Hong Kong

Learn more about Hong Kong Private Limited Company.

Situated on the southeast coast of China, Hong Kong is comprised of Hong Kong Island, Lantau, New Territories and Kowloon with land mass of 426 square miles. Not only is Hong Kong the financial center of Southeast Asia, but also the third largest in the world, the ideal gateway to China and Asia.

In 1997, Hong Kong, a former British Dependent Territory, became a Special Administrative Region (SAR) of the People’s Republic of China. With the “one country- two systems” philosophy, Hong Kong continues to run its own affairs. It has executive, legislative and independent judicial power. Hong Kong preserved its capitalist system with free flow of capital and freely convertible Hong Kong dollar.

Economy & Infrastructure

Hong Kong’s capital economy is characterised by low taxation and free trade, attracting many overseas operations to base in Hong Kong. Its geographic feature also developed Hong Kong into a global trading hub and largest re-exports, mainly redirecting goods from mainland China. Hong Kong has modern infrastructures, communication systems and a professional service industry catering to clients from around the world.

Hong Kong has world’s highest population density with over 7 million people, mostly ethnic Chinese. The official language is English and Chinese but Cantonese widely spoken. Official documents are mainly in English with Chinese translation for reference. The official currency is Hong Kong Dollar (HKD).

Law & Government

Legal system in Hong Kong is based on English Common Law with a tax system on a territorial basis. Taxes are levied on profits, salaries and property at varying rate. Genuine offshore transactions determined by Inland Revenue Department (IRD) are not subject to Hong Kong tax. There is no tax in Hong Kong on capital gains, dividends and interest earned. Hong Kong has comprehensive double tax treaties with many countries around the globe.

 

Advantages of Incorporating in Hong Kong are:

• Minimum one director and shareholder is required, who can be the same person.
• Board meetings can take place in any other jurisdiction.
• Close to and with excellent relationship with mainland China.
• Double Tax Treaty with China.
• Global top financial centers with no exchange controls or restrictions on flow of currency.
• Well-developed banking sector and professional services.
• International center of information exchange and transportation hub.
• Multi-lingual Incorporation documents allowed (Chinese characteristics accepted).