Question 1

How long does it take to set up a company in Hong Kong?

Accepted Answer

The registration process usually takes 1 to 3 days after all required documents have been submitted and approved. We also have ready-made (shelf) companies available for immediate use.

Question 2

Do I have to come to Hong Kong to register a company?

Accepted Answer

No, with our help you can register a company in Hong Kong remotely.

Question 3

How are companies taxed in Hong Kong?

Accepted Answer

Hong Kong has a very simple, low-tax regime, with corporate tax capped at 16.5%. Hong Kong has a territorial tax system, meaning that only profits earned in Hong Kong are taxed. Profits earned elsewhere are not taxed in Hong Kong. Hong Kong also does not impose sales tax or goods and services tax.

Question 4

What is the minimum capital requirement for a Hong Kong company?

Accepted Answer

The minimum authorized capital is 1 share of 1 Hong Kong dollar (HKD) recommended 10,000 HKD. There is no mandatory requirement to pay up the authorized capital of the company.

Question 5

How many directors and shareholders are required?

Accepted Answer

A Hong Kong company must have at least one director and one shareholder. A director may be an individual or a corporate body, but at least one director must be an individual. A shareholder may also be an individual or a corporate body.

Question 6

Can I register a company in Hong Kong as a non-resident or foreigner?

Accepted Answer

Yes, non-residents and foreigners can register a company in Hong Kong. There is no nationality or residency limitation for company registration.

Question 7

What is a legal address and why do I need it?

Accepted Answer

A company's registered office is a physical address in Hong Kong where official correspondence and legal documents are sent. It is a mandatory requirement for company registration and must be maintained throughout the company's existence.

Question 8

What is the role of a company secretary and is it mandatory?

Accepted Answer

The company secretary is responsible for ensuring compliance with legal and regulatory requirements, such as filing annual returns and maintaining statutory records. Every Hong Kong company is required to appoint a company secretary.

Question 9

Are there any restrictions on doing business in Hong Kong?

Accepted Answer

Hong Kong permits a wide range of activities, but some regulated activities may require additional licenses or permits. Companies must comply with local laws and regulations.

Question 10

Can a Hong Kong company be used for offshore activities?

Accepted Answer

Yes, Hong Kong companies are often used for international trade, investment holding and asset management. They can operate worldwide but must comply with Hong Kong laws and regulations.

Question 11

Can a Hong Kong company open a bank account?

Accepted Answer

Yes, a Hong Kong company can open a corporate bank account in Hong Kong or overseas. Our company accompanies clients in opening accounts for the company and making payments to Russia.

Question 12

What is the financial year end of a Hong Kong company?

Accepted Answer

This is usually the period from 31 March to 31 December of each year for the base tax period. A Hong Kong company has a maximum of 18 months for the first year of the base tax period.

Question 13

What are the current regulatory compliance requirements for Hong Kong companies?

Accepted Answer

Annual Return: Must be filed with the Registrar of Companies. Financial Statements: Companies must prepare and file annual financial statements audited by a licensed auditor. Tax Returns: Annual income tax returns must be filed with the Inland Revenue Department.

Question 14

What happens if I fail to file my annual return or other required documents?

Accepted Answer

Failure to submit the required documents may result in fines and possible legal action. Continued failure to comply may result in the company being removed from the register.

Question 15

What do I need to do to keep my company running every year?

Accepted Answer

Business Consult Alliance will take care of all administrative tasks, allowing you to focus on running your business. Our company provides professional company secretary services, registered office, preparation of company reports and audits, tax compliance services.

Question 16

How to register an offshore company?

Accepted Answer

When you are ready to register an offshore company, click here and fill out a simple order form. We will take care of the entire process of registering your offshore company.

Question 17

Why register an offshore company?

Accepted Answer

There are a number of reasons why many people favor an offshore company. Low tax is the most discussed of these, as in many jurisdictions corporate tax is low or zero if the company trades outside the jurisdiction in which it was established. Offshore jurisdictions are characterized by a high level of confidentiality regarding company directors, shareholders and beneficiaries.

Question 18

Is it possible to register an offshore company remotely?

Accepted Answer

You do not need to travel to the country of incorporation to register your offshore company. To start the process of registering your offshore company, click here and fill out a simple order form.

Question 19

What documents are required to register an offshore company?

Accepted Answer

To register a company, we need to carry out the Know Your Customer (KYC) procedure. Required Documents: Certified passport Certified proof of address dated within the last 3 months (e.g. gas/electric bill or bank statement of account) The certification of documents is a confirmation that the copy of the document corresponds to the original.

