Macau is a district in the People's Republic of China. Its full name is Mac Special Admin Rayon. It is a major global financial and gambling center, known for numerous gambling establishments. That is why Macau is often called the Las Vegas of Asia.
To register a company in Macau is regulated by the so-called Commercial Code. As experts of YB Case say, this document allows you to organize enterprises of the most diverse organizational and legal types in the country. If you want to work in this jurisdiction, you need to open an account in Macau. Enterprises, that can actually represent interests of foreign beneficiary investors, are usually characterized by the possibility of limited liability.
The advantages of the establishment of a firm in Macau
- a stable financial system;
- favourable terms of trade;
- low tax rate;
- companies are exempted from taxes on a profit, a business, an inheritance, a transfer of assets/property, a salary (in the first 3 years of activity), a stamp duty;
You can register a company in Macau in the following legal forms:
- The unlimited company (S.N.C.): a min capital is not needed;
- A quota mixed society (S.C.): a capital is not needed;
- A mixed stock company (S.C.A.): an equity is 125,000USD;
- The LLC: a capital is 3105 USD;
- A stock LLC: a capital is 125,000 USD;
- A sole owner LLC;
If you intend to open a company in Macau and to open a bank account in Macau, YB Case experts focus on the fact, that you can pay the capital of the enterprise both in cash or by bank transfer. If you choose the second option, you must attach to your constituent docs a certificate explaining the sources of funds, which must be certified by an experienced qualified auditor. In this case, the first amount is paid immediately, the rest is paid with a delay of 3 years.
Opening of a company in Macau is possible in such business directions:
- consulting services (for a computer hardware or a software);
- the creation of information bases, the information processing, its transfer and storage;
- the research of types and activities of markets;
- a management, the registration of ships, the aviation and the administration of these services;
- office services;
A basic information
- To register a company in Macau, at least 1 director and 1 shareholder are required;
- There are no requirements for shareholder residency;
- If the number of company employees is more than 10 people, it is necessary to appoint a secretary (there can only be an individual of any residency);
- The minimum statutory capital is $ 3105;
- Bearer shares are prohibited;
- The accounting is mandatory, as is the annual filing of financial records. Provided, that the average annual income of the company is more than 62,100 USD, an audit is required.
If your aim is to open a business in Macau, at the time of registration you provide a business plan for the company, specify the scope of planned activities, requirements to hire local staff, etc. In addition, you will also need to open a bank account in Macau.
Your company’s office is required in Macau, a staff must also be local
All documents necessary for registration of the company are necessarily signed only in the presence of a local notary.
General shareholders meetings are held without fail during the first 3 months after the end of the financial and accounting reporting year (can be held anywhere in the world).
If you decide to register a business in Macau, then YB Case specialists will provide you with support in opening a company in Macau remotely, as well as provide advice on opening a bank account in Macau remotely.