Hong Kong Offshore Companies

from Maritime International Ltd.

Incorporation of Hong Kong offshore companies, corporate banking and related offshore company management services.
Hong Kong offshore companies
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HONG KONG OFFSHORE COMPANIES

Hong Kong is, of course, well known as a major international center. It is located on the South East Coast of China and became part of China on 1 July, 1997. It is a Special Administration Region (SAR) within the People's Republic of China with its own legislature and courts. English and Chinese are the official languages and incorporation documents may be in either language or both.


NEW LEGISLATIVE CHANGES - 2014

As of September, 2014, at least one Director of Hong Kong companies must be a person. Other Directors may be a person or a corporate.


OVERVIEW OF KEY FEATURES

There is no "offshore" legislation in Hong Kong. All companies are incorporated under the same legislation, whether they are doing business locally or "offshore". (HK Company Ordinance, 1997 version, as amended 2004). What makes Hong Kong companies similar to offshore companies, such as those incorporated in the British Virgin Islands (BVI) is the tax free status of such companies, under certain circumstances. If a Hong Kong company does NO business in Hong Kong and derives no income from Hong Kong sources, then it is not taxable in Hong Kong. So as long as a Hong Kong company does business anywhere else in the world, it is in effect, an offshore company, similar to BVI IBC's.

A Hong Kong company can even set up and staff a Hong Kong office as a COST CENTER and pay no taxes. For example, a company outside of Hong Kong could set up a Finance Management Center for its company or group, and pay no tax, so long as it receives no income, only expenses. Similarly one could set up a tax free document processing company in Hong Kong as a Cost Center.

If a company does no business in Hong Kong, there is generally no requirement to file financial statements and no audit is required. It is only necessary to file a Declaration of "No business activity in HK." Click here for a definition of what constitutes doing business in Hong Kong.

Hong Kong companies are advantageous because they are not perceived as "tax havens"; the legal system is based on British common law; the political environment is stable; finance and banking is excellent, and there are no exchange controls. A Hong Kong company may do business anywhere in the world and there is no requirement for the Directors and Shareholders to be resident in Hong Kong.

Directors and Shareholders are in both the Government and Public record, but privacy can be maintained through nominees provided by Maritime International Ltd. Only the nominees appear in the Government and Public records. There is no requirement to report the Beneficial Owner to the Government, if nominees are used. A further difference between Hong Kong and most other offshore jurisdictions is that the company must have a Secretary resident in Hong Kong. This is provided by Maritime International Ltd's Hong Kong company, at no extra cost.

QUICK REVIEW OF HONG KONG OFFSHORE COMPANIES

GENERAL  
Location of Jurisdiction Hong Kong - South East Asia
Official Language English & Chinese - Read More
Political Stability Excellent
EU Savings Tax Directive Applies No
Corporate Taxes None, if no income is derived from Hong Kong sources. Read More - IMPORTANT!
Tax Information Exchange Agreements Read More
Disclosure of Beneficial Owner Yes, but Nominees may be used. Read More
Requirement to File Accounts with Government Not required if the company does no business in Hong Kong. Read More
Time to Incorporate 7 Business Days, after receipt of HK registration documents in Hong Kong. Read More

CORPORATE  
Type of Offshore Company Private Limited Company
Type of Law English Common Law plus local Ordinances.
Allowed Business Activities Read Details
Registered Office/Agent Required by Law - Read More
Change of Domicile Not Allowed
Shelf Companies Available Yes - See Listings
Language of Documents English or Chinese or both.
Name of Company Can be in English or Chinese or both.
Corporate Seal A metal corporate seal is mandatory (included in our fees).

DIRECTORS  
Eligibility Any person and corporate of any nationality.
Minimum Number of Directors One Director must be a person. Other Directors may be persons or corporates.
Disclosure to Authorities & Public Yes, but Nominees can be used. Read More
Residence Required May Reside Anywhere
Local Director Required No
Nominee Director Available (Recommended - Advantages) Yes. Provided by Maritime International Ltd. - Read More
Location of Meetings Anywhere

COMPANY SECRETARY  
Secretary Required Yes
Local Secretary Required Yes, must be HK resident or HK company.
Local Secretary Available Yes. Provided by Maritime International Ltd. - Read More

SHAREHOLDERS  
Minimum Number of Shareholders One
Maximum Number of Shareholders Fifty
Eligibility Any person or company of any nationality.
Disclosure to Authorities & Public Yes, but Nominees can be used. Read More
Nominee Shareholders Available Yes. Provided by Maritime International Ltd. - Read More
Annual General Meetings Required - Read More
Location of Meetings Anywhere

SHARES  
Minimum Number of Shares One
Maximum Number of Shares Unlimited
Bearer Shares Permitted No
Classes of Shares Permitted Ordinary shares, preference shares, redeemable share and shares with or without voting rights. (No par value shares are not permitted).

SHARE CAPITAL  
Permitted Currencies Any
Minimum Paid Up Share Capital HK $1.00
Maximum Share Capital Unlimited, but government charge of HK $1.00 for every HK $1000 in share capital over HK $10,000.
Recommended Share Capital HK $10,000 or US$1,000 (other currencies are allowed) - Read More
Requirement to be Paid Up No

ACCOUNTS  
Keep Accounts/Company Books Yes
File Audited Annual Return with Government Not required if the company does no business in Hong Kong. Read More
Bank Account Location Anywhere - Read More
Brokerage Account Read More
Exchange Controls None

HONG KONG OFFSHORE COMPANY FEES

OFFSHORE COMPANY MANAGEMENT SERVICES AVAILABLE

Nominee Directors & Shareholders, Corporate Identity Package, Mailing Address, Basic Account Maintenance, Invoicing Services, Employee Contracts, Document Safekeeping and general Corporate services. More details are available on our Management Services page.

PRIVACY

The names of the Directors and Shareholders are required to be filed with the Government and they are also available in the public record.

Privacy can be provided through the use of a nominee Director and Shareholder. Only the nominee names are filed with the Government and appear in the public record. The Beneficial Owner of the company and the Power of Attorney issued to him/her to run the company, are not required to be filed with the Government or placed in the public record.

NAME RESTRICTIONS

The following names require licensing to be used: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset management, Fund Management, Investment Fund, Building Society, Municipal, Chartered, Chamber of Commerce, Tourist Association, Kaifong, Mass Transit, Underground Railway. Names denoting any connection to local, state or national Governments are generally prohibited.

SUFFIXES TO DENOTE LIMITED LIABLITY

The following can be used: Limited or Ltd only. Note: The word "Company" can be used as part of the company name if desired.

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