Hong Kong Offshore Company Setup has become increasingly popular among overseas entrepreneurs in recent years. The reason is that Hong Kong has a highly conducive environment for setting up an offshore business. Hong Kong has kept up with developments in international industry and has thus experienced rapid economic growth. The free trade and low taxes that the country enjoys attracting numerous global corporate headquarters to set up their offshore business units.
One of the main benefits of having a Hong Kong offshore company setup is that you can benefit from many tax schemes. Unlike many countries worldwide, Hong Kong provides its citizens with the opportunity to enjoy several tax concession options. You choose to have an offshore company with no tax obligations at all, or you can have an intermediary company that charges a meagre tax rate. Many people prefer the latter option because they are assured of paying a low tax to the government.
Another reason why many people are attracted to Hong Kong offshore company formation is the low cost. It can be said that you can save up to 30% by using an offshore company formation scheme in Hong Kong. You do not need to pay any taxes on the profits because they come entirely from the foreign company’s house that operates from there. There is no need for annual registration fees or any other complex financial paperwork since your transactions are solely in the foreign company’s hands.
If you are looking to establish an offshore company in Hong Kong, you will need to choose the appropriate company name. An easy way to do this is to choose a name that relates well to your business or occupation. It is beneficial if you intend to sell the new company shares to your current employer or the public through their stock market. You do not need to apply for an individual tax number for the new company. Your employer will provide this, and it is not required by law.
The next step to establish an offshore company in Hong Kong is to look for an offshore company administration service. There are lots of companies that offer such services. Most of them are based in Hong Kong, and they can help you with the registration, transfer of shares, and all the other services you need for setting up your business in this city. These companies can even process your company checks and give you the tax benefits when submittingthem to the government. You may also have to deal with customs brokering services, but another company can do these, and you do not need to pay them anything for it. If you know how an offshore company setup in Hong Kong works, you will understand how these companies operate.
A company secretary is an important figure in any business. If the company has no company secretary, then the company will not function properly. A company secretary performs various functions, including accounting, bookkeeping, payroll, and other clerical tasks. A company secretary can be specialized in specific tasks. The business you are dealing with will define the duties that the company secretary will have to undertake.
You will have to pay a registration fee for your foreign company, including the overseas register’s prices. After this, you will have to submit your Articles of Association to the office. These articles include your business’s nature, registered office, the registered agent, and the shareholders. You will need to pay an administration charge for the offshore company formation in Hong Kong. The office will then process the registration, and all the necessary checks are done.
After all these processes have been completed, you will receive a registration number and all required documents. Remember to check for any deficiencies or errors. You will also need to file an annual return, and this needs to be submitted to the office before the foreign company registration can receive the tax benefits. If any mistakes are made in advancing the foreign company registration, these will have to be corrected before receiving the tax benefits. Therefore, you must work with an excellent offshore company formation specialist to get things right the first time.
Hong Kong offshore company setup