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Advantages of Hong Kong companies

Hong Kong is an international metropolis with abundant information, as well as a free trading port. With good infrastructure and complete legal system of its own, it provides an advantageous commercial environment to all enterprisers and traders. As a result of this, investors prefer to register Hong Kong Company as their offshore company and run offshore business. In addition to the above benefits, there are some highlights you may not know:

1. General introduction. Hong Kong has become the worlds eighth largest trading economy calculated in terms of total value of trade undertaken. Meanwhile, Hong Kong is the seventh biggest importer of goods and the ninth biggest exporter. This is an astonishing achievement for a territory with a population of only 6 million. With good infrastructure facilities and complete legal system of its own, it provides an advantageous commercial environment to all enterprisers and traders.

2. Free use of company names. In other countries, some such words as Holdings, Group, International, cannot be shown in the company's name. However, the situation totally changed. As long as you don't mix traditional Chinese and English together, you can fully use your imagination to create a name that has not been registered in Hong Kong.

3. No actual capital investment required. Even though the minimum of registered capital for a Hong Kong company is 10,000 HKD, you don't have to identify that you have got the said cash deposit in your bank account, which provides a spectacular terrace for beginners. And the tax for registration is only 1/1000 of the registered capital.

4. Simple documents needed. The shareholder or director of Hong Kong Company can be anyone holding a legal ID card. With us Dada Company being your legal secretary and offering a registered office address, no documents else will be needed.

5. Easy access to bank account. With BRC(business registration certificate and CI(certificate of incorporation), we can open an international bank account in Hong Kong's main banks like HSBC and Standard Chartered Bank in half an hour, even without your presence.

6. No restriction towards the flows of capitals. Once getting the bank account, you are free to use ten of the world's most frequently used currencies such as USD, GBP and RMB between Hong Kong and other countries without any controls or restrictions, be it coming into or out of your bank account.

7. Nil taxation upon offshore profits. In Hong Kong, the tax is only subject to Hong Kong sourced income, which means that if you are engaged in business both within Hong Kong territory and outside Hong Kong, you only need to pay tax for profits gained within Hong Kong territory.

8. Low tax rate. The tax rate is comparatively lower than that is in mainland, China. In China mainland, once you are involved in business activities, you are obligated to pay VAT, business tax and cooperative income tax and so on, whether you are making profits or not. Comparing to that, a tax rate of 16.5% of cooperative income tax for limited companies and 15% for the unlimited is required.

9. A convenient gateway to China mainland. In recent years, China has been spending more efforts in the promotion of attracting more overseas investors and reducing administrative barriers for trade. With Closer Economic Partnership Arrangement (CEPA) since June 2003, it grants easier access for Hong Kong-made products and Hong Kong-based companies to mainland's various markets.

Generally speaking, foreign investment plays a key role in the Hong Kong's economy. Various sources of foreign investment like China, Japan, United States, Europe Union or United Kingdom etc., have substantial amounts of investment and there is no industries closed to foreign investment in Hong Kong. On account of all these, Hong Kong has attracted more and more multinational corporations to set up regional headquarters and offices in Hong Kong. How about you?

by: dada-henry

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