Hk Offshore Company – A Guide To Getting You Started

A Hong Kong Offshore company varies from a Hong Kong cooperation for the reason that the offshore company will pay no taxes as the corporation pays corporate taxes at the rate of 16.5%. Hk offers easier access to the mainland China market than other Parts of Asia like Singapore.  The business registration number Hong Kong can be totally owned by foreigners.

Offshore Firm Benefits

A Hong Kong Company can benefit many benefits such as:
• Complete International Possession: Offshore businesses are created specifically for foreigners.
• Free From Taxes: As long as all your income comes from outside the country, you will pay no tax.  But take note: U.S. citizens and everybody at the mercy of global taxes need to pay all income with their governments.

Sign up

A simple offshore company may be registered in a single business day on the web by the authorized agent with the Hong Kong company.

Registrar

More complex offshore businesses require the Use Form (NNC1 form ) and the Content of Association that your shareholder as well as director signs. After they are filed, approval for the business registration number Hong Kong may take just a few business days.

Limited Legal Liability

The company’s shareholders could have limited legal liability safety for their capital efforts.

Registered Agent and Office

Offshore companies have to look for a local registered agent and can use the agent’s office address and the state registered office for getting updates and support of the system.
The authorized agent can do all the required filings as well as registration to get the offshore company incorporated and registered.

Investors

The minimal requirement is one get a business registration number Hong Kong. Foreigners can as well own totally of the shares in an offshore business. The most investors you can have is 50.

Directors

There is absolutely no minimum requirement for the number of directors. Therefore, only one director must be appointed to create an offshore business whom can be the sole shareholder.
Company directors don’t have to be residents; they could be residing in and residents of any nation.

Company Secretary

A company secretary must be appointed who’s a Hk resident.

Office Staff

Offshore companies are prohibited from employing community staff. And in addition to that, offshore companies are anticipated to do all management and business outside of Hk.

Taxation

Overseas companies usually do not pay corporate taxes so long as all of their income comes from outside Hong Kong. An offshore company isn’t allowed to work with locals.
However, an onshore nonresident company pays a business tax rate of 16. 5% on the profits.
Furthermore, there are no VAT, sales taxes, or payout taxes in Hong Kong.

Audits and Accounts

Every Hk company must definitely provide annual audited financial statements to the government. This is a requirement for every company whether big or small.
Accounting records and books should be managed to highlight the accurate solvency of the business. These records will remain private and they are not necessary to be submitted to the government.

Annual General Meetings

Annual general meetings are necessary for both investors and the directors. Meetings could be held all over the world.

Public Records

The federal government requires all registered companies to disclose the identity of their shareholders and company directors which can be found on the public record for anyone to gain access to the firm’s Registrar information.

Time For You To Form

It’s estimated that it will require 1 to 5 business days to complete the registration process. A simple business only needs one working day online to sign up and get approved. More complicated offshore businesses need an incorporation form as well as the Articles of Association to be authorized by the shareholder and the director and could take up to 5 business days to be authorized after submitting.

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