Hong Kong


GENERAL INFORMATION 

Hong Kong is one of two special administrative regions (SARs) of the People’s Republic of China (PRC), the other being Macau.

A city-state situated on China’s south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour.

With a land mass of 1,104 km2 (426 sq mi) and a population of seven million people, Hong Kong is one of the most densely populated areas in the world.

LEGAL SYSTEM

Hong Kong’s legal system is completely independent from the legal system of Mainland China. In contrast to mainland China’s civil law system, Hong Kong continues to follow the English Common Law tradition established under British rule

ECONOMY

As one of the world’s leading international financial centers, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the ninth most traded currency in the world Hong Kongwas once described by Milton Friedman as the world’s greatest experiment in laissez-faire capitalism.

It maintains a highly developed capitalist economy, ranked the freest in the world by the Index of Economic Freedom for 15 consecutive years.

It is an important centre for international finance and trade, with one of the greatest concentrations of corporate headquarters in the Asia-Pacific region,[  and is known as one of the Four Asian Tigers for its high growth rates and rapid development from the 1960s to the 1990s.

Between 1961 and 1997 Hong Kong’s gross domestic product grew 180 times while per-capita GDP increased 87 times over.

For incorporation queries in this jurisdiction, please complete and return to us our Company Formation Questionnaire.

For further information on our services provided in this jurisdiction, please Contact Us.


JURISDICTION INFORMATION CHART
Status Limited

Corporate requirements
Minimum Share Capital One share
Minimum Number of Shareholders One
Minimum Number of Directors One
Bearer Shares Allowed No
Corporate Directors Permitted Yes
Company Secretary Required Yes
Shelf Companies Available Yes

Local requirements
Registered Office / Agent Yes
Local Directors No
Local Secretary Yes
Local Meetings No
Government Register of Directors Yes
Government Register of Shareholders Yes

Annual Requirements
Annual Return Yes
Submit Audited Accounts Yes

Taxation
No tax on offshore profits

Government fees
USD300

Exchange controls
No

Time to incorporate
2-3 weeks

Documents necessary for the Incorporation
Details of the shareholder, including notarised copy of passport, utility bill and original bank reference letter

 

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