What special advantages Offshore Hong Kong?

Location: land to the south-east of China, located 135 km from the provincial capital of Guangdong, Guangzhou and 2000 km south of the capital of China, Beijing. Washed by the South China Sea;

Area: Consists of Hong Kong Island and the adjacent islands, and most of the Kowloon Peninsula and nearby islands. Total area - 1068 km2 (land area - 990 km2);


Population: 6,898,000, 95% of which - the ethnic Chinese;

Currency: Rupee;

Official language: English and Chinese (Cantonese);

Government: Special Administrative Region of China with the right to autonomy. Here his own administration, law, an independent judiciary and the highest court. Outside of Hong Kong Government (Hong Kong) are questions of diplomatic relations and national defense. Hong Kong will retain its economic status for 50 years (30 June 1997), when, according to estimates, mainland China catch up with him on the level and quality of life.

Brief description of:

Hong Kong is the leading financial and commercial center of Southeast Asia and is the third largest financial center in the world after New York and London. There are more than 160 licensed banks, another 128 foreign banks have offices, working 225 licensed depository financial companies - all these financial institutions are playing an active role in the financing of international trade and commerce.

Type of company:

Private Limited Company (Private Company Limited by Shares).

Resident Company:

The resident.

Restricting business:

Never banking and insurance. Never attract deposits or sell its shares to the public.

Availability of shelf companies:

Yes.

Charter capital:

Requirements for authorized capital available, but usually the standard capital is HKD1, 000 (USD129) - HKD10, 000.

Stock:

The Company shall not issue bearer shares and all shares having a nominal value, may not be offered at public sale, and transfer of shares requires the approval of the general meeting.

Shareholders:

The minimum number - one, maximum number - 50 (physical and / or legal entities of any residence). The legislation allows the presence of nominee shareholders, directors and secretary of the company.

Annual Meeting of Shareholders:

Mandatory. Site requirements and method of assembly not, unless otherwise specified by the constituent documents.

Director:

The minimum number of directors - two natural or legal persons, resident status does not matter.

Secretary:

Required: a natural or legal person, resident in Hong Kong. At least 1. The Secretary may at the same time be a director.

Taxation:

Profits derived outside Hong Kong are not subject to tax, even if the profits were then transferred to Hong Kong. Internal Revenue Service has developed a very strict criteria for determining the place of origin of the taxable profit, which requires careful planning for operations. Rate of 16.5%.

Joined-tion Office / Agent:

Yes, must be approved in Hong Kong.

Disclosure of the beneficial owner:

Not required.

Financial statements:

Should grant financial statements and audited.

Annual Accounting:

Mandatory. Served only for tax administration, filing in the registry is not required. Is not public information.

Maintenance of registers:

Be sure to include inventories: shareholders, directors, secretaries, and minutes of meetings of directors, debt. Records shall be kept at the registered office of the company, or after notification to the Registrar - in any other place. At the registered office should also keep copies of all correspondence, accounting documents.

Access to information:

The information contained in the register of shareholders, directors, secretaries, open.

Double taxation avoidance agreement:

In Belgium, the UK, Germany, the Netherlands, Norway, Singapore, the U.S., Sri Lanka.

With Denmark signed but not yet in force.

Prohibited activities (unless a special license):

•      Banking;

•      Insurance;

•      Asset management;

•      Open sale of shares.

Variants of using Hong Kong Company:

•     For the ownership of bank accounts, fixed deposits, other financial and commercial tools;

•     To hold shares of other companies;

•     For possession of movable and immovable property (apartments, houses, buildings, etc.);

•     For international commercial transactions;

•     Loan and loan / credit / loans, payment and fees, royalties, etc.;

•     For commercial and financial activities.

Advantages of Hong Kong:

•      High reputation;

•      Political stability;

•      There is no tax on profits from abroad;

•      No currency restrictions;

•      Legal system is based on the legal system of the United Kingdom;

•      Jurisdiction is not in the current Ukrainian list of offshore zones.