Create a Company in Hong Kong

[pepcaro]

I would like to know the tases for a offshore company, and how to create.

thank you

[GE0RGE A]

Company formation fees Hong Kong Offshore IBC 1.900,- Euro

recurring fees from 2nd year on 690,- Euro

prices are orientative, but I think it´s a good point for beginning.

Note that companies incorporated in Hong Kong are subject to taxation, accounting and auditing,like Cyprus, Malta,and it´s not an EU company.

So as always, depends on the works are you gonna do with this company.

Rgards

[TheOffshoreAdvisor]

Unless you are planning to do business with China, there is little reason to form a Hong Kong corporation today because of the above listed requirements. You will not be able to remotely open a Hong Kong Bank Account with it.

If you are really interested in Hong Kong corporations and banking your better off to fly there. You can get a corporation formed for less than $1000 in person and then you can open a local Hong Kong bank account.

[Barron]

Originally Posted by TheOffshoreAdvisor

Unless you are planning to do business with China, there is little reason to form a Hong Kong corporation today because of the above listed requirements. You will not be able to remotely open a Hong Kong Bank Account with it.

If you are really interested in Hong Kong corporations and banking your better off to fly there. You can get a corporation formed for less than $1000 in person and then you can open a local Hong Kong bank account.

Last I heard, an HK Co. doesn't provide the privacy some ppl might be looking for any longer. Almost all the banks there want the (owner) to be registered in the public directory as a Co. Director now,

Best Regards

[jryangold]

Originally Posted by Barron

Last I heard, an HK Co. doesn't provide the privacy some ppl might be looking for any longer. Almost all the banks there want the (owner) to be registered in the public directory as a Co. Director now,

Best Regards

Yup, thats spot on. I have just come back from a trip that included HK and the all the banks down near Connaught Rd all want a public company extract showing directors listed.

[Neptuno]

Use nominee directors...

[Barron]

Originally Posted by Neptuno

Use nominee directors...

That's just the point, you can use nominees for all but one of the Director positions. At least one position has to be held by the actual owner of the Co., (persons name)

Best Regards

[Argentum]

Originally Posted by pepcaro

I would like to know the tases for a offshore company

A Hong Kong company can pay as little as 0% tax if structured correctly. This includes not trading in Hong Kong and generally staying clear of activities that would become taxable.

http://www.ird.gov.hk/eng/tax/bus.htm

Originally Posted by Barron

That's just the point, you can use nominees for all but one of the Director positions. At least one position has to be held by the actual owner of the Co.,

For director and shareholder you can use another company. This company can be an offshore entity, in a jurisdiction where names are not made public. Banks in Hong Kong typically won't mind this as long as they know who the UBO is

That way the UBO is not any public records, but you can still open a bank account.

[Offshore Guru]

Yes that is fully true. There isn't any problem to use a corporate offshore shareholder and director. There are even some formation agents which provides individuals.
But in most cases you will need to fly to Hong Kong once to visit the bank.

And another thing they usually don't tell you is that accounting and audit costs may be much higher than the company fees. If you want to claim offshore profit to stay tax free there is another process they must do for you. So you can easily come to additional 2500 or 3000 USD for accounting, auditing and the like.

[Argentum]

Originally Posted by Offshore Guru

And another thing they usually don't tell you is that accounting and audit costs may be much higher than the company fees. If you want to claim offshore profit to stay tax free there is another process they must do for you. So you can easily come to additional 2500 or 3000 USD for accounting, auditing and the like.

Accounting is something that for a Hong Kong company needs to be considered in the business plan. Either you do it yourself or you pay someone to do it for you.

From what I have understood (and please correct me if I'm wrong), audits are not mandatory. The IRD will determine if they want to perform an audit of your company. If your company has a relatively low, but stable, turnover, it's unlikely the IRD will do anything.