JURISDICTIONS & FEES
Hong Kong
HKCFM Rating *****
General
Type of Company Limited
Political Stability Good
Standard Authorised Capital No
Tax on Offshore Profits Nil
Corporate Requirements
Local Registered Office and Registered Agent Required Yes
Minimum Number of Directors/Managers 1
Local Directors Required No
Corporate Directors Permitted Yes
Minimum Number of Shareholders/Members 1
Local Shareholders Required No
Corporate Shareholders Permitted Yes
Company Secretary Required Yes, Local
Bearer Shares Allowed No
Annual Requirements
Filing of Annual Return Yes
Submit Audited Accounts Yes
Min. Annual Tax / Licence Fees US$335 (HK$2600)
Shelf Companies Available Yes

GENERAL INFORMATION

INTRODUCTION
Hong Kong is located in the South China Sea 100 miles south east of Guangzhou (formerly known as Canton). As of the1st July 1997 under the Sino-British Agreement of December 1984, Hong Kong became a Special Administrative Region (HKSAR) of the People's Republic of China. Hong Kong is the leading South East Asian centre for both finance and commerce and ranks as the world's third largest financial centre after New York and London. The Hong Kong Stock Exchange is the most active in Asia outside Japan.

LANGUAGE
The official languages are English and Chinese. The Cantonese dialect is the most widely spoken although Mandarin is becoming more popular.

TYPE OF LAW
The legal system of Hong Kong is English Common Law supplemented by locally enacted Ordinances. Under the 'one country - two systems' philosophy, the SAR has executive, legislative and independent judicial power. The capitalist system, legal structure and lifestyle remain unchanged.

COMPANY INFORMATION
TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
Private Company limited by Shares.

TIME TO INCORPORATE
One Day, but allow ten working days for receipt of documentation.

RESTRICTIONS ON NAME AND ACTIVITY
Names which suggest any connection to the Central People¡¯s Government or the Government of Hong Kong Special Administrative Region or which are offensive or otherwise contrary to the public interest or whose use would constitute a criminal offence are generally prohibited. Certain words which suggest specialist activity can only be used when the appropriate licences have been obtained e.g. Asset management, Building society, Fund management Chamber of Commerce, Kaifong, Municipal, Royal, Savings, Trust, Bank, Insurance and Assurance.

CLASSES OF SHARES PERMITTED
Ordinary shares, preference shares, redeemable shares and shares with or without voting rights.

DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.

LICENCE FEES
The Business Registration Fee (BRF), currently HK$2,600, is payable within one month of the date of incorporation and then due annually on the anniversary of the first payment.

FINANCIAL STATEMENT REQUIREMENTS
Every Hong Kong company must produce annual audited accounts and appoint an auditor, who must be a member of the Hong Kong Society of Accountants and hold a practicing certificate. The company must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the directors.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.

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