Hong Kong is a leading international business centre. The city has a perfect corporate formation system, making it easier for business people to incorporate in Hong Kong. The Hong Kong financial system makes the whole incorporation process an easy affair. The regulations and rules of the tax laws are strictly followed by businesses when they set up their registered office in Hong Kong or apply for tax clearance with the government.
It is not difficult to set up an offshore company in Hong Kong. A company director can quickly become a self-employed individual with his private wealth fund. Companies that establish Hong Kong company incorporation service usually incorporate themselves as a private limited company, so they cannot be subjected to the law’s restrictions on public share ownership in China. Therefore, a company director can buy and sell shares as he wishes in China, even before they are listed in major countries’ stock markets.
The benefits of doing company incorporation in Hong Kong are many. However, before a business person can do this, he should have all the correct documents to avoid violating the law. He should also be aware of the basic requirements of starting up an offshore company in Hong Kong, including its incorporation in the Companies Registry of Hong Kong.
Many business owners are worried that they will be unable to deal with the paperwork and have difficulty getting the incorporation done. This fear is unfounded. Most of the companies offering the best services in terms of ease of application and registration of offshore companies in Hong Kong are very well equipped with experienced lawyers and personnel. Moreover, the fees charged by these companies are very reasonable, especially when compared to the costs of local attorneys.
One more benefit offered by many of these companies is that they help the business owners to set up a limited liability company. A limited liability company makes it possible for the business owners to avoid paying income tax to the government on the profits they make from their business ventures overseas. Moreover, this business entity allows the business owners to retain control over their company, even if they move to a different country. There are several reasons why the number of people setting up a limited liability company in Hong Kong is rising.
Limited liability company formation in Hong Kong offers some other benefits as well. For instance, the company formation allows a person to get instant legal status in the eyes of the law, with effect from the day the company registration form is filled out. Moreover, a company formation in Hong Kong provides an easy and straightforward way of ensuring that the person gets his right tax status. Finally, incorporating a company in Hong Kong will ensure that there is no need to pay capital gains tax or income tax on the company’s profit.
Of course, the benefits listed above are not the only ones provided by an offshore company formation service. Besides, the companies offer other related services, such as advice on setting up a business, advice on choosing a location for your business, advice on obtaining a business license, advice on international trade, and so on. Some of these services are not available in the country in which you reside. These include professional services such as a bank’s advice on setting up a foreign banking account, opening an offshore bank account, and so on.
To get the most benefits from the services of an offshore company incorporation service in Hong Kong, you should find one that has several years of experience in the industry. Also, look for one that is fully committed to your needs. Most importantly, check out whether they have any guarantees or warranties. Many firms offer free consultations to have your questions answered before deciding on the company to undertake the entire incorporation process. Remember that the incorporation process may take some time, so be patient.