Registration of a company in Hong Kong follows a clear algorithm of actions. To do this, it is useful to know not only the laws of Hong Kong, but also the procedure and list of documents that you will need to provide to open your business and avoid the majority of mistakes.
The businessman is given the right to choose the form of ownership of the newly opened enterprise. The most common among them are:
• Individual enterprise;
• Commercial partnership;
• Private limited company.
Almost any local Hong Kong company can opt for preferential tax treatment that minimizes tax losses, and therefore a Hong Kong company can be similar to a traditional offshore company, such as the one found in the Seychelles. Although this similarity does not mean equality. A Hong Kong company must conduct an audit once a year, regardless of its tax status. The taxation of Hong Kong companies is unique in that it is based on the source of income.
As long as a Hong Kong company does not conduct business in Hong Kong and does not generate any income associated with this region, then such a company can apply for tax exemption and will be taxed at a rate of 0%.
As a result, a registered company in Hong Kong does not have an offshore reputation, and potential partners around the world are more likely to establish business relations with such a company.
A set of requirements for a commercial enterprise in Hong Kong:
• Choice of the name of the enterprise;
•Legal address;
•Director;
• Secretary – a mandatory person in every company;
• Shareholders;
• Authorized capital;
• System of taxation;
• Public information to be posted;
•Financial statements.
The process of hk company registry:
• Approval of the company name;
• Approval of the name;
• Opening an account;
• Registration with the tax department;
• Obtaining licenses;
Also, Fintech is very developed there, which greatly simplifies the conduct of business and the regulation of all company processes. These are technologies that help financial services and companies manage the financial aspects of a business. These include: software, applications, processes, and business models. Technology is at the heart of all online transactions. So opening a company in HK has a lot of advantages. The main thing is to turn to the right people for help in preparing all the necessary documents. The ease of registration and excellent taxation conditions are very attractive for entrepreneurs, and well-developed financial technologies make businessmen register their companies there.
