General Information

The Jurisdiction of Hong Kong

Official LanguagesEnglish and Chinese
Political StabilityExcellent
Application of the European Directive on the taxation of savingsNot applicable
Taxes on profitsNo tax if the company’s revenues do not come directly or indirectly from Hong Kong
Time required to register a companyFrom the receipt of the signed documents at our headquarters in Hong Kong:
• Ready-made company: transfer of ownership of the company within 24 hours.
• Tailor-made company:
– “Express” registration: 24h.
– “Normal” registration: 7 working days.

Characteristics of a Company

Type of companyPrivate Limited Company.
Offshore status does not exist in Hong Kong; it is a tax exemption for activities outside Hong Kong.
JurisdictionEnglish Common Law & local laws
Authorized ActivitiesThe company may engage in all activities except banking, insurance and financial activities (such as currency exchange).
Registered Local AgentMandatory.
Our company Merritt Asia Limited is authorized to represent you and will therefore be the Company Secretary of your company.
Ready Made CompaniesYes (list available on request).
We still have about 500 companies available.
Language used for documentsEnglish or Chinese.
We are of course at your disposal for any translation and assistance to their understanding.
Company NameEnglish or Chinese or both.
The use of certain names are regulated (bank, federal, trust, etc.). Please contact us to check availability of a desired name for free).

Share Capital and Shares of the Company

Currency of capitalHKD (Hong Kong Dollar)
Minimum capital to be releasedHKD 1
Amount of “basic” capital at creationHKD 10,000
Maximum authorized capitalUnlimited.
But we advise not to exceed HK $ 10,000 because it is the usual capital of a company in Hong Kong.
Release of the rest of the capitalNot required and not limited in time
Minimum number of partnersOne
Maximum number of partnersMaximum of 50 partners
Bearer sharesNot Authorized
Class of authorized sharesCommon shares, preference shares, shares with or without voting rights

Principal Members of the Company

Company Secretary

RoleRepresents the company only with the Hong Kong Authorities for all administrative procedures including legal, accounting, fiscal and HR compliance g of the company.
Not to be confused with the typical definition of a “secretary” as an office assistant. This is an official title meaning “agent”.
MandatoryYes
Local Company SecretaryYes, it must be registered with the Hong Kong Registries
Can you propose a Company Secretary?Yes. This is the mandate of our company Merritt Asia Limited.

Director

RoleThe representative of the company (equivalent to the “manager” in civil law countries)
EligibilityAny natural person or legal entity regardless of nationality.
Minimum NumberOne (natural person or legal entity)
Maximum NumberUnlimited
Disclosure to Authorities and the PublicThe Register of Directors is accessible to the public for a fee.
Place of residence of the directorCan reside anywhere in the whole world
Obligation to have a local directorNo
Nominee management availableWe no longer provide any nominee services.

Shareholders

RoleOwner of shares in the company.
Minimum NumberOne
Maximum Number50
EligibilityAny natural person or legal entity regardless of nationality.
Public Disclosure The Register of Shareholders is accessible to the public for a fee.
Shareholder NomineeWe no longer provide any nominee services.
Location of General MeetingsAnywhere in the world

Administration, Accounting and Bank account

Administration and Accounting of the Company

Accounting & AuditsIf you are not subject to Hong Kong corporate tax (so-called “offshore” activity), we default to 0% tax payable. In this case, it is not necessary to communicate your accounting and audit to the Authorities but this does not mean that they should not be done. See Accounting FAQ for more information.
Justifications of expenses and receiptsNothing to justify if you are not subject to Hong Kong corporate tax (so-called “offshore” activity). “Misappropriation of Funds” does not exist.
Balance sheet and income statement of the company to be transmitted to the authoritiesNot required.

Bank Accounts

Bank account locationCan be located anywhere but we recommend opening it for credibility and security reasons in Hong Kong (Hong Kong banking secrecy and Hong Kong law protection)
Possibility to have a bank account in Hong KongYes.
Recommended BanksWe offer HSBC, Standard Chartered Bank, Citibank, DBS Bank and Hang Seng Bank, but any other bank is possible according to your instructions.
Remote Bank AccountsAn on-site appointment with the banker is therefore mandatory except for digital banks.
Internet BankingYes. Available at all banks.
Bank Account CurrencyMulti-currency accounts at all banks (RMB, EUR, USD, GBP, etc.)
Control and Access to Company Bank AccountsYou are the ONLY one with access to the bank account of the company. In case of the use of a nominee, the latter has NO power on your bank account. This is CLEARLY indicated on the opening form of the bank account and the bank is therefore aware of the real beneficiary of the company (the latter is protected by banking secrecy strictly applied in Hong Kong).
Bank CardsDebit card (ATM) and Visa Gold or Visa Platinum credit (ceiling = amount blocked as guarantee).
Exchange ControlsNone
Opening DepositMin. HKD 10,000.
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