Setting Up An Offshore Company In Hong Kong
If you have decided that you want to set up an offshore company, you may not have considered Hong Kong as an option. It can be easy to set up a Hong Kong offshore company and enjoy many of the benefits associated with more traditional offshore jurisdictions. Hong Kong is recognized in the World Banks Doing Business survey as the 3rd easiest place to do business in the world.
A Hong Kong offshore company is an efficient corporate structure for holding corporate assets. An offshore company in Hong Kong is governed by the Hong Kong Company Registry and, as such, is required to adhere to the corporate compliance and disclosure requirements set out in the Hong Kong Companies Ordinance.
There are many advantages for a Hong Kong offshore company. One of them is that Hong Kong is not considered to be a place for people who are trying to avoid tax obligations, it is not tarnished by a ‘tax haven' image. This is good for the business owners and partners, because company image is an important characteristic for attracting potential investors and reassuring banking partners of the businesses viability. A stable political system and economic environment also add extra protection for investors in a Hong Kong offshore company.
A Hong Kong offshore company can be a good choice for someone who is looking to participate in one of the most dynamic economies in the world. Many entrepreneurs are looking to get a foot in the door to doing business in China to take advantage of its growth and rapid expansion. As a gateway to China, Hong Kong provides a number of key attributes that appeal to foreign entrepreneurs. These include:
- The close geographic location
- Recognition as being in the top 3 global financial centres
- Government incentives to business setup
- No language barriers for non-Chinese speaking foreigners
Engaging the services of a corporate service provider in Asia can greatly assist in completing the required processes for registering an offshore company in Hong Kong. An experienced firm can also provide additional valuable services such as opening corporate bank accounts and setting up a virtual office. Hong Kong is an exciting city and provides entrepreneurs with world-class infrastructure and attractive incentives for starting a business. A Hong Kong offshore company is an efficient vehicle for reaching international business objectives.
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Hong Kong is the world's seventh largest Foreign Direct Investment recipient, as stated by the United Nations Conference on Trade and Development (UNCTAD) in 2008. This article affirms why Hong Kong is an attractive location to set up a new company or offshore business, and the procedures involved in doing so. Tax benefits, economic freedom, government stability and reputation are a few of the many reasons why company incorporation in Hong Kong is a prevalent decision.
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An Offshore, International Company is commonly set up in a tax haven like the British Virgin Islands, Bahamas, Caymans Islands etc, where there are no corporate or personal income taxes, capital gains taxes, reporting requirements, or restrictions on company employment policies.
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