Tom Luxsox Coins

Hong Kong

There are many options when it comes to offshore banks; however many are choosing Hong Kong. Let's find out why a Hong Kong offshore company could be right for you.

This international city has a very stable economy and political status. As a part of China, HK has a strong workforce of diligent workers and acts as a gateway to the huge market of Mainland China.

Why Hong Kong?

Economic freedom

HK's economic freedom is due to very limited Government intervention and proactive policies for foreign investors. Investors are encouraged by various incentives and what they are able to do which makes it one of the most liberal jurisdictions when it comes to economic freedom.

Currency flow

There are no restrictions on the currency that flows in and out of HK. Currencies like USD, GBP and Japanese Yen are freely remitted between Hong Kong and the rest of the world.

Tax free

Offshore businesses are completely tax free. According to the law only local businesses are subject to profit tax. This is a major benefit for traders, a trader can buy a product from one country and sell it to another while not paying any tax, as both transactions happened out of the jurisdiction.

Low tax rates

For local businesses there is a tax rate, which is low when compared to other countries. The tax rate on local businesses is currently 16.5% of net profit booked by the company. The absence of VAT, capital gains tax and business tax is a significant benefit.

Startup

The startup procedure for a business is very simple and requires no capital investment. A business owner can appoint a foreigner as director and shareholder, as long as they recruit a local professional as secretary and a registered office address. The non-requirement of a capital investment makes it far easier for an entrepreneur to open a company here. There are no restrictions on the name you chose for your company unlike many countries; you can pick from Holding, International, Group, etc.

Offshore Bank accounts

Opening an offshore account in Hong Kong has become very easy in the past few years. Global players originally from Hong Kong, such as HSBC have made great strides in easing out the process, while providing their customers with a feature rich experience. The information required includes a passport copy, company information, and a general description of the business.

Liability benefits

The most common type of company is a private limited company. Being private in nature such companies transfer minimum liability to their shareholders.

Corporate structuring

A foreign company can easily be appointed as a shareholder, or director, or both of a Hong Kong company.

Trust law

If the investor or owner of the company wishes to be anonymous, he or she may do so with a trust arrangement. Very few countries give an investor this option.

For the above-mentioned reasons and more, a Hong Kong offshore company can prove to be a valuable platform for a successful business operation.

Healy Consultants is a leading corporate services firm that assists entrepreneurs and investors with setting up a Hong Kong offshore company, along with a range of other corporate services. The firm provides a range of services to ensure the success of the Hong Kong offshore company. More information on company incorporation can be found by visiting http://www.healyconsultants.com.

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