Get Clear Tax Benefits by Forming a Company in Hong Kong

Business people know the burden of paying taxes. This eats up their profit and they all want some way to get around it. The easiest way is to set up an offshore company for your business. This will help you not only with the tax problem but also in many other ways. 

Start by sending your application form

All you must do is to consult a Hongkong company formation firm. They will guide you and tell you what to do. The first thing you do is to contact them straight or online and fill in their application form. They will ask for a flat fee and once this is paid your application will be processed. This will in some cases be done in a matter of hours.

You can start transacting your business by evening if you submit your form in the morning. You get plenty of support from their side and fees is reasonable. Depending on the package you opt for, you get a variety of services. In the most basic package you get electronic copies of the Business Certificate and the Certificate of Incorporation along with the Registration at Companies Registry. 

 Choose small or big packages

For those who want more, they can opt for a bigger package. The difference in cost between the packages is only a couple of hundred dollars but the benefits are immense. So, most of the people will opt for the bigger packages. The next bigger package will include Original Formation documents and provisions for appointment of Company Secretary and Registered Office Address. 

Now, for your Hongkong company formation you can choose a bigger package. This will include in addition to those already mentioned for the lower packages, the guaranteed bank opening arrangements. So, you need not worry about opening a bank account for your business venture. 

Advantages of the HK offshore company

The advantages in opening an offshore business venture is numerous. One is the savings in tax. Other than this you get asset protection which is immense if you have many assets. In addition, you can increase the asset protection by opening an offshore bank account as mentioned above. 

Registrars of the offshore companies do not divulge the secrets of the owners and administrators to anyone. The activities of the directors and the shareholders remains a secret. This makes many owners and administrators to use the company to hide their business activities. By keeping the affairs and the operations a secret the businesses get an advantage over the competition. This is vital if you want to make profits in your business. 

Hong Kong has a solid legal system with a good reputation. This enables you to get plenty of international credit. Being the hub of financial dealings, Hong Kong has multiple channels for financing. The foreign currencies can be converted easily without restrictions and they can be traded and transferred freely. You do not have any binding on the business scope making it possible to conduct any form of business freely and easily. The simplified taxation system and low tax rates help the companies operate easily.