hongkong company registration

1
Why You Should Own Your Hong Kong Offshore
Company To Register Company in Hong Kong,
remember that the requirements that are offered
here are loose when compared to other locations.
This makes it the most suitable location for many
individuals seeking opportunities to come up
with their shell companies. It cost about HK
10000 to set up new company. At times it can be
lethal dealing with shell or the offshore
companies in this jurisdiction. They mostly lack
a physical presence around the city. Not even one
problem can be solved on the island in a
disagreement arising from any of the transaction.
When carrying out business in China, one is not
entitled to any protection because you would be
considered transacting business with a company
in Hong Kong. Most of the companies that opt to
Register Company in Hong Kong choose opening bank
accounts in small foreign banks. The reason is
that banks are run by the state, such as
Agricultural bank of china, Bank of China and
Construction Bank of China are strict when it
comes to opening of the company accounts. Having
a company account in these state run banks on
the mainland, it makes it safer for you in case
you require pursuing your rights on the mainland.
Another good advantage of having a bank account
with Hong Kong offshore company is the
availability of major international banks. These
banks have a wide international network of
2
branches. They are also trusted by several
business operators. Entrepreneurs can also get
needed assistance to open account with these
banks. There is no control of exchange in Hong
Kong. The banks dont charge any withholding fee
once funds are deposited with them. It simple to
deposit, transfer or withdraw funds with them.
The island bank operates without taxation. Banks
in this location can only show their clients
information with prior agreement from the
client. This law may not apply to the customers
suspected to have involved in criminal activities
including money laundering. The English legal
system applied in offshore location is well
established. The Hong Kong Inland Revenue
Department is prohibited from disclosing the
information of the customer to any third parties
including overseas or the local governments. The
suspects of the tax evaders in this Island city
are not given any protection by this law.
However, this law does not apply to the evaders
of tax from other countries. There are several
reliable trading activities in this city. This is
much dangerous for any given company with HK
correspondence. This does not apply at any time
to companies without such correspondence. The
procedures pertaining formation and to starting a
business in hong kong are simple. Your personal
presence on the island is very unnecessary. Most
of the international trade centers usually give
a haven of tax. Your company may benefit a lot
from a well-established legal system. No
controls of exchange exist and the tax rate is
very low. Foreigners who dont run business
activities around this city cannot enjoy offshore
benefits intact. Such entities may only use
local offices as their main registered address.
Several companies in China owned by foreigners
have Hong Kong holding companies. This provides
them with an access to the credit facilities.
Lack of the foreign exchange control is simply
mouthwatering for these companies.