The Hong Kong company needs a minimum of 1 shareholder and 1 director, which can be the same person, or the same corporation residing anywhere. Meetings of directors and shareholders can be held anywhere.
NB//: uses of Hong Kong companies.
- BANKING: As there is no exchange control in Hong Kong hence local bank accounts can serve as transit centres for the transfer of funds between different countries. Foreign currencies may be deposited and withdrawn in the same currency without conversion to Hong Kong dollars. Purchase and sale of any currencies if needed are subject to the most competitive bank exchange rates. Bank interest is not subject to tax in Hong Kong
- INVESTMENTS HOLDING STRUCTURES: Capital gains and dividends are tax-free in Hong Kong.
- TRADING: Hong Kong companies can engage in trading activity, we aid in contacting suppliers and buyers, handling shipment of goods, invoicing, and letters of credit
- GOOD FOR HOLDING PROPERTIES: Hong Kong companies may hold overseas or local real estate, companies, stock, etc. to protect owners from estate tax, divorce settlements or other attachments
- RECEIVING INCOME: Overseas commissions, books or mineral rights, consultation fees, rental fees, interest, dividends, etc. can be received in the name of a Hong Kong company tax-free. Such income can be remitted into Hong Kong for deposit or held elsewhere.
- RE-INVOICING: Since Hong Kong is one of the leading trade centres in the world, many Hong Kong companies are used for re-invoicing purposes (“triangle”). The Hong Kong company buys goods from one country to be resold to another country at a profit which will be tax-free as the goods are shipped directly between the two countries.
