Because Hong Kong is increasingly becoming the corporate hub of China, there are increasing numbers of companies setting up operations. Companies wishing to establish an international presence in China will find the company’s process set up in Hong Kong extremely simple and cost-effective. Hong Kong is free from many of the hassles usually associated with conducting business in China.
If you wish to establish an overseas company registration Hong Kong, you will find it very easy to incorporate a company in Hong Kong. There are several reasons why a company formation in Hong Kong is more straightforward than those in China. Firstly, the corporate laws in Hong Kong are much less complicated than those in China. Consequently, companies can save on the expenses related to incorporating in China. The other significant factor is that the laws for companies set up in Hong Kong are almost identical to that of the rest of the English-speaking world.
You will also enjoy other essential benefits of company formation in Hong Kong aside from easy company set up. For example, the tax treatment is relatively simple. Unlike many countries, you do not need to pay any capital gains tax on the profits from the sale of shares or other assets in your company. Similarly, you do not have to pay income tax on the salaries paid to the employees. Moreover, you will not be required to pay corporate taxes or other kinds of taxes.
The other significant advantage of company formation in Hong Kong is the availability of the most effective financing options. It includes the stock market and other derivatives trading, bank accounts, and offshore investing. In addition to these options, you can also choose a foreign portfolio, franchise, property management, and remittance services, among others. Thus, if you have decided to establish an overseas company, you will not only be able to enjoy an easy company set up but also enjoy an array of options that would otherwise be difficult to explore.
To enjoy the benefits of company formation in Hong Kong, you should follow specific basic rules. First, make sure that the overseas company registration Hong Kong firm is legitimate and stable. It should be registered in the Companies Registry of Hong Kong. It should also be written in a country where its primary business or service is offered. To find out any company’s status, you can contact the Companies Registry Office or the Financial Services Authority.
Another essential thing to remember when setting up an overseas company is to follow the stipulated time limit for registration. A company can only be registered with the Companies Registry after one year of its formation. Suppose it is not reported within the prescribed time limit. In that case, the offshore company formation in Hong Kong will become ineffective, and you will have to end up writing the company again.
The Companies Registry is the only authoritative place where all laws regulating international business activities are contained. The offshore company registration Hong Kong firm needs to be aware of the local rules and regulations governing its activities. Most importantly, these rules and regulations should be made known to the staff of the firm. Therefore, communication between the overseas company registration Hong Kong firm and the local government should be regular and adequate.
The last but not the least important thing to note is that you must appoint a qualified secretary or director to handle correspondence between you and the local authorities. By doing so, you will be able to save time and avoid any mistakes. Besides, when handling correspondence to the Companies Registry, make sure that you have your company name and address on the letterhead. It will also help in making the process simpler. For any overseas company formation in Hong Kong, there are several resources from which you can get the necessary information. You can consult the Companies House itself, or you can search online for useful information.