HongKong Corporate Formation
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HongKong Corporate Formation
Author:xcd   Article source: www.xcdacc.cn  Hits:1423  Add time:2009-6-1  
If you live and work overseas, but want to invest or set up a business in Hong Kong, you can simply rely on www.xcdacc.cn in doing so.www.xcdacc.cn/en can take care of everything for you, since www.xcdacc.cn is familiar with business formalities and investment portfolio in Hong Kong and ShenZhen, where www.xcdacc.cn/en is able to give you a tangible solution.
Hong Kong is an international metropolis with abundant information and opportunities. With an area of 1,100 square kilometers and a population of over 8 million, Hong Kong is the freest trading port in the world. Together with sound infrastructure and complete legal system of its own, it provides an advantaged financial & commercial environment to many entrepreneurs and traders. Therefore, more and more people establish their own companies in Hong Kong with different purposes, which improve not only the image of the company itself, but also the competitive ability in the international market. The followings are the basic facts for your business success in Hong Kong:
One. Corporate Shareholders, Directors and Legal Secretary of Hk corporate formation
At least one shareholder, one director and one secretary is needed for a Hong Kong limited company. A natural person aged above 18 years old is eligible for a shareholder and director or both. Shareholder could also be acted by a legal person, as far as corporate structure is concerned. In Hong Kong a statutory secretary should be acted by a Hong Kong natural or legal person for and on behalf of the company to ensure compliance with ongoing legal returns, accounts, audit and other requirements. Details of the company's directors, shareholders and secretary must be filed at the Companies Registry for public search.
Two. Company Name of Hk corporate formation
In Hong Kong, a trade name is much easier to define as long as you do not infringe the trademark of other companies. The name of a limited company should be ended with “limited”. You can have an English company name or a Chinese company name or both. If you like, you can add a country name or city’s name in front of or inside the company name, such as: France, USA, Italy, Japan, London, Beijing, Shenzhen, Shanghai and so on. 
Three. Business Scope of Hk corporate formation
In principle, there are not great restrictions on the business scope of Hong Kong companies. But you are advised to define your business activities before you set up a Hong Kong company; it is your choice whether to show the business activities on the business registration license or not.
Four. Registered Capital and paid-up capital of Hk corporate formation
The registered capital for a Hong Kong limited company could be as low as HKD 10,000.00 while the paid-up capital could be as low as HKD1.00, The investors can decide on the size of the registered capital while the capital duty should be levied at the rate of 0.1% by the government based on the size of the registered capital. If you want to use this company to invest in China, you’d better raise your registered capital as high as RMB one million so as to reach the criteria required by the Chinese government.
Five. Processing Steps of Hk corporate formation
Fill out an application form→ Payment→ Sign statutory documents personally→ Forward the documents to the Hong Kong relevant government departments immediately→ Finish within 7-15 working days→ Collect the documents at the designated office within three months.
Six. Documents Required for Business Setup
If you want to have a company registered in Hong Kong, you are simply required to fill out an application form, together with copies of the valid passport and sign the whole set of statutory documents personally. www.xcdacc.cb/en will cater to your registered address and legal secretary if necessary.
Seven. XCD’s Services, Government Fee and Service Fee for Business Setup
Xcd’s services include one business registration license, one certificate of incorporation, four chops, one copy of share certificate, 14 copies of M & A, one copy of statutory book for director’s record, one official receipt, one green paper box.
Terms of Payment: 60% deposit when order confirm and sign the Authorization letter then the balance would need to pay when the company had set up already.
Eight. Bank Account Opening and Service Fee of Hk corporate formation
www.xcdacc.cn/en is often honored as valuable business partners by many local or international banks in Hong Kong. Xcd’s assistance in the bank account opening and follow up will make you easier to establish business relationship and smooth paper processing with banks. Xcd’s service in bank account opening includes recommending bank, making appointment, offering certified true copy by our CPA, working as a referee and guide for the whole processing, providing contact address and doing documents follow-up.
For the bank account opening you might need business plan and address proves (electricity and phone bills in the latest three month) for bank reference.
Nine. Legal Secretary, Commercial Secretary
Although a legal secretary is a must for a Hong Kong limited company required by the local government, a commercial secretary would be an alternative offered by www.xcdac.cn/en. The commercial services include information and data processing, taking order, trade documents processing, telephone answering and transfer, travel arrangements, meeting arrangement, mailing service.
Ten. Annual Return and Service Fee of Hk corporate formation
Each year the company must submit an annual return to the Hong Kong Companies Registry and the Hong Kong Inland Revenue. You can let it be done by Tannet by simply signing back the confirmation letter. Xcd will give you one month notice before it gets overdue.
If failed in doing so, penalties will be implemented accumulatively, you can’t expect that the company will be suspended and cancelled eventually as China does, the maximum fine could be as high as HKD700 per day per owner.
Eleven. Accounting Services: Booking, Auditing, Tax Layout and Tax Return
If a company has business running on within Hong Kong, account book should be well kept monthly for an annual audit before you carry on a tax return to the Inland Revenue. www.xcdacc.cn/en can arrange bookkeeping and auditing for you in time of need. Every company is required to finish tax return annually. Submission of “nil” profit tax return without auditor’s report and financial statement would be accepted for the companies without business operation.  www.xcdacc.cn/en can not only make your accounts well kept, but also makes financial analysis to the previous years and budge report to your future development.
Twelve. Taxation in Hong Kong
Hong Kong has created an image of low tax and few tax environments. The distinctive taxes for enterprises are Income taxes (salaries tax, profits tax); profit tax is levied at rate of 15% for unlimited and 16.5% for limited companies respectively. Salaries tax ranges from 2% to 17% on net income (before deduction of the allowances). There are several features of the Hong Kong tax system. For most commodities, there are no import tax and export tax.
Thirteen. Other services in Hong Kong
www.xcdacc.cn/en provides the SMEs with assistance services such as corporate legalization or notarization, bank reference letter, investment immigration, website design, trademark registration, ISSN and ISBN application, entry visa or work permit.
Fourteen. Why Choose Hong Kong
Due to the simply tax system in Hong Kong & Hong Kong has a intermediate character between Worldwide and Mainland China in geographic matters,setting up a Hong Kong company is much convenience to all SMEs to extend their business which going to Worldwide or Mainland China both.
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