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Hong Kong is known as a tax-friendly country. It has an independent and free trade policy. Entrepreneurs and multinational firms have increasingly aimed for company formation in Hong Kong. For Hong Kong Company Registration procedure read the complete article.
Registration of a private limited company in Hong Kong doesn’t involve capital contribution on the subsequent incorporation. In this segment, we will discuss the procedure for company formation in Hong Kong.
For Company Registration in Hong Kong, You have to declare some amount of capital as it is on signing the articles of association without paying the money or assigning the capital.
Also, there are no taxes on dividend, for a company which is incorporated in Hong Kong. Only if the profits are derived from the Hong Kong region, a flat tax rate of 16.5% prevails.
Also, there are various programs designed to help overseas companies, set up in Hong Kong like Loan Guarantees, Incubator operations, funds for marketing. It is one of the most business-friendly cities in the world. It is strategically located in the heart of Asia & has an independent judiciary.
It thrives on ‘One Country, two systems concept. It is one of the least corrupt economies of the world due to its transparent structure.
* Both can be the same persons (Individual & Corporate)
* HSBC Banks are the biggest player in the market along with Hang Seng Bank where the majority is owned by HSBC; these Banks are generally willing to open accounts for non-residents.
Since last two decades Hong Kong has been ranked as world’s freest economy by heritage foundation/wall street journal). It is an externally oriented economy.
A Green Box with official documents forms the Government authorities of Hong Kong is received at the end when incorporation is affected. It comprises of the following docs:
Electronic Certificates after the filing of Incorporation will normally be issued within one hour after delivery of documents at the e-registry.
This will be evidenced by an email notification on the registered mail ID which will contain the Certificate Download Link.
Hong Kong witnesses highly attractive Tax regime-
Also, there are no foreign exchange controls in Hong Kong. It follows a single tier tax system.
By aligning its tax policy with growth-oriented economic goals, Company formation in Hong Kong has emerged as one of the preferred locations for most global entrepreneurs and business enterprises.
Read our article: Is a Resident Director required for a company in Hong Kong?
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