Macau until 1999 was a colony of Portugal. Today it is an administrative district of China. Macau is a center of gambling, after the adoption of a “Gambling Act” in Macau in 2002.
Why Macau? Advantages of registering a company in Macau:
- A stable financial system;
- Low tax rates;
- It is a platform for trade cooperation between Mainland China and Portuguese-Speaking countries.
To register an enterprise in Macau
You can establish such legal forms:
- Unlimited company (S.N.C);
- General Combination company (S.C);
- Share combination company (S.C.A.);
- Limited company (L.D.A.);
- One member limited company (Lda.).
You can also register an IBC in Macau for such types of activities:
- office services;
- market research;
- legal services, a security;
- providing advice on programs, as well as a software, accounting, management;
- the information processing, a storage, data transfer;
- an administration and management of ships, aircraft.
A name is allowed in Chinese or Portuguese, not overlapping with existing ones.
Macau does not have the status of a common law jurisdiction. Therefore, trust ownership of shares is not recognized. There may be corporate shareholders, but meetings of the board of directors in this case are held only in Macau.
A company may have a corporate director. If this is a legal entity, the appointment of an individual as a representative is mandatory.
A company needs at least one director. It is elected by the shareholders for an indefinite period and is removed by their decision. The director has the right not to be a resident of the jurisdiction and not to act as a shareholder.
All documents, necessary for opening a business in Macau, including a Charter, must be signed strictly in the presence of a lawyer or notary directly in Macau.
Obtaining a license in Macau requires the provision of a business plan with the following nuances:
- a field of activity;
- the amount of investment;
- an involvement of local staff;
- the availability and size of the office.
For the IBC company’s, a physical presence in Macau is required.
An authorized capital
For the establishment of a Combined company in Macau (S.N.A. and S.C), the authorized capital is not required. A minimum capital for a Combined company with at least one shareholder with the unlimited liability (S.C.A.), as well as for L.D.A. with at least three shareholders (S.A.), is $125,000.
Opening an account in Macau: a banking system
Please note: banks in Macau are not represented by English-speaking staff. To open an account with Macau bank, you need to speak Cantonese or use the services of an interpreter. Web sites and online banking are in English.
A taxation in Macau
1 MOP = 0,12 USD
An income tax ranges from 7 to 12%. When the firm’s profit does not exceed 30,000 MOP, taxes are not paid. A taxable income is earned both within and outside Macau. There is no sales tax (VAT) in Macau. All companies in Macau must file financial statements.
Registering an enterprise in Macau has such advantages, as a flexible tax regime and a stable financial system. Registering a holding in Macau is also beneficial, especially, if you use tax benefits.
To set up a company in Macau, you need to contact our specialists. This greatly facilitates the path to success.