Question 20

In which country can the address of a company's registered office be located?

Accepted Answer

The registered office of the company must be in the country where you are registering the company. However, the actual business address may not be the same.

Question 21

What functions does the enrollment agent perform?

Accepted Answer

The registration agent acts as an official (licensed) intermediary between the offshore company and the state, in particular with respect to the timely payment of the state renewal fee and the registration and filing of administrative declarations (as applicable). In general, the registration agent has a number of important legal and practical functions for which, accordingly, the offshore company pays an annual fee. The registration agent is legally responsible for the safe keeping and updating of documents, namely the register of shareholders / copies thereof, the register of directors / copies thereof, and copies of all notices and other documents filed by the company. In addition, unless otherwise decided by the directors of the company, the registration agent is the custodian of all minutes of meetings and resolutions of shareholders and all minutes of meetings and resolutions of directors. In particular, it is the duty of the registration agent to keep these documents up to date.

Question 22

What is nominal service? Can I use it in my company?

Accepted Answer

A nominee is a natural or legal person who acts as an officer (director, shareholder, partner, etc.) in your company. Yes, you can appoint a nominee officer to an offshore company structure. Most often the nominee is a director of the company, as a number of jurisdictions have a requirement for a state resident director. Also, a local nominee director is appointed for the convenience of company management.

Question 23

What is the difference between a shareholder and a beneficiary?

Accepted Answer

A shareholder is a person who is listed as the owner of shares in a company. Shareholders own shares in a company, which represent their ownership of the company and the right to receive profits as dividends. A beneficiary is the person who owns and controls the company. Often the shareholder and the beneficiary are the same, but sometimes the beneficiary of a company may use a nominee shareholder (in jurisdictions where this is allowed). Once a nominee shareholder has been appointed, a declaration of trust will be signed between you and the nominee shareholder.

Question 24

How do you retain control of a company if nominee officers are present?

Accepted Answer

To maintain control of the company, documents are signed between the nominee and the beneficiary of the company to protect both interests. The nominee service agreement and indemnity letter set out the rights and obligations of the owner of the company and its nominee manager.

Question 25

Why do I need to issue a power of attorney with a nominee service company?

Accepted Answer

If you plan to carry out activities on behalf of a company with a nominee director, you must issue a power of attorney. Without issuing a power of attorney on behalf of the company director, you will not be able to sign contracts, invoices and other documents because it is the director who signs on behalf of the company. A power of attorney can be issued for the term of appointment of a nominee director. Both the beneficiary of the company and a person authorized by the beneficiary can act as a proxy.

Question 26

Why is it necessary to liquidate an offshore company?

Accepted Answer

If you no longer need the offshore company, it is necessary to file a dissolution application, which will strike the company from the register. Failure to dissolve an offshore company beforehand leads to unfavorable consequences for the beneficiary of the company: failure to pay annual government fees does not exempt the company from filing other reports (e.g., financial statements, tax returns, notices of actual presence of the company, etc.). All this leads to the accumulation of fines on the company, which will be payable when the company is reinstated; an abandoned company does not exempt the owner from CFC obligations, since formally the company exists in the register even if it does not conduct activities. Contact us if you no longer need an offshore company and we will be happy to help you!

Question 27

How can I get confirmation that my company is in good standing?

Accepted Answer

If your company is in good standing and meets the annual requirements, we can help you obtain a Certificate of Good Standing from the Registrar of Companies. This certificate is an official document issued by the Registrar confirming that the company is in good standing.

Question 28

How can I change the officers in my offshore company?

Accepted Answer

If you have changed your name or simply wish to appoint an officer / resign from your company, this is not a problem. We can notify the relevant authorities and update your company registers. Please contact us and we will advise you on the best way to deal with the matter.

Question 29

Will my company's documents be recognized outside the country of incorporation?

Accepted Answer

Your company documents are not automatically recognized outside the country of incorporation. For your documents to be recognized outside the country of incorporation, you need to put an apostille on your company documents.

Question 30

What is an apostille?

Accepted Answer

Apostille is the certification and legalization of company documents by the state in which the company was registered. The document is used and accepted by countries that signed the Hague Convention of October 5, 1961, which abolishes the requirement to legalize foreign official documents.

Question 31

Is it possible to incorporate a company in the UK remotely?

Accepted Answer

A director, company secretary and shareholder do not have to live in the UK. They can live anywhere in the world and do not need to visit the UK to set up a UK company. Click here and complete the simple order form to start the UK company incorporation process.

Question 32

What is the minimum number of members in a UK company?

