Why is Hong Kong the easiest location to set up a company?

Hong Kong is the close proximity to the China and Asia Pacific. It has developed into an international financial and business hub and is well served by Hong Kong banks and branches of international banks.  This city can be summarized as well-developed economy, effective and attractive tax regime, and top-class infrastructure, stable and free economy across the world.

Hong Kong is also well-known for best offshore company incorporation due to its attractive tax systems. This city has low tax jurisdiction which attracts foreign entrepreneur to set up their business here and make more profits. The minimum profit tax is 16.5% and salary tax is 15%. There is no tax is charged for outside generated profit. There is no sales tax, no withholding tax, no value added tax, nor any other tax in Hong Kong. 

Hong Kong is ranked as one of the easiest location to set up and do business across the world. As we know that has a liberal economy, therefore, doing business here is easier and reliable. Moreover, it provides 100% foreign ownership to the entrepreneurs. There is no special authorization is required from the government prior to a company incorporation.

You have to appoint minimum one director and one shareholder for offshore company incorporation. Both director and shareholder are above the age of 18 years and can be of any nationality. There is also one company Secretary is required that is of Hong Kong nationality. Secretary should know all the related work which can be easily done. 

If you have an internet business then you can open a virtual office, where you did not need to relocate your company to Hong Kong. If you have a laptop with internet facilities then you can easily formulate a company in without going anywhere. If you are new in Hong Kong and do not know the policies then you have to hire a firm who will guide you through the entire process. Offshore company incorporation is not an easy task but agency will make your process easier and reliable.

We at Stephen is one of the leading company that offers world-best services to the foreign business investors as well local; entrepreneur also. We will provide you the best and easy way for offshore company incorporation.

Company Formation- Hong Kong

In the age of Globalization, Hong Kong is the perfect place to start a business. Over a past two decades, the majority of business investors start their business in both locally or internationally. The government of Hong Kong supports the foreign business investors to set up their business and provide 100% foreign ownership. Having low tax system, well-developed infrastructure, and business-friendly economy attracts them to form a business here. Hong Kong also has a perfect doorway to the Chinese markets; if the investors have a trading business then the Hong Kong is an ideal choice for them.  You need a government help for Hong Kong Company Formation. The entire process of company registration totally depends on your choice of a form of business which you are planning to do. There is no need to relocate in Hong Kong; if you have an internet business then you can open a virtual office. In other words, you can operate your business from any country across the world. You just need to appoint the Company Secretary who will take care of your each and every thing in Hong Kong.

Conditions to start a company in Hong Kong

•   A company must have minimum one director of any nationality over the age of 18 years.
• A company requires only one shareholder over the age of 18 years of age with no restriction in Nationality.
• There must be one resident Company Secretary. 
•  Director and shareholder can act as a same but can act as a Company Secretary.

Due to its stable economy and effective & low tax system, it is easy to form a company in Hong Kong. You have to pay tax once in a year. If the Company generate profit inside the country then the company is liable to pay 16.5% tax on that profit. If the Company generate profit outside the country then the company is liable to pay 0% tax on that profit. There is no sales tax, no withholding tax, no value added tax or any other tax. 

Do you want to know more about Hongkong Company Formation?  We will happy to help you with starting a company in Hong Kong.

Hong Kong is the Perfect Choice for Offshore Company Incorporation

Hong Kong does not have any particular law, which governs offshore company incorporation in Hong Kong. This is the most popular cities around the world for offshore company incorporation because of its world best advantages which include low and effective tax regime, their political & social stability, stable economy, foreign exchange control, and ease of doing business etc. Establishing an offshore company in Hong Kong is an ideal choice for conducting well-developed infrastructure, and world-class banking facilities, investment trade, and asset protection.

Benefits of Offshore Company Incorporation

EFFECTIVE TAX SYSTEM: - The reasons of the majority of business investors are incorporating a company in Hong Kong is just because of tax policy. If the government generates profit inside the Hong Kong so the minimum tax is 16.5% on that profit. If the company is generated profit outside the Hong Kong, then the 0% tax is charged on that profit. The sales tax, withholding tax, value added tax and other taxes don’t exist in Hong Kong.

EASE OF INCORPORATING COMPANY: - Hong Kong has a stable and liberal economy in the world; therefore, offshore company formation is an easy procedure. Hong Kong is ranked as the best place to do business here easily. Establishing a company in Hong Kong is reliable & reasonable and the government of Hong Kong supports foreign investors and offers them for 100 % foreign membership.

POLITICAL & ECONOMIC STABILITY:- Hong Kong is considered as the Special Administrative Authority of China, therefore, it is a politically stable economy.

TRUSTED REPUTATION: - Hong Kong is considered as a low tax haven and has good and trusted image in every field; therefore, offshore company incorporation in Hong Kong is the best choice. Hong Kong is only one jurisdiction that provides international tax information and exchange.

REQUIREMENT:-

There is minimum one director and unlimited maximum directors are required of any nationality. Directors should be over the age of 18 years.

There is only one shareholder is required in case of offshore company incorporation and there is no restriction in their nationality. The shareholder must be above the age of 18 years.

There is a requirement of Company Secretary of Hong Kong nationality. The secretary takes care of all things in Hong Kong.

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.

Few Steps to Choose the Honest and Reputable Firm in Hongkong

Hongkong has a stable economy with world-class infrastructure which helps to set up a company easily and quickly here. If you know about Hongkong rules and regulation then Hongkong Company formation is not a lengthy process. But if you don’t know about their rules and the procedure then it is not that much easy. This process can be easy if you hire a firm for that. There are numerous firms who facilitates with opening a company they can take care of everything from start to the end. It is most important to hire the best and reputed firm who make this entire process easier and reliable.

If you are searching on Google then you will find a number of firms which helps you for Hongkong Company Formation. While some are honest firms and other is fraud firms. Sometimes, this happens when you do not know the process than many fraud companies take advantage for that. They charge high prices but do nothing so; you have to aware of this type of fraud firms. There are the certain steps which you help you to find the honest firm. Here are the few tips which help you to find the reputed firms while choosing Hongkong company formation which include:-

1. Firstly, you have to check the firm’s website properly. Simply just Google it out and search for an agency you will find the best services provider after that you have to check that is their website make properly. If you understand their services clearly then it is good for you. You also have to check the language is the firms have well in English language or not. It is also important that they provide a physical address and office phone number of the Hongkong company formation firm.

    2. Secondly, you must have more information about firms because it helps to find the honest firm easily. Let suppose, you search in Google for The firm then you have to check that someone is not complaining about the company in a forum, blog, and website. If you get more information about the firm and their services in the website then it is the good and honest firm. Fraud Company did not mention any detail regarding the company.

3. After you check the website professionalism and also did not find any complaints regarding their services then the last step is to contact the firm.  If you contact the firm in office hours for Hongkong company formation then you must check whether they pick the call or not. English is the universal language which is used in everywhere. All the documentation is done in the English language So, It is also important that they speak a decent English language. If they are using Pay Pal or wire transfer for collecting money. If they are using this then they are the honest firm. 

These are the three main steps which you can also keep in mind while choosing honest Hongkong Company formation firms. We at Stephen, provide the best and reliable facilities to the clients which are mentioned in above.