More information about Hong Kong
Hong Kong, a special administrative region of China, is a very interesting destination for non-residents because it’s a highly reputable low-tax jurisdiction. Limited companies registered in Hong Kong are subject to accounting and have to pay about 18% tax for their operations in Hong Kong. However, international operations do not attract any tax. Unlike a country like Belize that serves as a classic zero tax jurisdiction, local and offshore firms do not form different bodies in Hong Kong. There is only one kind of company, which does have an excellent reputation and continues to permit the creation of global earning without incurring any tax. Having said that, this top-ranking status has a downside – the mandatory requirement for bookkeeping and filing of accounts. Whether a company has business operations in Hong Kong or not, it has to file accounts. While you can always hire an accountant yourself, you can also rely on us to find a local accountant.
The great position that you get to enjoy in this tax-free atmosphere is tempting. Much to some people’s surprise, aspects like incorporating and operating an international company is a hassle-free processs in Hong Kong, regarded as one of the ‘Asian Tigers’ along with Singapore, South Korea and Taiwan. There are neither any permit restrictions nor any license regulations when you kick start an offshore firm in Hong Kong. You can remain more focused on your business when you don’t have to spend time and resources tackling bureaucratic hurdles.
In the past governments were in the habit of discrediting offshore structures, apparently to scare away business owners and hold them back from venturing into offshore sectors. Today, there is a complete turnaround in this approach, and global corporations have proven beyond a doubt that offshore firms can be operated by adhering to the laws. Corporate giants like Google and Apple have shown tremendous growth in the recent years, and they owe much of it to the prevailing favorable environments they choose that permit massive tax reductions.
The residence status of the management is a vital part of tax planning. While well-established global corporations deploy local staff, such an arrangement – a critical element of offshore structures – may prove quite expensive, if not beyond the reach of small companies. OCQ comes to your rescue by making available a diamond package that has provision for providing nominee directors and shareholders. You will continue to be in full control as the ultimate owner despite the official management being in the hands of appointed managers based offshore.
When it comes to tax and wealth planning, OCQ is of the firm opinion that there is no jurisdiction with better reputation than Hong Kong. In addition, here businesses from all industries – no matter how big or small they are – are welcome. You may be excited to learn that the registration of an offshore company in Hong Kong takes place at a quick pace, with the registrar of companies usually only taking a week to go through the entire procedure.
OCQ serves as an ideal partner for setting up an offshore company. By understanding the requirements of all the parties involved, OCQ knows the real needs of incorporating a firm. After all, OCQ reads the pulse of customers, who look for a simple but speedy and efficient way to register their companies. We always go the extra mile to meet our customers’ needs in full and see that your plan of commencing an offshore company in Hong Kong goes smoothly.
We’re central to the formation of over 7,000 companies each year, and we will continue to deliver to your complete satisfaction. You can always contact us at firstname.lastname@example.org to hire our skilled team of experts.