Hong Kong

Hong Kong is the significant international financial, service and shipping center in the world. It is also information highly developed international city with the most free trade port, which is the reason that numerous merchants come to here to register Hong Kong Company to develop the business and improve the company image.

A limited liability company (LLC) is established by one or more shareholders, it shall be limited to the capital contributions, and the company should take limited responsibility. Shareholders undertake the limited to investment assets of the company if the company losses. As for other personal name assets, it will not be affected.

Unlimited company is established by one to six shareholders, the company should undertake unlimited liability for the debts of the company. It means that the proprietors of the unlimited company and partners should contribute all the assets under their personal name property when the company assets are insufficient to settle debts.

According to the Hong Kong Companies Ordinance, All the Limited Company registered in Hong Kong must appoint at least one company secretary. Their responsibilities will involve the following categories: First, submit the annual return and other required forms to the Companies Registry on a regular basis. Second, basing on the company directors/shareholders provide the meeting information to formulate the internal meeting record and resolution. Third, Print company stock to the shareholders. Forth, update record of the company.

Key Corporate Features

Benefits of Setting up Business in Hong Kong

• Simple Legal system
• Simple tax system
• Easy to incorporate
• Absence of foreign exchange control and fund can be freely transferred
• Easy to obtain trade finance
• Easy to get fund raising via the capital market in Hong Kong
• Low tax rate (e.g. 16.5% for 2015/16), no capital gain tax, business tax or value-added tax
• Higher reputation compare with incorporating a company in other tax paradise and therefore bankers and suppliers have more confidence for your company
• Preferential consideration is normally given to business visa by HK Immigration Department when applying under a HK Limited company

BVI

The British Virgin Islands (BVI) is a member of the British Commonwealth and self-governing in 1967. Since introducing its International Business Company (IBC) legislation in 1984 enhanced the jurisdiction’s popularity. Flexibility has been a critical factor in explaining this phenomenal success.

The BVI has established a solid international presence and enjoys a reputation for cutting-edge, progressive and user-friendly legislation with quality services.

Law and Taxation

BVI’s legal system is based on English common law supplemented by local ordinances. There are no taxes levied on Business Companies with the exception of the annual government licence fee which is USD350 for companies with the number of authorised shares issued up to 50,000. Companies that fail to pay their licence fee by the due date are subject to penalties and those that fail to pay five months after the due date will be struck off the Register. There are no exchange controls or restrictions on the flow of currency in or out of the territory.

Key Corporate Features

Samoa

Samoa’s offshore corporate legislation was originally introduced in the late 1980s and was based on Cook Islands legislation.

However, it now includes numerous enhancements, making it more user-friendly to suit the requirements of the Asian market.

Law and Taxation

There are requirements for Samoan companies to prepare Registers of Directors, Secretaries and Members and for these to be kept at the Registered Office.

The register of members or a copy of the register shall be maintained at the Registered Office within 1 month of the date of incorporation.

The shareholders may waive the requirements for audited accounts.

Key Corporate Features

Every Hong Kong Limited Company must have a Company Secretary that must be

• A natural person aged 18 or above, ordinarily resides in Hong Kong; or
• A body corporate, have its registered office or a place of business in Hong Kong.

Our Company Secretary Annual Parking Services includes:

• Act as company secretary for company registration purpose
• Prepare and file annual return to Companies Registry; and
• Advice on company secretarial matters.

Scope of our Company Secretarial Services:

• Annual company maintenance services
• Provision of company registered office
• Acting as company secretary
• Prepare and keep statutory records for the client
• Arrange and/ or attend company meeting and prepare minutes for the meeting
• Prepare and file document for change of company registered address
• Prepare and file document for change of director
• Transfer of shares
• Increasing share capital
• Allotment of shares
• Assisting in HK bank opening
• Renew and update Company Article

Clients’ duties

In order to provide high quality services and keep updating the Hong Kong Government in accordance with Hong Kong laws and regulations, client are required to:

• Inform our CPA immediately if any changes of company particular(s) and/or personal information (e.g. passport & address info);
• Inform our CPA when the company starts to commence the business and/or hire staff in Hong Kong; and
• Timely respond to our emails/notifications.