|
Introduction
Hong Kong is situated on the south east coast of China. It has a total land area of approximately 1,000 square kilometers. That land area comprises a number of islands; including Hong Kong islands itself, and a portion of Mainland China. Hong Kong has a population of approximately six million. Local time is eight hours ahead of Greenwich Mean Time.
Hong Kong Island and the Kowloon peninsula were ceded to the British Government in perpetuity in 1842 and 1860 respectively. The remaining land was leased from China in 1898. That lease expired in mid 1997 and the ceded territory returned to China. China has resumed sovereignty special arrangements made in respect of the Hong Kong Special Administrative Region and promulgated by the Chinese Government providing that the existing system will continue for fifty years after the return of the territory to China.
The law of Hong Kong is based on English Common Law. The Hong Kong Court of Appeal is the highest court in the territory, but appeals may be made from its decisions to the Privy Council in London.
The financial industry
From early in its history, the excellent harbor and geographical location of Hong Kong made it a focal point for international trade. Today it has a developed financial and trade infrastructure with a sophisticated banking and financial services industry. This infrastructure, a low tax rate, no exchange control and a continued commitment to minimum government regulation are the ingredients which have made Hong Kong the financial center of the Pacific and Far East.
Hong Kong Companies
Secretary
There must be a secretary resident in Hong Kong. The secretary may be an individual or a corporation but not a sole director.
Registered Office
Every company must have a registered office in Hong Kong.
The above is only intended as a general outline of some of the significant features of the laws relating to Hong Kong companies. Should you require any further information, please contact ATA-CFM.
Registration of foreign companies
Companies incorporated outside Hong Kong and wishing to establish a place of business or branch in Hong Kong may do so by registering as an "Oversea Company" under Part XI of the Companies Ordinance and obtaining a business registration certificate.
[1] [2] |