| Main corporate features | |
| General | |
| Type of Company | Limited, ltd, Limited by shares |
| Type of Law | Common |
| Shelf Company Availability | Yes |
| Company Registration Period | 7 days |
| Corporate Taxation | Nil (in case of offshore status of the company) |
| Double Taxation Treaty Access | Yes |
| Automatic Information Exchange Agreement | No |
| Share capital | |
| Standard Currency | HKD, US$ |
| Permitted Currencies | Any |
| Minimum Paid-Up Capital | HKD 1.00 |
| Bearer Shares | No |
| Directors | |
| Minimum Number | One (no corporate directors allowed) |
| Residency Requirement | No |
| Publicly Aсcessible Records | Yes |
| Board of Directors’ Meeting Location | Anywhere |
| Shareholders | |
| Minimum Number | One |
| Residency Requirement | No |
| Publicly Aсcessible Records | Yes |
| Place of holding of Meetings of Shareholders | Anywhere |
| Company Secretary | |
| Secretary Appointment | Yes |
| Local or qualified | Yes |
| Keeping of records | |
| Preparation Requirements | Yes |
| Annual Return | Yes |
| Audit Requirements | Yes |
| Account Filing Requirements | Yes |
| Publicly Accessible Accounts | Yes |
| Recurring Government Costs | |
| Incorporation Fee (regardless of share capital size) | US$ 450 |
| Annual Fee (regardless of share capital size) | US$ 450 |
Corporate Legislation
All companies are registered under the Companies Act 1997 (as amended), regardless of type of economic activity carried out within Hong Kong or involvement in "offshore" activities. Subsequent amendments to the Act were moved in 2004.
Type of Company used for International Business and Investments
Private Limited Company - a private company with limited liability.
Business Activities
Any activities permitted by law.
To conduct certain activities (banking, insurance, trust, tourism, etc.) is required to obtain an additional license.
Obligatory Requirements to Company
A Private Limited Company should have a registered office and a secretary in Hong Kong.
Taxation
0% on profits earned outside Hong Kong (offshore tax exemption).
Authorized Share Capital
There are no authorized share capital size limits.
Standard Authorized Share Capital is HKD10,000 divided into 10,000 shares of HKD 1 each.
Bearer Shares
Not allowed.
No par value Shares
Not allowed.
Shareholders and Directors
The minimum number of Shareholders - one (physical or legal person).
The minimum number of Directors - one (only physical).
There are no nationality and residency requirement. One and the same person can be a director and a shareholder simultaneously.
Company Secretary
Both physical and legal persons can be appointed as secretaries. If the secretary is a physical person, he/she must be a resident of Hong Kong and; a legal person shall have a business registered in Hong Kong.
Disclosure of Information on the Beneficial Owner and Bank Operations
Hong Kong uses a public register of companies, which make all the information on directorship and shareholding available to the public.
Shareholders/Directors Meetings
Meetings of shareholders and directors can be carried out worldwide.
Filing of Annual Accounts
Yes.
Filing of Annual Return
Yes.
Registration Time Frame
Private Limited Company can be registered within 7 working days.
Shelf Company Availability
Available.
General Information
Hong Kong economy is based on free market, low taxation and absence of state interference. It is a major international finance and trade center with the highest concentration of headquarters in the Asia-Pacific region. In terms of per capita gross domestic product and gross city product, Hong Kong is the richest city in China. GDP calculated at purchasing power parity per capita in Hong Kong is even higher than in the four leading West European countries: UK, France, Germany, Italy as well as Japan.
Opening a company in this jurisdiction constitutes entering into one of the world leading financial centers.