Hong Kong

General data
Hong Kong is located in the South-East part of China. Official languages – English, Chinese. Monetary unit – Hong Kong dollar.

Taxation
Income tax is extended only to commercial activity within the territory of Hong Kong. Income gained outside Hong Kong is the tax-free income. Income gained in Hong Kong is taxed by 16,5%.

Types of companies
Limited Liability Company.

Fixed capital of a company
Fixed capital of a company shall be declared, there are no requirements for obligatory payment of capital and minimum and maximum limit of the capital. Share capital may be in any currency. Minimum number of shares is 2 (two) nominal shares. Permitted types of shares: nominal shares with nominal value or without it, bearer shares and etc.

Permitted field of activities
All fields of activity, which are not forbidden by law, are permitted. Bank services, insurance services and reassurance services and also offer of trust services is licensed.

State annual fee
Commercial register fee currently is 300 dollars, which should be paid within one month after registration of a company and later annually at the same time, at which the first payment is performed.

Foundation of a company
Minimum number of shareholders - 2 (two).

Directors of a company
Minimum required number of directors is 2 (two). Directors may be both natural persons and legal persons. Directors may have any citizenship and they must not be resident persons.

Secretary of a company
There should be appointed one secretary, natural or legal person, who must be the resident of Hong Kong.

Meeting of shareholders/ directors
Meeting of shareholders/ directors may take place in any state.

Registered office
Company must have the registered office address in Hong Kong.

Period of registration of a company
2 (two) weeks.

Requirements to a business name
Business name of a company may be in any language using Latin alphabet. Name cannot be identical to already registered name. These are the names, which require co-ordination or license: British, Chamber of Commerce, Co-operative, Imperial, Royal, Trust, Insurance.

Presentation and audit of financial and annual statements
Hong Kong company must keep accounting, that may be placed at the registered office address or in any other place where the data related to directors could be available. In every company there must be an assigned auditor, who should be the member of Hong Kong Association of Accountants and must have activity license for this job. In this connection the accountancy is not to be presented to the registrar, but to the tax office.

Information about a company available for the third persons
The authorities do not hold back information related to the owners.