Company Formation Services in Hong Kong
Hong Kong Company incorporation services have become more prevalent in recent times. It is also becoming an attractive option for investors who want to open a new business in a relatively fast developing economy. The following article gives some of the benefits of company incorporation in Hong Kong, especially for businesses looking forward to expanding their operations into the Chinese mainland market.
A company is set up in Hong Kong when it gets registered at the Companies Registry Office of the Hong Kong government. Companies that wish to incorporate in Hong Kong need to have their capital sum raised from banks or other sources, then meet the formalities of the Companies Registry Office. Once registered, a company has the right to operate under the rules and regulations of the Hong Kong business taxation system for Hong Kong company incorporation services. These include paying taxes and annual registrations as well. Many people are apprehensive about starting a business in Hong Kong because of the unclear rules regarding the tax system.
However, by paying the required tax and following the other formalities, you will reap many benefits of company incorporation services in Hong Kong. The first advantage is that the tax system in Hong Kong is very simple and straightforward. There are only two taxation categories: general tax and income tax. In addition, businesses can avail themselves of free trade assistance from the Chinese government if they satisfy the requirements for their business registration. They can also get unique benefits from the central government in the form of grants depending on the nature of their business.
Another benefit of using Hong Kong company incorporation services is that it helps protect your business assets and money in different world regions. You can use these offshore companies to keep your business assets safe from confiscation or liquidation. Unfortunately, many entrepreneurs attracted by the low cost of registration and incorporation find it difficult to obtain legal permission for doing business in their names in the foreign regions. However, using offshore company formation services can provide a safe and reliable solution for this problem.
Company incorporation is an important task, and several documentshave to be furnished by the entrepreneur when he applies for the registration of his company name in Hong Kong. If the application is incomplete, it will be returned to the applicant andrequest further clarification.
The whole company formation process in Hong Kong is very complicated and requires lots of assistance from various departments, including the legal, financial, and administrative departments. Even after submitting all these documents, you cannot be sure that you have correctly set up your company. There are chances that the documentation may not be complete or that the statutory regulations may not be followed. Therefore, seeking the help of a qualified company formation service is advisable. A professional company formation service will ensure that everything is done correctly and assist the entrepreneur in obtaining the appropriate permit.
Hong Kong company incorporation services can help you save lots of money by providing the best value for the money that you spend. If the business is established in China, then it will be difficult to open an account in your name because it would require a China company number. It is difficult for foreigners to obtain this China company number even after paying a considerable amount of fees. However, if you incorporate your business in Hong Kong, you can use your identification number (PIN), which is given to you at your employment, to start your own business.
A professional company secretary will do most of the hard work, from drafting the Memorandum and Articles of Association to filing the necessary documents with the statutory departments and acquiring the appropriate China company number for the benefit of the entrepreneurs. You can save money by avoiding paying the incorporation fee when you are not incorporating a particular business. Company incorporation services will charge a one-time registration fee and an annual renewal fee of a fixed sum. However, before paying the price, make sure to check whether you are getting all the rights and benefits that you had expected. If you do not have adequate knowledge about the incorporation process, you should not proceed until you consult an expert company secretary.