Hong Kong

 

 

Main characteristics of the Hong Kong Private Limited by Shares Company

 

General

Type of company	PLC
Disclosure of Beneficial Ownership to Government Authorities	No
Tax on Profits	Nil on foreign profits
Corporate Legislation	Companies Ordinance, 1933; Business Registration Ordinance, 1959

 

Corporate

Min. No. of Directors	1
Min. No. of Shareholders	1
Min. Share Capital	HKD 1.00
Corporate Directors Allowed	Yes
Nominee Directors Allowed	Yes
Nominee Shareholders Allowed	Yes
Company Secretary Required	Yes
Standard Authorised Share Capital	HKD 10,000.00
Bearer Shares Allowed	No

 

Local

Local Registered Office	Yes
Local Registered Agent	No
Local Company Secretary	Yes
Local Directors	No
Local Shareholders	No
Local Meetings	No
Government Register of Directors	Yes
Government Register of Shareholders	Yes

 

Annual

Annual Return	Yes
Annual Accounts	No
Tax Return	Yes

 

Restrictions

• Can not do banking, insurance without special license.
• Naming Restrictions – In line with global norms, prohibited words include, for example, “Bank” and “Building Society”, and the registry has discretion to reject names that are indecent, offensive or misleading.

 

Advantages of using Hong Kong - PLC

• Fast incorporation procedures and simple ongoing administration.
• Reasonable formation and maintenance fees.
• Confidentiality.
• Directors and Shareholders can be either corporate entities or natural persons, residents of any country.
• Full exemption from taxation on any business activity carried on outside Hong Kong.