|Hong Kong is located on the southern coast of the People’s Republic of China. There is an estimated population of 7 million people and a land area of less than 1,092 square kilometers. The official language is English and Chinese and its currency is the Hong Kong dollar (HK$), which is pegged to the United States dollar (US$) at the approximate rate of HK$7.8 to US$1.
The company law is based on the United Kingdom Company Ordinance of 1932, which has been amended many times, most recently in 2005. As of the 1st July 1997 under the Sino-British Agreement of December 1984 Hong Kong became a Special Administrative Region (HKSAR) of the People’s Republic of China. The Basic Law, which is the Constitution of the HKSAR, is intended to maintain the HKSAR and the PRC as separate governmental, legal and economic systems.
The primary industries are the financial and investment services. Hong Kong only has two tax treaty agreements, with Belgium and Thailand.
Highlights of Hong Kong Companies
- Use of nominee shareholders permitted
- Confidentiality on beneficiary shareholders information
- Based on English Law
- Are not identified as offshore companies or tax havens
- Favourable taxation terms
- Neutral tax jurisdiction
- Does not have to share information with majority of the countries as it is not a member of the OECD
- Regulated financial services industry
- No exchange controls
- No restrictions on foreign Investment
- Incorporated in Chinese and/or English language
|Type of Company||Private Company Limited by Shares|
|Companies Law||Companies Ordinance, Cap. 32|
|Bearer Shares Permitted||No|
|Disclosure of Ownership||Yes (although use of nominee shareholders permitted)|
|Disclosure of Directors||Yes|
|Corporate Seal Required||Yes|
|Annual accounts filing||Yes|
|Annual returns filing||Yes|