General information

Company structure

• ▪Only one shareholder (can also be a legal person, no nationality restriction)
• ▪Only one director (only natural person, no nationality or residency restrictions)
• ▪At least two Responsible Officers (ROs) (in all cases at least one RO resident in Hong Kong must available at all times to supervise the business)

Confidentiality

• ▪Shareholders’ details – are part of the public record, if you wish to avoid it then please request a nominee service
• ▪Directors’ details – are part of the public record, if you wish to avoid it then please request a nominee service

Taxation

• ▪Hong Kong tax on a territorial basis. Profits tax is levied at the rate of 16.5% for income derived from Hong Kong
• ▪Profits derived from outside Hong Kong is tax exempt. There is no withholding tax on interest or dividends and no capital gains tax. A company, which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax in Hong Kong on those profits
• ▪Double Taxation Agreements: Hong Kong has comprehensive double tax agreements with Austria, Belgium, Brunei, Canada, Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Jersey, Kuwait, Liechtenstein, Luxembourg, Malaysia, Malta, Mexico, Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, United Kingdom, Vietnam, Qatar and the Mainland China respectively to relieve taxation on income, for instance, dividends, interest income and royalties

Other benefits

• ▪Hong Kong imposes no restrictions on foreign investments and has no foreign exchange controls
• ▪Ease of business establishment and licensing 
• ▪Favourable tax regime
• ▪Conducive regulatory environment with formidable anti-money-laundering legislation
• ▪Company meetings need not be held in Hong Kong
• ▪An annual general meeting (AGM) must be held once in every calendar year and not more than 15 months after the last preceding AGM. However, a company need not hold its first AGM until 18 months of its incorporation
• ▪Companies may dispense with the holding of AGMs by unanimous shareholder’s consent

Accounting requirements – A Hong Kong company must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the directors.

Audit requirements – Every company must appoint an auditor who must be a member of the Hong Kong Society of Accountants and hold a practicing certificate. Although there is no requirement to file accounts with the Registrar, there is a requirement to file accounts with the tax authorities. Annual return is required to be filed to the Companies Registry within 42 days after the date of anniversary of incorporation, and then each year thereafter. Professional fees will vary depending on service providers.

Secretary – Required (can also be a legal person, resident in Hong Kong)

Registered office – Required

Company name

• ▪Language: Any
• ▪Letters: From Roman alphabet or in Chinese
• ▪Company name must end with such suffix or it’s abbreviation: Limited
• ▪Restricted Names: Any name would constitute a criminal offence or is offensive or otherwise contrary to the public interest. Any name would be likely to give the impression that the company is connected in any way with the Central People’s Government or the Government of the HKSAR or any department of either government such as Department, Government, Commission, Bureau, Federation, Council, Authority
• ▪Names Requiring Consent or a Licence: Asset management, Assurance, Authority, Bank, Building Society, Bureau Federation, Chamber of Commerce, Chartered, Commission, Co-operative, Council, Department, Fund Management, Government, Insurance, Investment Fund, Kaifong, Mass Transit, Municipal, Re-Insurance, Royal, Savings, Tourist Association, Trust, Trustee, Underground Railway

N.B.

• ▪Restricted connections for company name: name of state, national or local government.
• ▪Any name that implies illegal activity or implies royal or government patronage is restricted.
• ▪Registrar may reject any name which it considers undesirable or contrary to the public interest.
• ▪Company name is restricted to be identical or similar that of an existing company.
• ▪In case when foreign language is used for company name the translation may be asked by Registrar to ensure conformity to above listed restrictions.

In order to obtain a license, the following steps will be carried out:

• ▪Gathering of relevant KYC documents for initial verification
• ▪Incorporation of a HK company
• ▪Preparation of relevant documents (business plans, manuals and procedures, etc.)
• ▪Arranging a local office, local employees
• ▪Application for appointing 2 Responsible Officers
• ▪Application for the license
• ▪The SFC grants pre-approval
• ▪The paid-up capital shall be deposited in full within stated amount of time from the pre-approval (if not already done earlier)

In order to obtain license, Offshorelicense will fill all necessary application forms and also acquire apostilled corporate documents. 

For that reason, please provide us with the following documents.

For local regulatory authority:

(Each beneficial owner, shareholder, director, Responsible Officer and secretary must provide)

• ▪CV
• ▪A notarized copy of valid passport
• ▪Notarized 2nd ID
• ▪A copy of proof of residential address (ex. utility bill that is not older than 3 months) in English or translated into English
• ▪Bank Reference Letter
• ▪Bank Statement Leller
• ▪A notarized copy of a University Diploma
• ▪Signed and notarized application forms
• ▪Two Professional letters from a notary, lawyer, auditor or similar

N.B.

• ▪If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.
• ▪Please ensure that notarization is in English language if not then please provide with notarized English translation.
• ▪Additional documents may be requested by the regulatory authority or local Bank at any point to certify specific information.