Company formation in Hong Kong is an increasingly popular option for foreigners considering the advantages of offshore company formation. The main reason for this popularity is that Hong Kong provides several benefits that attract foreign investors. The following article will briefly discuss the main advantages of company registration in Hong Kong.
Hong Kong is a particular administrative region of the People’s Republic of China. It is one of the fastest-growing economic zones globally and has seen rapid development in recent years through offshore company registration in Hong Kong. Thus, the laws governing company registration in Hong Kong are different from those in China and can be more complicated. Therefore, it is essential to seek the services of an expert company secretary if you wish to register a new company.
One of the benefits of company registration in Hong Kong is that it allows you to choose the corporate headquarters, or better yet, the main office, as your company’s home office. It means that all the business transactions between you and your clients will take place in this office. The central office location is entirely up to you and is not necessarily related to the country’s tax regulations in which your company is registered. Another benefit of company registration in Hong Kong is that there are no restrictions on foreign ownership of the listed corporations. If the corporation’s directors meet the Companies Act requirements, they will be allowed to establish an offshore company in Hong Kong.
Besides the advantages mentioned above, there are other advantages of incorporating in Hong Kong. One of these is that it is tough for people from any country to access the open bank accounts of persons having offshore company registration in Hong Kong. Thus, if you are an individual with offshore company registration in Hong Kong, you will have more privacy than people with regular accounts. Moreover, in case of any legal disputes, you will not be subjected to the extra paperwork that is usually required in the case of incorporation in other countries.
You will still need to have a valid tax identification number if you wish to establish an offshore company in Hong Kong. However, if you do not have one, you will not make any purchases or open a savings account. Thus, even though the company’s formation is free, it is essential that you still have a valid tax identification number because you will need it to open an offshore bank account. The company secretary also needs to be a resident of Hong Kong, unless he is one of the three individuals mentioned above who can be a nominee of the company secretary. If you are still concerned about having too many restrictions, then you should go ahead with the formalities of incorporating the company and its holding office in Hong Kong.
After the formation of the company, you must get the incorporation papers completed by the company secretary. Such paperwork includes the statutory company document for your offshore company, a register of shareholders, nominee agent, nominee service provider, director nomination, and articles of association. Your paperwork should be submitted to the Companies Registry in Hong Kong and the foreign authority that issued the document of incorporation. Thus, you must get such copies certified by the Companies Registry to avoid any confusion later. Moreover, the Companies Registry office in Hong Kong will keep all the official documents for your company to not worry about the storage and preservation of the papers.
Besides, you will also have to make arrangements for the registration of its business agent, the registration of the company secretary, and the director of the offshore company. You may choose to hire a legal firm for the purpose or opt to go through the internet for the same. Various offshore company registration companies offer assistance to foreign business people. Most of these firms offer a free consultancy and provide you with all the required documents to incorporate a company in Hong Kong. However, before making any decision regarding your company’s registration in Hong Kong, you must do thorough research on the offshore companies registry in Hong Kong and the company formation options available in Hong Kong.
You can save time, money, and effort by getting help from an experienced company incorporation firm. These firms have well-experienced staff that can help you incorporate your company in Hong Kong. Such companies also provide a company secretary, a director, an account manager, and other related services. So, you can save time, money, and effort by getting the assistance of an offshore company incorporation firm in Hong Kong.