There are usually two options available in case you have to commence Hong Kong company formation. The very first approach involves creating a brand new company from scratch. Another approach simply involves purchasing a business that has already been created.
When creating a brand new company from scratch, you first need to run a search for your company's name. It will most likely get you an extended time to register a brand new company. A small business registration license one of the licenses required. The license is generally inclusive of government fees that might add up to HK $ 250.
If you want to acquire an already created company, you'll need to select your company name from certain list. The list usually consists of shelf company names which have never been used. The processing time for this method is a lot shorter than registering a brand new company.
Why Hong Kong?
This international city provides a very competitive economic environment. It's an open and market oriented system that is without much government interventions. Investors have much freedom in choosing which business operations to undertake. This city tops the planet economic environments with regards to freedom of operations.
Another reason that endears this Asian City to investors as an offshore company location is its simple capital flow. Hong Kong company formation The easy flow of capital from the town abroad increases your company's economic freedom. The possible lack of restrictions and controls ensures that major world currencies including the US$, GB Pound, Japanese Yen etc. are remitted easily to and from the city.
There's no requirement for almost any capital investment. As a shareholder you're only required to append your signature to the M & A declaring you will contribute the company's capital. You don't need to cover up anything to the company.
Opening an offshore bank-account is straightforward throughout your Hong Kong company formation. All that is required of you as an investor is that you provide proof your address. You'll need to supply a copy of your passport, your company documents and a general description of your business. These documents are widely accepted by many international bankers.
In this Asian City, trust laws are applicable. If as an investor, for almost any personal reasons you require your status hidden, you can do this by way of a trust arrangement. In this scenario, the trustee holds shares for you while the beneficiary. He also holds the trust deed which acts as prove he is the real owner of the shares. The trust laws are applicable in Hong Kong and not everywhere else. In countries like China where such documents are invalid, these laws are unenforceable and therefore ineffective.
You'll need to keep the company's accounting records and annual statutory audits. These have to be filed to the City's tax departments annually. For all business transactions, the city's Inland Revenue Department requires companies to keep proper records and accounts. These are used to ascertain precise figures of your incomes, expenses and losses.
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