Hong Kong Limited Company Incorporation
Advantages of Setting up a Company in Hong Kong
• Simple taxation system with one of the lowest tax rate in the globe (HK profit tax rate of the first HK$2 million is only 8.25%)
• With the absence of foreign exchange controls, funds can be circulated freely; foreign currencies can be exchanged and transferred as needed, and credit operations can be handled conveniently and quickly
• Gaining international credit by making use of Hong Kong's reputation
• Hong Kong, as an international financial centre, has multiple financing channels from different international banks
• Tax needs to be declared just once per year
R&B provides a full range of specialized corporate secretarial service to our clients. We commit to minimize uncertainties and answer doubts of our clients when encountering related laws, and evaluating whether the company strategy is meeting with statutory requirements of the jurisdiction. We provide information on the most up-to-date relevant corporate laws and regulations and conducting analysis upon the impacts faced by the company. With our experienced team, we are able to help your new company starts a business and generate profits ASAP.
There shall be at least one shareholder and director over 18 years old
One legal secretary (position taken by a Hong Kong permanent resident or Hong Kong company)
There shall be one registered address in Hong Kong
English name of your company
Copies of ID cards or passports and address proof (issued within 3 months) of shareholders and directors
Registered address of the company (R&B can provide)
Company Secretarial Service
According to the Laws of Hong Kong, each company must hire a company secretary who must reside in Hong Kong. However, the company secretary must be a third party and not the sole director of the company. Of all the duties, the company secretary has to make certain that the company is in compliance with the statutory requirements of the Hong Kong Companies Ordinance ("HKCO") and must maintain the statutory documents of the company.
The statutory requirements of HKCO included but not limited to: incorporation of the company, filings of company documents, issuing of shares and papers to the government. R&B will also assist you in overseeing the applicable regulatory requirements for on-going compliance.
Significant Controllers Register
The requirement on keeping the significant controllers registers by HK companies is effective since 1 March 2018.
The relevant regulations under Companies (amendment) Ordinance 2018 are as follows:
Chapter 9 (P.31 – P.33)
9.1.1 Failure to comply with the above obligations is a criminal.
The company and every responsible person of the company are liable to a fine at level 4 (i.e. $25,000). Where applicable, there is a further daily fine of $700.
9.2 Obligations of notice addressees
A person who has received a notice relating to the SCR issued by a company must comply with the requirements stated in the notice within one month from the date of the notice.
9.2.1 Failure to comply with any of the requirements in the notice within 1 month from the date of the notice is a criminal . The notice addressee and every related person (if any) are liable to a fine at level 4 (i.e. $25,000)
R&B provides assistant in respect of the above ordinance and if existing customers need to prepare Significant Controllers Register.