The company Registration requirements provided here are comparatively loose in comparison to other locations. This makes it the perfect place for many individuals looking for opportunities to form shell companies. It costs about HK 10,000 to establish a new firm.
It very well May be dangerous to take care of shell or offshore companies within this jurisdiction. They generally lack a physical presence in town. No problem can be remedied on the island if a dispute arises from any trade. When conducting business, there may be no protection as you would be considered to be transacting business with a company in Hong Kong.
Many Companies decide to open bank accounts in small foreign banks. This is because banks which are state-run like Bank of China, Agricultural Bank of China and Construction Bank of China are extremely exacting when it comes to opening business accounts. Having a business account in these state-run banks on the mainland makes it safer for you in the event you will need to pursue your rights on the mainland.
Another Benefit of starting a Hong Kong company registration is the existence of major global banks. These banks have a huge global network of branches. Such significant banks are trusted by many small business operators. Entrepreneurs can find the necessary assistance needed to open accounts with these banks.
There’s no Exchange management in Hong Kong. The banks do not charge any withholding fee once reserves are deposited with them. It is easy to deposit, withdraw or transfer reservations. The Island’s banks operate with no any additional fees.
Banks in This IMMANUEL Consulting place can only disclose a client is information with earlier consent from the client. This law might not apply to clients suspected to be involved in criminal activities including money laundering.
- The English legal system employed in this offshore location is very well recognized.
- There are Many real trading activities in this town. This is extremely advantageous for any company with HK correspondence. This does not apply to companies with any correspondence.
- The Hong Kong Inland Revenue Department is prohibited from disclosing customer information to any outsiders including local or overseas authorities. Suspected tax evaders in this Island City are not protected by this law. However, this law does not apply to tax evaders from different nations.