Hong Kong business incorporation services have grown in popularity among expatriates all over the world for its favourable business tax system and other benefits. An offshore company is a separate legal entity that is set-up in a low tax jurisdiction. The main reason why these businesses are set-up in a low tax jurisdiction is to lower corporate taxes, making these offshore entities more attractive to potential investors. However, there are essential considerations that you must take into consideration before setting up an offshore company in Hong Kong.
Many people prefer to use a low-cost service when it comes to Hong Kong incorporation services,especially considering that most of the business process can be completed online, through the Internet. However, the main reason why people prefer to use a low-cost service is that most of these providers only offer limited services and do not provide comprehensive services. Some services offer limited services and therefore can be considered as low-cost providers, but they do not provide comprehensive services, hence, leaving the investors with limited scope for growth.
Hong Kong business incorporation services include the incorporation of an offshore company in Hong Kong. The offshore company enables investors to invest in businesses, real estate properties, and shares without paying the average corporate income tax rate. It is also possible to invest in shares and bonds in various countries. It allows investors to have access to foreign markets. One significant advantage of using offshore business incorporation services is that these services are incredibly beneficial for the expatriate and Hong Kong investors.
There are several options available in the market for providing business incorporation services. Some of these include forming an offshore limited partnership, forming an offshore limited liability company (LLC), forming an offshore limited partnership (LLP), or forming an offshore corporation. It is best to opt for a company incorporation service provider that provides complete business incorporation services, as they will ensure the smooth running of your company, which will help you earn greater profits in the long run.
Company formation in Hong Kong is the most common method used by international businessmen and expatriates who are looking to start their own business. An offshore business incorporation service provider will provide you with the best professional services in business registration in Hong Kong, as well as legal advice and help to set-up the corporate structure. Besides, an offshore company incorporation service provider will help you in fillingup all the necessary paperwork, as well as get you a Hong Kong Limited Company Registration (HCL). Once your company registration has been done, you will be required to open a Bank Account, as well as an Operating Agreement.
Offshore companies may form themselves to cater to the needs of investors from diverse countries and regions. However, you should ensure that the offshore company which you choose is fully licensed to operate in the jurisdictions where you want to invest.
When establishing an offshore company, there are specific steps that you should take before you can set-up your offshore company. Firstly, the offshore company should always meet the following requirements: a) it should have an office or location at a registered office in Hong Kong, b) it should have an official address, c) it should have a board of directors meeting, d) it should have a secretary, e) it should have a secretary who is fluent in the local language and f) it should have a registered agent.
The offshore company which you choose must be approved by the Hong Kong government before it gets registered with the Hong Kong Stock Exchange. After getting registered with the HKSE, you can then get the Hong Kong Corporation Number (HKCN). It is required for the business to start functioning as a fully-fledged corporation and for the registration process to start.