. This means among other things that Hong Kong enjoys a high degree of autonomy in taxation, corporate and banking law and their regulation.
You may wish to see here the full text of the pertinent Article 3 of the Hong Kong Joint Treaty.
Hong Kong retains British Common Law. The Special Administrative Region does have an excellent communications, shipping, and aviation infrastructure. All top international banks are represented and actively work here.
The territory is one of the five largest financial centers of the world. About a half million Americans visit Hong Kong in a normal year on business.
It is indeed a "main gateway to China" for multibillion foreign investments into this rising economic superpower. The Closer Economic Partnership Agreement (CEPA) was signed in 2003 by the Central People's Government and the Government of the Hong Kong Special Administrative Region and came into effect from 1 January 2004. These CEPA benefits are exclusive to Hong Kong - no other jurisdiction in the world can enjoy these preferential market access and import tariff rules. This makes HK companies an excellent corporate shell for investments in mainland China.
HONG KONG TAX SYSTEM
For further information about taxes, please see Hong Kong Taxation.
- Territorial principle of taxation: taxes are not levied on the income originated from outside of Hong Kong.
- The tax rates even in respect of local income are very low compare to Western countries. The corporate tax rate is 17.5% (applicable only to the profits in the territory of HK). Salaries tax is also very low at only 16 percent imposed on all salary income of individuals derived in or from Hong Kong.
- The tax laws of Hong Kong are very simple compared to other onshore jurisdictions
- The government of China does not levy taxes on the region.
- There are no capital gains taxes, no withholding taxes on interest and dividends, no sales taxes, no VAT, no annual net worth taxes, no accumulated earnings taxes on companies which retain earnings rather than distribute them, no collection of social security benefit. In the long term the local authorities intend to completely phase out stamp duty on the sale and issue of shares and securities and to reduce direct taxes further.
- Exclusive benefits for investments in mainland China.
HONG KONG COMPANY
The best offshore/onshore tool in Hong Kong is Private Limited Company
For further information, please see Hong Kong Company page.
- Expeditious formation process
- Corporate tax on offshore profits: NO
- Standard authorized share capital HK$10,000
- Minimum number of directors: ONE
- Minimum number of shareholders: ONE
- Disclosure of directors' names in public records: YES
- Disclosure of beneficial owners' names in public records: YES
- Disclosure of shareholders' names in public records: YES
- Bearer shares: NOT ALLOWED
- Non-resident directors: ALLOWED
- Local Registered Office required: YES
- Company Secretary required: YES
- Annual return filing requirements: YES
- Employer's Return filing requirements: YES
- Profits Tax Return filing requirements: YES
- Applicable legislation: 32 Title: COMPANIES ORDINANCE (as amended on 13/02/2004)
Please see HONG KONG SETUP COSTS for various Hong Kong offshore incorporation options.
Contact us today to obtain further information on incorporating a Hong Kong company.
Offshore Incorporation Home.
Hong Kong Offshore: Description of Hong Kong as a tax haven
Hong Kong Company: Description of Hong Kong company features
Hong Kong Company Registration Fees: Costs to setup a Hong Kong company
Hong Kong Incorporation: Description of the incorporation procedure
Hong Kong Taxation: Key facts about taxation of Hong Kong companies