Hong Kong Company Formation
Your #1 Trusted Company Setup Expert
Hong Kong Company Set Up Packages
Step 1
The client fills out the online form with all the relevant details and makes the service payment.
Step 2
We check the name availability and send you all the forms within hours.
Step 3
The client confirms the details of the forms.
Step 4
We submit all of the documents and fees on your behalf to the government departments and take care of the whole process.
After the company is set up, we will send you all original incorporation documents (e.g. Certificate of Incorporation, Business Registration Certificate, company stamps, share certificates, Articles of Associations) under your shipping instructions.
6 Areas to Consider when Incorporating a Hong Kong Limited Company
Company Name
The company name has to end with the word “Limited”.
Registered Office
A Hong Kong address is required. We provide it at a low cost.
Company Secretary
A Hong Kong resident or company is required. We can be your Company Secretary at a low cost.
Share Capital
There is no minimum requirement for share capital. It can be as low as HK$1.
Directors
No nationality requirement. An individual is however required to be the first director.
Shareholders
No nationality requirement. Either a company or an individual can be the first shareholder.
Benefits of Onshore/Offshore Company Formation in Hong Kong
A low and simple tax system and a simple company incorporation and legal framework are the two key benefits that you can obtain when incorporating an offshore company in Hong Kong rather than in other countries.
#1 Low and simple tax system
Hong Kong has a low and simple tax system, with no GST or VAT. Its profits tax rate (also known as Corporation Income Tax rate) can be lowered to 8.25% effective from the year of assessment 2018/19, with certain exceptions. The Hong Kong profits tax is charged on a source basis instead of a worldwide basis.
#2 Simple company incorporation
A Hong Kong company does not require its shareholders or directors to be Hong Kong citizens. Foreigners can be the company’s shareholders or directors. The setup fee and annual maintenance costs are low.
#3 Good legal system and framework
Hong Kong follows the common law legal system, which is a good legal system for protecting and enforcing legal rights and obligations arising under commercial contracts and transactions. Hong Kong adopts internationally recognized codes of practices in business and commerce.
#4 International finance center
Hong Kong is an international financial center. There are no barriers to access to the financial market by foreign businesses and no restrictions on capital inflows and outflows in Hong Kong. Hong Kong has no exchange controls as well.
5 Major Features of the Taxation System in Hong Kong
- Source concept – Hong Kong’s taxation system is based on source and not on a residency concept. Unlike other countries such as the United States, Canada and China, which tax their tax residents on worldwide income, Hong Kong has a simple tax system in which only income arising in or derived from Hong Kong is taxable. Offshore income is not taxable. The distinction between resident and non-resident companies is generally not relevant under the Hong Kong taxation system.
- Low rate of taxation – Hong Kong profits tax rate is 16.5%, which is one of the lowest in the world. Effective from the year of assessment 2018/19, the two-tiered profits tax rates regime is enacted. The first HK$2 million of profits is taxed at 8.25%, and the remaining profits continue to be taxed at 16.5%, with certain exceptions.
- Simple tax administration – The tax administration is very simple in Hong Kong. There are only three types of direct taxes in Hong Kong, namely, profits tax, salaries tax and property tax. There is no turnover tax, i.e. VAT or goods and services tax, which is common in most developed countries.
- No capital tax regime
- No withholding tax system
5 Major Types of Companies in Hong Kong
There are five major types of business vehicles in Hong Kong for your consideration.
#1 Limited companies (by shares)
This is the most common type of company in Hong Kong. Profit-making businesses mostly use this type of company. When you want to set up a subsidiary of your company, this is an option.
#2 Limited companies (by guarantee)
Charities, trade associations, clubs, professional bodies and religious bodies mostly use this type of company. However, it is more challenging to open a bank account for a limited company by guarantee in Hong Kong.
#3 Unlimited companies
Typical examples are sole proprietorships and partnerships. The owners have unlimited liabilities for their debts. However, unincorporated businesses do have a lower profits tax rate and lower company maintenance costs than corporations. Uncommon options like unlimited companies by share capital are also available in Hong Kong.
#4 Hong Kong branch of a foreign company
Setting up a Hong Kong branch of a foreign company technically does not have any tax benefits in Hong Kong as non-residents are subject to Hong Kong profits tax as well. The Hong Kong branch of a foreign company is not a separate entity, and so the foreign company is fully liable for all the obligations of the Hong Kong branch. An annual audit is not mandatory, and the tax bureau in Hong Kong generally accepts the unaudited branch management accounts when the branch submits its profits tax return.
#5 Representative office
A representative office is limited to conducting marketing and liaison activities. A representative office cannot engage in any profit-making activities. This is a good option for companies that would like to explore the opportunities available in Hong Kong before making any significant investment.
Key Features of Hong Kong Limited Companies
List of features of Hong Kong limited companies
- Separate legal entity
- Minimum of one shareholder
- Minimum of one director
- Shareholders and directors can be the same
- No minimum capital requirement
- No Hong Kong shareholder is required
- No Hong Kong director is required
- No staff is required to be hired
- No office is required to be rented
- Open bank accounts anywhere in the world
- An option of speedy set up in 3 hours (We are the official Companies Registry registered agent)
- A Hong Kong company secretary is required (We can be your Company Secretary at a low cost)
- A Hong Kong registered office is required (We provide the registered office at a low cost)
Hong Kong Company Set Up Packages
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Key Features of Hong Kong Limited Companies
Lite
- Company name search
- Company incorporation (includes HK$1,720 government fee)
- Business registration (includes HK$150 government fee)
- A round stamp, an authorized signature stamp and a common seal
- A share certificate book
- 10 printed copies of Articles of Association
- Free shipping of the company kit to Hong Kong addresses
- Nominee corporate secretary service for 1 year
- Registered office address for 1 year
- One bank account opening meeting arrangement
- Mail scanning and forwarding for 1 year (limited to 60 mails)
Standard
- Company name search
- Company incorporation (includes HK$1,720 government fee)
- Business registration (includes HK$150 government fee)
- A round stamp, an authorized signature stamp and a common seal
- A share certificate book
- 10 printed copies of Articles of Association
- Free shipping of the company kit to Hong Kong addresses
- Nominee corporate secretary service for 1 year
- Registered office address for 1 year
- One bank account opening meeting arrangement
- Mail scanning and forwarding for 1 year (limited to 60 mails)
Deluxe
- Company name search
- Company incorporation (includes HK$1,720 government fee)
- Business registration (includes HK$150 government fee)
- A round stamp, an authorized signature stamp and a common seal
- A share certificate book
- 10 printed copies of Articles of Association
- Free shipping of the company kit to Hong Kong addresses
- Nominee corporate secretary service for 1 year
- Registered office address for 1 year
- One bank account opening meeting arrangement
- Mail scanning and forwarding for 1 year (limited to 60 mails)
Premium
- Company name search
- Company incorporation (includes HK$1,720 government fee)
- Business registration (includes HK$150 government fee)
- A round stamp, an authorized signature stamp and a common seal
- A share certificate book
- 10 printed copies of Articles of Association
- Free shipping of the company kit to Hong Kong addresses
- Nominee corporate secretary service for 1 year
- Registered office address for 1 year
- One bank account opening meeting arrangement
- Mail scanning and forwarding for 1 year (limited to 60 mails)