Hong Kong: A Very Reliable Jurisdiction
It is possible to incorporate a limited company in Hong Kong in just one week with a share capital of only US$1. Only one director and one shareholder are required; they need not be residents of the city of Hong Kong.
March 3, 2014 (Newswire.com) - Healy Consultants is experienced in incorporating a company without having the Client travel to complete formalities. A Hong Kong company formation is legally tax exempt provided the company has no customers or suppliers within the city. Hong Kong resident companies pay corporate taxes at 16.5%, lowest in Asia. Profits are free of any withholding taxes, sales tax, VAT, import and export taxes and capital gains tax. Hong Kong's 34 international double tax treaties with other countries help minimize withholding tax on payments abroad.
Hong Kong company formation portrays a positive image to global customers, suppliers, investors, venture capitalists, governments, and banks because of its smooth bureaucracy, minimal corruption, restrictions and red tape. There are not too many bureaucratic procedures like licensing and government registrations required for entrepreneurs. Strict legal framework along with effective bureaucracy makes it easier for foreign investors to depend on the local laws to protect their assets. There are no exchange controls to restrict FDIs, currency accounts or repatriation of capital and earnings. Adding to its clean reputation, Hong Kong has also established itself as a financial center in Asia with the presence of a number of banks and financial institutions. This makes it easier for Hong Kong companies to obtain corporate banking accounts and bank credit very easy. The city in itself is entirely a free economic zone, hence, a resident LLC is widely used as a regional distribution base or headquarters by foreign investors. Official business language in Hong Kong is English, making communication easy for foreign entrepreneurs.
Apart from liberal economic policies, Hong Kong also boasts a very strategic location and hence is ranked the 2nd best place in the world to start a new business.
Mr. Aidan Healy