Hong Kong is a relatively small place, 1,098 square kilometres. Companies registered in Hong Kong are treated equally regardless of origins. No tax preferences are given. No industries are sheltered.
In fact, the 2008 Index of Economic Freedom survey, issued by the Heritage Foundation, recently sited Hong Kong as the world’s most liberal economy for the tenth year running. Hong Kong is again ranked the 1st place in the 2010 Index of Economic Freedom Survey.
When you come to Hong Kong you know exactly what you are getting – low taxes which are precisely the same as every other company in Hong Kong, a business friendly environment, modern infrastructure, and tremendous opportunity.
Why choose Hong Kong?
Hong Kong is an excellent choice to establish a business as it is one of the world’s major trading and financial centres, has a simple tax system and a low tax rate. Hong Kong has a territorial system of taxes where only business and salary income with a Hong Kong source are subject to Hong Kong taxes. Profits tax (for corporations with onshore profits) is a low 16.5% and salaries tax only 15%. As income which does not have a Hong Kong source continues to be exempt from tax, the structuring benefits of Hong Kong are obvious.
Accounting Requirement
There is no requirement to file accounts with the authorities but a company is required to keep financial records that reflect the financial position of the company.
Cost of incorporation & Management
Cost of Incorporation: $2.300
Annual Renewal Cost: $1.200
Who to contact?
If you are interested in more information regarding the registration of a company in Hong Kong, please contact Steve Friedman, Managing Director of Australia-Offshore:
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