Hong Kong offshore corporate formation gives a business entity that can engage in international trade, other financially rewarding business activities, and other lucrative business endeavours. Companies’ construction in Hong Kong may be begun in as little as one working day. There is no paperwork to be filled out nor any trips to the office for meetings with the company secretaries. Moreover, there are no restrictions on the transfer of shares between the new registrant (which may also be your original registrant) and the company secretary.
There is also no need for a licensed accountant. All you need is an internet connection, and you are well on your way to Hong Kong company incorporation. The next step is to choose a company name. The following recommended names are available free from the IRS site: Limited Liability Company (LLC), Public Limited Company (LIC), Corporation (also known as a Limited Liability partnership (LTP)), C corporation (Corporations), Self-Regulated Partnerships (SRP), Private Company (PPC), Branch Office Set-Up (BRPS), Commercial Corporation (CCC), Public Company (PC), Non-Profitable Company (NP) and SIC. Note that not all corporations are registered with the IRS.
According to the latest CIA World Factbook, Hong Kong has a well-developed financial system with low unemployment and acceptable income levels. It is a free trade zone with access to the global market. Tax evasion is very low in Hong Kong, and the local population has high literacy levels, good average income, and active economic growth.
According to the latest estimate, there were about 1.3 million people of Chinese origin who have become successful entrepreneurs in the past decade. It indicates that there is a large population of well-developed and resourceful Chinese people. The legal system in Hong Kong is highly developed, and it provides a good platform for aspiring entrepreneurs. Companies can easily register in the country under the simplified tax regime of Hong Kong. The companies do not need any local agent or secretary to open an account.
A majority of entrepreneurs come from high-educated families with a long tradition of business and commerce. They take advantage of the low cost of doing business in China and the absence of many of the formalities usually associated with doing business in China. They also use the benefits of the free trade system offered by the Chinese government. The primary benefits of registering a Hong Kong company are a competitive tax regime, the absence of red tape and bureaucracy, and easy access to the Chinese market. These three major factors are why so many companies have chosen to establish their registration at the Special Administrative Region of Hong Kong.
When you decide to incorporate a business in Hong Kong, the main procedure involves submitting the Articles of Association and payment of the registration fees. Besides, there are other additional requirements such as annual auditing of the books and records by a qualified accountant and registration of the company with the China Exchange. You will be required to pay the registration fee when you file the Articles of Organization and open the company accounts.
If you aim to increase your business size in Hong Kong, it is essential to register the company correctly. You will require the services of a company formation agent who will help you handle all the necessary procedures needed for the incorporation of a company in Hong Kong under the various rules and regulations of the Chinese legal system. The company formation agent will also help you understand the details of the Company Registration and Limited Liability Company laws of the foreign exchange controls.
Company incorporation in Hong Kong will require all the shareholders to have their assets registered in the company’s name. It means that all the directors’ profits will be transferred into the company House’s hands through a bank account under the company House’s control. All the other shareholders will receive dividends from the company’s tips. The company can issue shares to its different shareholders. All the shareholders must sign the Articles of Association and pay the necessary fees to maintain the company.