3 Keys to Success to Set Up Your Company in Hong Kong
John Barclay, Managing Director of Primasia Corporate Services
The set up of a company in Hong Kong is quick simple and easy.
1. Easy of Set up
A company needs 1 director, 1 share holder and they can be the same person. Your company needs to issue 1 share of 1 HK dollar = 12 US cents. You need a Hong Kong resident as company secretary and a local Hong Kong address as your registered office. You can be fully activated and ready for business in 1 week.
2. Easy of Administration
A simple annual return and a simple tax return 18 months after incorporation is required. The tax return must be supported by auditors and prepared to international accounting standards.
3. Ease of operating a company in HK
Hong Kong offers a simple employee friendly legislation. Companies need a joiner’s form, a leaver’s form and a year end return. You do not need to deduct tax from your employees they do this individually at the year end. A simple single social security scheme is in place and is called an MPF. The MPF operates at a fixed percentage deduction
That is all you need to do to set up and administer your company in HK. For cost-effective business solutions, serviced offices and virtual offices, visit servcorp.com.hk.
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