There are many places in the world that are really good to set up some overseas businesses and Hong Kong happens to be one of them which is also very popular thanks to the fact that it has really low tax regimens. There are also no controls on the foreign currency, political and financial or economic security is great and it is therefore very easy to set up there. The country is one of the best places to start something like banking, trade that happens internationally and even field like investments and protection of assets. Here are some of the things that you will need in order to form the business in Hong Kong successfully.
The name of your business
In order for you to start off with the corporate compliance consulting HK, you will need to present the proposed name of your business first and this will then need to be approved by the Registry there. This will be the initial step that you must do before anything else.
Address and administrator
What’s next on the line? Employing trusted accounting services HK is considered compulsory by the law here. This individual can either be a local person or somebody who is tied up to the business. Whether or not they have the right qualifications will not be questioned but make sure that you as the sole proprietor or the shareholder cannot also appear as this individual. When it comes to the address you will need to have a physical address that is local and it must not be a PO Box. The registered address has to be real and is very important.
Show directors and shareholders
You will then need to start looking at showing the relevant details. You will need to at least provide one director and you can show any amount up to the maximum number of directors that you can. These directors can either be residents of the country or outsiders. They can also be people or even other businesses. Nationalities of the directors and nominee directors are not a problem. When it comes to shareholders the minimum is one and the maximum is fifty. Again they can either be individuals or other organizations. Nationality is not a problem. The sole proprietor can also act as a shareholder and you are allowed to show local and foreign shareholders on a hundred percent basis.
Indicate the amounts of taxes and shared capital
There should be a shared capital amount that has been deposited into the bank account of the business and this should be on your records. You cannot offer bearer shares for this purpose. The only tax that will be incurred on you will be one that is taken from the amounts that is earned within the country. Any foreign income is exempted from taxations.