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何德生會計師事務所 香港執業會計師 |
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HO TAK SANG & CO., Certified
Public Accountants, Hong Kong |
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Useful Information |
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Useful Information
w The first step in setting up a business in Hong Kong w Establishing a limited company in Hong Kong w Alternatives to limited companies w An overview of the Hong Kong Tax System The first step in setting up a business in Hong Kong A person of any nationality,
of the age of 18 or above, can set up a business in Hong Kong. The first step in setting up a business in Hong Kong entails the choice and the registration of the suitable form of business entity, including a limited company, a proprietorship or a partnership. In addition, a corporation registered outside of Hong Kong may conduct business in Hong Kong by setting up a branch in accordance with the relevant regulations. We make recommendations for
the most suitable form of business entity, and take care of the registration
process. Establishing a limited company in Hong Kong A limited company has to be registered
in accordance with the Companies Ordinance and Business Registration
Ordinance. The followings are information required
for the setting up of a private limited company in Hong Kong:- 1.
Name
of the Company (in either English or Chinese or in both) to be incorporated,
which must NOT be the same with an existing company incorporated in Hong
Kong. 2.
Structure
of Share capital w
Authorized
Capital – Number of shares and nominal amount of each share (normally 10,000 shares of HK$1 each
are registered); and w
Allocation
of shares among shareholder(s) 3.
Name,
Address/Registered office of the followings are required: a.
1
or more shareholders b.
1
or more directors c.
1
or more company secretaries 4.
The
intended Registered address in Hong Kong of the company to be incorporated. 5.
The
intended main business activity. A
shareholder or a director can either be a natural person over 18 years of age
and of any nationality or an incorporated body A
company secretary must be a Hong Kong resident over 18 years old or a body
corporate having its registered office or place of business in Hong
Kong. A
shareholder can serve as a director. A
shareholder or director can serve as the company secretary. However, in case
the company has only 1director, the sole director cannot serve as the company
secretary. Fees
and charges related to the setting up and maintaining a private limited
company in Hong Kong are as follows:- 1.
Incorporation
fee of HK$8,000, including all related registration fees and charges; (Additional
capital fee will be required at HK$1 per HK$1,000 if authorized capital
exceeds $10,000) 2.
Annual
Business Registration Fee of HK$2,450 3.
We
can act as Company secretary at the annual retainer fee of HK$3,500 4.
We
can provide a registered office at an annual fee of HK$3,500 5.
Annual
Statutory Audit Fee – charged on a time basis from HK$300 per hour 6.
Accounting
Work – charged on a time basis of HK$300 per hour It
takes about 10 days to complete the incorporation and registration
procedures. Alternatively, clients can choose a ready-made company from our
list. It will then take 3 days to
complete the necessary setting up procedures. The firm can
make special arrangements to enable non Hong Kong residents setting up a
limited company in Hong Kong without the need of coming to Hong Kong. Alternatives to limited companies A person of
any nationality, of the age 18 or above can establish a business in Hong Kong
in the form of a sole proprietorship or partnership. Such a business entity
is registered in accordance with the Business Registration Ordinance. A non Hong
Kong resident has to appoint a Hong Kong resident as his/her agent in Hong
Kong for the purpose of the Business Registration Ordinance. The partners
of the firm are pleased to serve as the agent in this connection. An overview of the Hong Kong Tax System The Hong
Kong tax year runs from 1st day of April of each year to the 31st
day of the following March. A company
doing business in Hong Kong would normally encounter the following different
kinds of tax: 1.
Profits
Tax – profits derived from Hong Kong are subject to Profits Tax 2.
Salaries
Tax – employment income derived from Hong Kong are subject to Salaries Tax 3.
Property
Tax – Rental income derived from landed properties in Hong Kong are subject
to Property Tax In addition,
stamp duties are payable on acquisition of landed properties and purchase and
sale of Hong Kong shares/stocks The firm
advises its clients on ways of maximizing tax efficiency. Current tax rates
Minimizing tax burden The firm
advises clients on ways of minimizing profits tax, salaries tax, property tax
as well as stamp duty payable on share/stock transfer. |
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Last updated
on 1 January 2008
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