Hong Kong is on the south east coast of China.
With the handover of sovereignty of Hong Kong to China, the newly
created Hong Kong Special Administrative Region has a vital role
to play in China's continuing economic development. This infrastructure,
a low tax rate, no exchange control and a Government committed
to minimum regulation are the ingredients which have made Hong
Kong a significant gateway for investment into and from China.
There is no requirement to disclose beneficial
owners of the Company under the Hong Kong Companies Ordinance.
● Exchange Control
There is no foreign exchange control in Hong
Kong and no restrictions on foreign investment or on the transfer
of income and capital in foreign currencies.
Hong Kong companies are incorporated pursuant
to and governed by the Hong Kong Companies Ordinance. The most
common type of company is private company limited by shares. Unlimited
companies and companies limited by guarantee may also be formed.
We may incorporate Hong Kong companies specifically
to client's instruction. It takes about 7 working days for the
issuance of the Certificate of Incorporation. Alternatively, shelf
companies are immediately available and can be restructured as
the client directs. Following are some basic
requirements for Hong Kong companies:
Company names which are the same as or similar
to existing names are not allowed. The name must be in English
or Chinese or both in English and Chinese and must end with the
Share Capital /
There is no minimum share capital requirement.
The common authorised capital is HK$10,000 and the minimum issued
capital is one share. Share capital can be denominated in currencies
other than Hong Kong dollars and multiple currency share capital
is permitted. Separate classes of shares with different rights
to dividend and in different currencies are permitted.
The minimum number of shareholder is one. The
shareholder may be either individual or corporation and need not
be a Hong Kong resident.
Directors / Secretary
The minimum number of director is one, who may
be individual or corporation. The director need not be a Hong
Kong resident. Details of the directors must be filed with the
Companies Registry and made available to the public.
A company secretary must be appointed. The sole
director cannot be the company secretary. An individual secretary
must be a resident of Hong Kong. A corporate secretary must have
its registered office or a place of business in Hong Kong. Details
of the company secretary must be filed with the Companies Registry
and made available to the public.
All companies must have a registered office in
and Annual Requirements
- Any company carrying
on business in Hong Kong must obtain a Business Registration
Certificate. The annual Business Registration Fee is due and
payable within one month of the date of incorporation and then
annually on the anniversary of incorporation.
- Normally, the first set of profits tax return
will be issued to companies about 18 months after the company's
incorporation and annually at the end of each tax year (31st
March). The first set of tax return must be submitted with audited
accounts within three months of its issue. Subsequent tax returns
are required to be submitted with audited accounts within one
month of its issue. Generally, extension for filing may be granted
upon request by the company's tax representatives.
- Inland Revenue Department may issue an Employer's
Remuneration and Pensions to companies at the end of each tax
year (31st March). Every company must report remuneration paid
to the employees within one month of its issue.
- Every Hong Kong company must have an annual
audit performed by a qualified independent auditor.
- Every company must hold an annual general
meeting within 18 months of its incorporation and at least once
every calendar year thereafter to receive the audited accounts
and elect and appoint officers.
- Within 42 days of the anniversary of
the company's incorporation, an annual return must be filed
with the Registrar of Companies.