Hong Kong is the world's first administrative region by the number of registered offshore businesses. The financial center of China is attractive for business as well because it is not offshore in the territory of our state, i.e. it is not included in the list of offshore zones. However, before company registration Hong Kong, you should consider that:
To open a company in Hong Kong, you should prepare:
The time it may take to incorporate companies in Hong Kong depends on the form chosen:
Hong Kong company registration is attractive because here, the business is not subject to taxation if it does not make a profit from this administrative region. If a company is not physically present in Hong Kong and is only registered, it is considered offshore.
A registered company in Hong Kong is obliged to pay:
If the company opens a bank account in Hong Kong, it is automatically considered a resident, i. e. a legal entity liable to pay taxes. There is a two-tier progressive tax scale:
In any case, if company incorporation in Hong Kong is successful, the local tax office makes the final decision on the form of taxation, which acts based on the company report.
There are several recommendations on how to successfully avoid taxation:
The most common are Limited Liability Companies or Private Company Limited by Shares.
When planning to register a company in Hong Kong, keep in mind that the main information about the organization is openly published in the relevant registry. In addition, as of 2018, any company is required to keep a register of beneficiaries and have a Designated Representative (DR) responsible for:
In Hong Kong, there are strict rules concerning the keeping of financial records. All information generated must be kept for at least 7 years, a declaration must be filed every year, and the following documents must be provided:
To get an exemption from paying taxes in Hong Kong, you should open an account outside of its territory. You can open an account in banks in European or Island countries.
Another option is to register an account with a payment system, which is easier and quicker.
For those who are planning to set up a company in Hong Kong, the cost of the service is one of the decisive factors in this endeavor. By contacting our specialists, you will get a detailed plan of company registration Hong Kong, taking into account:
Remember that the legislation of Hong Kong is periodically amended, and the working procedures of the banks, legal entities, and other subjects involved in the implementation of your goal change from time to time.
The Republic of Malta is an up-and-coming jurisdiction notable for legitimate ways to optimize taxation. At the same time, the Maltese islands are located on the trade routes between Europe, Africa, and Asia. As a result, the country has a very developed financial sector as well as a maritime business in the field of logistics.
Before registration of company in Singapore, you should study general information about this state — find out the current languages and study the legal system. Please note that the local currency is the Singapore dollar, but there is no currency control. If you plan to register a company in Singapore, you must, first of all, choose the right form of business. If you define the structure correctly, the organization can operate offshore or onshore, as well as fall under low rates of taxation.
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