Today, one of the most popular Asian jurisdictions can rightly be called Hong Kong. In 1997, an independence over all territories of Hong Kong was granted to the People’s Republic of China, but subject to gaining the status of a special administrative region. Hong Kong is controlled by the following areas: a financial, an immigration policy, duties, an exception - a foreign policy and national defense.
Hong Kong is a special administrative region, while it is a full member of international organizations and the Olympic Games.
You do not have to visit the country to register a company in Hong Kong, this can be done remotely.
If you have decided to set up a company in Hong Kong, then first you need to study in detail all specifics of a work in this region. Companies, registered here, do not pay taxes, provided, that you do not receive an income in Hong Kong, but you are required to keep accounts and to conduct an audit (every year). In addition, in order to assure the Hong Kong tax authorities, that the company does not operate in Hong Kong, it is necessary to fill in a huge amount of documents, by the way, you will have to pay for each piece of paper. Especially, you have to prove it in first years of the company’s work, the tax service is ruthless in this matter. Regarding the opening an account in one of the banks in Hong Kong, there is something to think about. There are minimum deposits for opening bank accounts in Hong Kong, this is a big advantage for international business.
When choosing a name for a company, please note, that the name must end with “Limited”.
You should pay attention to the fact, that Hong Kong has signed an agreement on the exchange of information, but in a rather strict form, assuring, that the hunt for tax evaders will not begin. Registering a company in Hong Kong in 2021 is simple and easy, if you use services of YB Case specialists.