Wed, Apr 8th 2015, 13:26
Hong Kong has the best business framework in the entire world. Whether you are a local investor or an offshore, you can easily establish your company in this part of the world in a much hassle-free way.
Hong Kong has the best business framework in the entire world. Whether you are a local investor or an offshore, you can easily establish your company in this part of the world in a much hassle-free way. The most common type of company set up in Hong Kong is a limited company formation, a type of publicly listed company limited by shares. Other types of company you can establish over here are unlimited companies and companies limited by guarantee.
Whichever company you choose to establish, there is a specific profile you have to maintain for its smooth run. This includes some important designations, norms and regulations, and essential requirements that together give it the identity of a lawfully established firm. Therefore, if you decide to set up business in Hong Kong, make sure to maintain the profile, the details of which are listed below:
1. Directors and Shareholders – There must be at least one director and one shareholder in the company. The director has the power to operate as the shareholder of the company which can be an individual or a corporation belonging to any nationality.
2. Company secretary – A company secretary is a must for every company formed in Hong Kong. There must be at least one company secretary, who can be an individual or a corporation based at Hong Kong.
A meeting between the directors, shareholders, and the company secretary should take place at regular intervals at the registered office of the company. The meeting place should not be outside Hong Kong.
3. Registered Office – Every company set up in Hong Kong must have a registered office address that should lie within the country. The address of the company needs to be lodged at the Registrar of Companies and the information will be made available to the public.
4. Accounts – If you have set up company in Hong Kong and it is a limited one, you are obligated to keep accounts and records. These will be constantly audited by a certified public accountant. The government rarely interferes in the financial matters of the company. However, you have to ensure that you account are up-to-date and reflect the exact financial health of the company at any point of time. This will also come into account while you are filling your annual taxes. The current rate of tax for a Hong Kong company is 16.5% on the total profits earned in a fiscal year.
These are the 4 essential aspects that form the profile of the company you have incorporated in Hong Kong. Take the help of the local business consultants in order to manage and maintain your company’s profile. You can easily find corporation that can serve the duties of a director or a company secretary for you. They will efficiently take care of all the duties of the concerned professional and ensure the smooth running of your business. Find the best company and make the most out of your investment.
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