When starting the process of Hong Kong company formation there are various things which are required and must be researched. Before forming or registering the company, be certain to find out precisely what is necessary since each individual authority can require different paperwork.
Benefits of Registering in Hong Kong:
Some of the benefits hk company formation includes the processing period, which may be relatively quickly depending how the program is put in. If the registration is completed on paper as well as also the forms handed in personally the registration certificate can have a mere 30 minutes. However, if the method is carried out by mail, it is going to take as many as two days to complete the procedure.
Also, there are additional Benefits of choosing Hong Kong offshore business including:
Simplicity in opening and Operating an offshore bank accounts, which may be kept online with no demand for bank visits
- Protection of privacy
- Proof of income protection
No taxes if the money is not being earned in the nation. If the money has been earned in Hong Kong it will incur a 16.5% income tax determined by the net profits. While the wages tax is a maximum of 15%.
No VAT or sales tax applicable. Also, all products that qualify to be maintained as from Hong Kong can be exported to the Mainland of China with no excess price.
No restrictions regarding Investments in the nation or outside:
Hong Kong bvi company formation must be completed within a month of starting up the company in Hong Kong. It must be filed with the office called the Business Registration Office of Inland Revenue Department. When the registration certificate has been granted it is a requirement it is posted in the workplace.