Hong Kong is an international metropolis with abundant information and opportunities. With an area of 1,100 square kilometers and a population of over 8 million, Hong Kong is the freest trading port in the world. Together with sound infrastructure and complete legal system of its own, it provides an advantaged financial & commercial environment to many entrepreneurs and traders. Therefore, more and more people established their own companies in Hong Kong with different purposes, which improve not only the image of the company itself, but also the competitive ability in the international market. The followings are the basic facts for your business success in Hong Kong:
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1. Corporate Shareholders, Directors and Legal Secretary
At least one shareholder, one director and one secretary is needed for a Hong Kong limited company. A natural person aged above 18 years old is eligible for a shareholder and director or both. Shareholder could also be acted by a legal person, as far as corporate structure is concerned. In Hong Kong a statutory secretary should be acted by a Hong Kong natural or legal person for and on behalf of the company to ensure compliance with ongoing legal returns, accounts, audit and other requirements. Details of the company's directors, shareholders and secretary must be filed at the Companies Registry for public search.
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2. Company Name
In Hong Kong, a trade name is much easier to define as long as you do not infringe the trademark of other companies. The name of a limited company should be ended with “limited”. You can have an English company name or a Chinese company name or both. If you like, you can add a country name or city’s name in front of or inside the company name, such as: France, USA, Italy, Japan, London, Beijing, Shenzhen, Shanghai and so on.
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3. Business Scope
In principle, there are not great restrictions on the business scope of Hong Kong companies. But you are advised to define your business activities before you set up a Hong Kong company; it is your choice whether to show the business activities on the business registration license or not.
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4. Registered Capital and paid-up capital
The registered capital for a Hong Kong limited company could be as low as HKD 10,000.00 while the paid-up capital could be as low as HKD1.00, The investors can decide on the size of the registered capital while the capital duty should be levied at the rate of 0.1% by the government based on the size of the registered capital. If you want to use this company to invest in China, you’d better raise your registered capital as high as RMB one million so as to reach the criteria required by the Chinese government.
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5. Processing Steps
Fill out an application firm→ Payment→ Sign statutory documents personally→ Forward the documents to the Hong Kong relevant government departments immediately→ Finish within 10-15 working days→ Collect the documents at the designated office within three months.
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6. Documents Required for Business Setup
If you want to have a company registered in Hong Kong, you are simply required to fill out an application form, together with copies of the valid passport and sign the whole set of statutory documents personally. Tannet will cater to your registered address and legal secretary if necessary.
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7. Tannet’s Services, Government Fee and Service Fee for Business Setup
Tannet services include one business registration license, one certificate of incorporation, four chops, one copy of share certificate, 16 copies of M & A, one copy of statutory book for director’s record, one official receipt, one green paper box.
Government Fee and Service Fee: For more information, please contact Tannet Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143181
Term of Payment:For the foundation and other financial organization, the fee depends on the detailed information. Before registration pay 50% of the total fee as deposit and pay the spare money when finished. You can choose cash, T/T, check and transfer the account to our appointed mainland, HK and oversea bank account.
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8. Bank Account Opening and Service Fee
Tannet is often honored as valuable business partners by many local or international banks in Hong Kong. Tannet’s assistance in the bank account opening and follow up will make you easily establish business relationship and smooth paper processing with banks. Tannet’s service in bank account opening includes recommending bank, making appointment, offering certified true copy by our CPA, working as a referee and guide for the whole processing, providing contact address and doing documents follow-up. For the bank account opening you might need business plan and address proves (electricity and phone bills in the latest three month) for bank reference. For more information, Click here.
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9. Legal Secretary, Commercial Secretary
Although a legal secretary is a must for a Hong Kong limited company required by the local government, a commercial secretary would be an alternative offered by Tannet. The commercial services include information and data processing, taking order, trade documents processing, telephone answering and transfer, travel arrangements, meeting arrangement, mailing service, policy study and market analysis, telephone survey. A secretarial service could be done virtually through e-mail, fax, telephone and the Internet to small, medium-sized, and home based businesses.
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10. Annual Return and Service Fee
Each year the company must submit an annual return to the Hong Kong Companies Registry and the Hong Kong Inland Revenue. You can let it be done by Tannet by simply signing back the confirmation letter. Tannet will give you one month notice before it gets overdue.If failed in doing so, penalties will be implemented accumulatively, you can’t expect that the company will be suspended and cancelled eventually as China does, the maximum fine could be as high as HKD700 per day per owner.
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11. Accounting Services: Booking, Auditing, Tax Layout and Tax Return
If a company has business running on within Hong Kong, account book should be well kept monthly for an annual audit before you carry on a tax return to the Inland Revenue. Tannet can arrange bookkeeping and auditing for you in time of need. Every company is required to finish tax return annually. Submission of “nil” profit tax return without auditor’s report and financial statement would be accepted for the companies without business operation. Tannet can not only make your accounts well kept, but also makes financial analysis to the previous years and budge report to your future development.
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12. Taxation in Hong Kong
Hong Kong has created an image of low tax and few tax environments. The distinctive taxes for enterprises are Income taxes (salaries tax, profits tax); profit tax is levied at rate of 15% for unlimited and 16.5% for limited companies respectively. Salaries tax ranges from 2% to 17% on net income (before deduction of the allowances). There are several features of the Hong Kong tax system. For most commodities, there are no import tax and export tax.
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13. Other services in Hong Kong
Tannet provides the SMEs with assistance services such as corporate legalization or notarization, bank reference letter, investment immigration, website design, trademark registration, ISSN and ISBN application, entry visa or work permit.
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14.Why Choose Hong Kong?
Hong Kong is an international metro with abundant information and the free trading port in the world. Together with sound infrastructure and complete legal system of its own, it provides an advantaged commercial environment to many enterprisers and traders. Benefit from its region advantage, HK is the gateway to China market, the largest market in the world. Besides, trangle trading is also well-runned in HK. Because of ‘one country two systems’ policy and other preferential policies, HK is more and more investors choice to establish their company to improve their international image and competitive ability.
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15. Why Choose Tannet?
1. Tannet is a professional business service outsourcing company, serving the world of business professionally and reliably since 1999.
2 Tannet is based in grand China, with an international focus, targeting at valued investment and strategic developments.
3 Tannet has built up nine service centers forming a massive international service platform, especially for SMEs. You are welcome to visit www.tannet-group.net for more.
4 In ten years’ growth, Tannet developed rapidly to more than 38 holding subsidiaries, 88 equity participants, over 3,000 cooperators, and in excess of 20,000 reliant clients globally. You can exchange resources among the Tannet’s clients.
5 Tannet is staffed by a professional team of industrial advisers, lawyers, accountants, engineers and consultants, with a wealth of experience, both in their respective professions with global expertise.
6. Through a ten year reputation, Tannet can provide its valued clients with the best 24/7 quality services, especially tailor-made to the customer’s needs.
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16. Contact Us
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143181. or emailing to
mailtannet@21cn.com. You are also welcome to talk with Overseas SME Service Department online by simply joining our MSN:service@tannet.net.
Tannet--A Sound Global Business Solution Partner, Serving the World of Business, Professionally & Reliably.
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