Form a Hong Kong Company
1. Register a new company: Customers can decide the company name by themselves, and the processing time is longer (about 7-10 working days);
2. Purchase ready-made company: Select from the list of unused shell companies, the processing time is short (about 1-2 working days).
Registration Procedure
1. We will email the required forms to the customer, after the customer fills in the forms, together with the ID card or passport of the company's shareholders/directors/company secretary and email a copy of the proof of address to our company (admin@billypang.com).
2. We will send a dedicated person to contact the customer to verify whether the required information is complete.
3. We will check whether the proposed company name is available and email the invoice to the customer.
4. Customer payments can be made by cash, cheque or transfer to our bank account.
5. We will prepare the required documents within 1 working day.
6. Customers can come to our company to sign the relevant documents in person, or choose to have the documents sent to the designated address. After signing, the customer will pay the remaining balance to us in cash or check.
7. We submit the documents and fees to the Companies Registry. The Companies Registry takes about 5-7 working days to approve and issue the company's certificate of incorporation.
8. Customers can apply for opening an account at the bank with the board minutes and certified copies of registration documents provided by us.
Requirements for Formation
1. At least 1 shareholder and director. Every private company should at least have one "Natural Person" director
2. One person can serve as both shareholder and director (plus company secretary, at least 2 candidates are required)
3. Directors and shareholders have no restrictions on nationality or residence
4. "Limited companies" are acceptable as shareholders and directors:
- Certificate of incorporation of the body corporate
- Articles of Association of the body corporate (A&A)
- Board resolution - Approval of acquiring shares of Hong Kong company and/or serving as director
5. The minimum amount for issuing shares is HK$1
6. The registered office must be in Hong Kong
7. A company secretary (the company secretary must be a Hong Kong limited company or resident)
8. The company name cannot be the same or too similar to the existing company. It can be:
- Use only English name or only Chinese name or
- Both Chinese and English names (in daily use, you can only use one of them)
9. Directors and shareholders must be over 18 years old
Advantages of Hong Kong Companies
Generally speaking, companies in Hong Kong have the following advantages:
1. Consistently implement a low tax rate policy (16.5% of net profit (if it is a Hong Kong tax-preferential enterprise, the tax rate on the first 2 million profits is halved to 8.25%))
2. Offshore income is exempt from Hong Kong tax
3. A structure that allows for the appointment of nominee shareholders and directors. The identity of a company’s beneficial owners can be hidden from public information
4. Have a very stable social and political environment
5. Have a very active and free financial market and system
6. Have very close and good relations with the mainland
7. Enjoy convenient international-level banking services