Hong Kong Company:

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 Hong Kong to set up varied companies for varied purposes, since Hong Kong 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 Hong Kong as a gateway 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 COMPANIES’ NAMES
In Hong Kong 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.  
FREEST BUSINESS SCOPE
One of the most exciting events covered in the formation of a Hong Kong company is free business scope. Business scope is not really defined by the government for the businesses you conduct 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 Hong Kong.

REGISTERED/ PAID-UP CAPITAL AND SHARES
For a Hong Kong limited company, the minimum registered capital is HKD10,000 (about USD1,200),  The government levies 0.1% tax on registered capital.  The board of a company has a final say about paid-up capital. You don’t have to pay up your capital share at the time the company is formatted.
MEMORANDUM & ARTICLES OF ASSOCIATION
The memorandum and articles are the primary legal document of a company. Memorandum contains the name of the company, authorized share capital, initial members and object clause (if any). Articles are a set of internal regulations that governs the day to day operations of the company. Both memorandum and articles have to be filed to Companies Registry at the time of incorporation or if there are any changes thereafter. At least two subscribers are required in the memorandum and each of the subscribers must subscribe to at least one share in the company.
GENERAL TAX INFORMATION
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 freely if you pay the tax. Income taxes (salaries tax, profits tax and property tax) are charged on income which has a Hong Kong source (territorial source concept). Estate duty is charged on the principal value of property located in Hong Kong passing on the death of the deceased. Stamp duty is charged on instruments which relate to Hong Kong assets. There is no capital gains tax and dividend income tax. The corporation profits tax rate of 16.5% are relatively low compared with other developed countries. In Hong Kong, any companies are required to report annually to the Inland Department. 

EMPLOYMENT
The labor in Hong Kong is not cheap, but in order to lower your operating cost, we provide commercial secretarial service at a tailor-made basis.
TERM AND TERMINATION
In Hong Kong, we can keep a company as long as we pay government fees annually. A Hong Kong company may be terminated if the board of the company summits an application. We also provide liquidation or striking off services. 

REQUIREMENTS FOR HONGKONG COMPANY FORMATION
If we want to incorporate a limited company in Hong Kong, we are required to offer:
※ Passport copies of one or more shareholders at age of 18 or above;
※ Registered capital:  HKD10,000 Paid-up capital not required.
※ A registered address, which is usually provided by B&L.
※ A company secretary who is usually acted by B&L, we can deal with the government documents on behalf of you.

OUR SERVICE 
※ Certificate of incorporation;
※ Business registration certificate;
※ 18 copies of memorandum and articles of association of the company;
※ Share certificates;
※ Statutory book,
※ Company seal and company chops;
※ Professional service    

 
BANK FACILITIES
Most major international banks have a presence in Hong Kong.  If we like, we can open any accounts with any banks on a private or corporate basis. A saving account, a current account, a foreign currency account, and even L/C account are accepted by any banks. ATM machines are widely accessible and link to major networks such as Plus, Cirrus, JNL and others. Hong Kong dollars are used in Hong Kong. The HK dollar has been linked to the US dollar at a fixed rate of HK$7.8 to US$1. Currency exchange is available in several places at the airport and in many locations in the city. Major credit cards such as MasterCard, Visa, American Express, AEON, etc. are widely accepted in Hong Kong. Diner’s Club is also accepted though less widely. The Discover card is not accepted. 
ANNUAL RETURNS AND TAX RETURNS
Any limited companies in Hong Kong should summit annual return to the department of the Company Registry and the Inland Revenue Dept.

ANNUAL GENERAL MEETING
An annual general meeting (AGM) must be held once in every calendar year and not more than 15 months after the last preceding AGM. However, a company need not hold its first AGM until 18 months of its incorporation. A company can dispense with the holding of AGM if everything that is required or intended to be done at the meeting is done by resolutions.

BASIC COMPANY SECRETARIAL SERVICES
We provide certified true copy of corporate documents by a certified public accountant for opening bank account. We prepare Annual General Meeting documentation, elective, special, extraordinary and ordinary resolutions, annual returns, stock transfer forms, board meeting minutes, share certificates and any other documentation normally required in the field of company law. 

ARRANGEMENT OF NOTARIZATION OF DOCUMENTS
We help you to easily and quickly arrange for notarization of documents by notary public and/or authentication various Embassies
BOOKKEEPING AND AUDITING
Every company is required to appoint an auditor each year. An auditor must be qualified by virtue of the Hong Kong Professional Accountants Ordinance and completely independent of the company.