Accepted Answer

The number of participants in a company depends on its legal form. The minimum age of a company director is 16 years. LTD (Limited) Company — 1 person who can combine the functions of director and shareholder of the company LLP (Limited Liability Partnership) — 2 people as partners LP (Limited Partnership) — 2 people as partners

Question 33

Who can be a director of a UK company?

Accepted Answer

An individual can be a director of a company. You can appoint a legal person as one of the directors of the company provided that the other director is a natural person. A director is responsible for the management of the company. He or she must ensure that the company complies with its statutory obligations and that the decisions he or she makes benefit the company. The most detailed duties of a director are set out in the company's Articles of Association. You cannot be a director of a company if: You're under the age of 16 You've been declared bankrupt You are prohibited from being a director of a company by a court order

Question 34

What documents will I receive after registering a company?

Accepted Answer

Depending on the type of company you register will also depend on the documents you receive: Certificate of Incorporation Memorandum of Association Articles of Association или Partnership Agreement Minutes of the First Meeting of Directors Fully Completed Company Register Share Certificate

Question 35

Is it necessary to have a company's registered office in the UK?

Accepted Answer

Every UK company must have a registered office in the UK, which will be listed in a publicly available register. Correspondence for the company will be sent to this address. Official letters include all government mail (Companies House and HMRC) that will be forwarded to you.

Question 36

What are the annual requirements for a UK company?

Accepted Answer

Every UK company must file a Confirmation Statement and accounts annually.

Question 37

Does a UK company need an accountant on staff?

Accepted Answer

Your company is not required to have an accountant. However, his presence is recommended if your company is engaged in trading, as he can prepare the accounts as well as perform other duties related to the trading company's activities.

Question 38

Hong Kong offshore company. What are the main characteristics of a company in Hong Kong?

Accepted Answer

Hong Kong has long been considered a favorable tax jurisdiction. Here, companies can engage in international trade tax-free if they are structured and managed correctly (provided that the profits are not generated in Hong Kong). The following are the main characteristics of an offshore company in Hong Kong: There is no corporate tax on profits earned abroad, and tax rates range from 8.25% to 16.5%; There is no sales tax, no capital gains tax, no dividend tax, and no interest tax; “Gateway” to mainland China; A shareholder's liability is limited to the number of shares held; Under its own name, a firm can enter into contracts, acquire assets, and sue or be sued; The transfer of ownership may be accomplished in whole or in part by sale or issuance of shares.

Question 39

Singapore offshore company

Accepted Answer

Singapore is another fast-growing Asian commercial center, widely known as the “promised land” for startups, entrepreneurs and investors in commodities trading and wealth management. The following are the main characteristics of a Singapore offshore company: Corporate income tax is set at a competitive rate of 17%; Tax incentives and other benefits for entrepreneurs and investors, especially in financial technology and technological innovation; The liability of shareholders is limited to the value of their shares and they are not personally liable for the company's obligations; There are many options available to a Singapore corporation to minimize taxes; Compliance with the Accounting and Corporate Regulatory Authority (ACRA) and t he Inland Revenue Authority of Singapore (IRAS) is required.

Question 40

Offshore company in Belize

Accepted Answer

Belize is an excellent choice for opening a company and offshore bank account. The following are the main characteristics of an offshore company in Belize: Offshore businesses are exempt from all local taxes; High levels of security and confidentiality for directors and shareholders; The banking sector that helps companies offers high bank liquidity ratios, remote bank account opening and low deposit requirements; Doing business in Belize is more expensive than in neighboring South American countries; Companies seeking tax exemption certificate and non-resident status must demonstrate economic presence and tax residency in the jurisdiction in which they do business.

Question 41

UAE Offshore Company - Ras Al Khaimah (RAK)

Accepted Answer

RAK is one of the fastest growing regions in the United Arab Emirates and a popular destination for international investors and business owners. The following are the main characteristics of an offshore company in RAK: Fast company registration in one to two business days; There is no requirement that a specific currency be used as the company's capital; There are no restrictions on bank transfers or deposits for authorized capital; A foreigner can have full ownership; Income derived from foreign sources is not taxable; An offshore company in RAK is not allowed to conduct any business in the UAE; It is not permitted to rent local facilities / hire local workers.

Question 42

Which country is the best option for setting up your offshore company?

Accepted Answer

There is no universal answer when it comes to the best country for an offshore company, as each state has different advantages and disadvantages in terms of offshore companies. Above has been summarized the main advantages for each of the countries mentioned. The best country to incorporate your offshore company depends on the nature of your business. To find out more, contact us and our Business Consult Alliance team will help you choose the best country for your offshore company.

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United Kingdom

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