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A Brief Introduction of Coporate Formation and Management in Hongkong
If you live and work overseas, but want to invest or set up a company in Hong Kong, you can simply rely on TANNET in doing so. TANNET can take care of everything for you in corporate formation, management and planning, since TANNET is familiar with formation formalities and is able to give you a tangible solution！do your business on TANNET' s international back-up system. TANNET！serving the world of business, professionally and worldwide.
OVERVIEW ABOUT HONGKONG
Hong Kong is situated at the south-eastern tip of the mainland of China. A total area of just under 1,100 square kilometers covers Hong Kong Island, Kowloon and the New Territories and Islands. Its population is around 8 million. Varied people come to HONGKONG to set up varied companies for varied purposes, since HONGKONG companies have their own varied advantages.
ADVANTAGES OF HONGKONG COMPANIES
Hong Kong is an ideal place to invest - a free and liberal investment regime, absence of trade barriers; Hong Kong is fully committed to the protection of human rights non-discrimination against overseas investors; Complete freedom of capital movement; Most people honor HONGKONG as a gangway to mainland China for foreign investors and a springboard to the outside world for mainland China's investors; a deep water harbor; an international corporate base; a small but efficient government ; a perfect legal system; a free trade & free market; a corruption-free & stable society; low & predictable taxes; a sound & free banking system, an independent judiciary; a comprehensive system of legal aid; and a free and active press; and an independent Ombudsman.
FLEXIBLE COMPANY'S NAME
In HONGKONG we are free to make a choice of companies' names, if not registered before. But you are advised to choose the name of your company carefully. It is very important that you portray the image you want for your new company. You are also required to avoid using any company name which may be too similar to any existing company or trademark. A company name can be in English, in Chinese, or both. In cases where the liability of members is limited, whether limited by shares or guarantee, the name must end with "Limited". A proposed company name cannot be the same as any of the existing name registered at the Companies Registry.
BUSINESS SCOPE
One of the most exciting events covered in the formation of a HONGKONG company is the free business scope. Business scope is not really defined by the government for the businesses you carry on in Hong Kong. If we finish business registration, we can involve in any sectors we want. Generally speaking, business scope is not really limited in HONGKONG.
REGISTERED AND PAID-UP CAPITAL
For a HONGKONG limited company, the minimum registered capital is HKD10,000(about USD1,200). The government will levy 0.1% tax if the registered capital surpass HKD10,000. The board of a company has a final say about paid-up capital. You don't have to pay up your capital at the time the company is formatted.
REQUIREMENTS
If we want to incorporate a limited company in HONGKONG, we are required to offer:
(1).Passports of one or more shareholders at age of 18 or above;
(2). Registered capital: HKD10,000. Paid-up capital is not required.
(3). A registered address, which is usually provided by TANNET.
(4).A legal secretary, which is usually acted by TANNET, who will deal with the government documents on behalf of you.
SERVICE AND PRICE
At ATA, we are able to prepare all the application forms and relevant documents and take care of all the procedures for you, and you get the following services at a fixed price of HKD7800.
(1). Certificate of incorporation;
(2).Business license;
(3).16 copies of memorandum and articles of association of the company;
(4). Share book;
(5).Statutory book;
(6).Four pieces of chops;
(7).A book of receipt;
ANNUAL RETURN
Any limited companies in HONGKONG should carry on annual return to the Company Registry and the Inland Revenue Department. This return is mandatory and different from the tax return processing. The annual cost for doing so is about HKD4800 including TANNET's annual service's fee.
BOOKKEEPING , AUDITING& TAX REPORT
Every company is required to record the company's accounts accurately and keep the books more than 7 years, to appoint a Certified Public Accountant to audit the account books before an audit report is prepared and filed with the HONGKONG Inland Revenue Department, who must be qualified by virtue of the Hong Kong Professional Accountants Ordinance and completely independent of the company.
TAXATION
There are several distinctive features of the Hong Kong tax system. The tax for registered capital is 0.1% . You can increase the volume of the capital as freely as required. There is no capital gains tax and dividend income tax. The standard corporate profit tax rate of 17.5%, while the unlimited company's profit tax rate is only 16%, it is relatively low compared with the other developed countries. In HONGKONG, any enterprises are required to have a financial report annually to the Inland Revenue Department. More details about the tax information are available upon request of our valued customers.
HOW TO BEGIN
You can begin your application by simply downloading and filling in the application form, and send it to us by fax at 852-29472720or 86-755-82143182 or by email at atahk@21cn.net. When we receive your request, we'll send you a confirmation letter for your final decision. At this time you may pay 50% deposit, so as that we can go ahead with the processing of your application.
Tannet！！Global Corporate Solution Provider,Value Investment & Strategic Development.
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