Take the right path, let us do the math
Hong Kong Limited Company
A local Limited Company, where the liability of its members by shares, is the most widely adopted form of legal entity in Hong Kong. All the limited companies have to register with the Company Registry, and have to obtain Business Registration Certificate. Limited company is limited liability. According to the Companies Ordinance, any Hong Kong private limited company shall comply with the following requirements:-
General Requirements for Incorporation of Hong Kong Company
(1) The proposed company name, which can be in English or Chinese only or both, cannot be the same or too similar as one already registered with Companies Registry;
(2) Each company incorporated in Hong Kong must have at least one shareholder, one director and a company secretary. However, a person can act in dual capacity. That is, one can act as shareholder and director at the same time. Every private company to have at least one director who is a natural person, to enhance transparency and accountability.
(3) Shareholder and director can be of any nationalities. However, Company Secretary must be a Hong Kong resident or a company incorporated or having a business address in Hong Kong. Our company has different kind of company secretarial service plan for your selection.
(4) Each company must have a Hong Kong address to be used as Registered Office for communication with the Hong Kong Government. We can provide Registered Office upon request and we have incorporation package which includes a registered office. Of course, you can opt to use your own address as registered office.
New Companies Ordinance (Cap.622) has commenced operation on 3 March 2014, it adopts a mandatory system of no-par for all local companies with a share capital and retires the par value of shares, in line with international trends and to provide companies with greater flexibilities in structuring their share capital.
Reporting Requirements of a Limited Company
There are three reporting requirements for a Hong Kong limited company:
Annual Return
An annual return for reporting the details of directors, shareholders, registered address, etc. is required to be submitted to the Companies Registry within 42 days from the anniversary date of incorporation every year. This return is not for reporting financial statement nor taxes, and is usually prepared by a company secretary.
Employer's Return
The Inland Revenue Department will issue an employer's return to a company for reporting salaries paid to staff subject to HK taxes in April every year. The return is required to be completed and filed to the Department within one month from the date of issue whether there are such salaries paid or not.
Profits Tax Return
A Hong Kong company is required to submit a Profits Tax Return and audited accounts to the Inland Revenue Department every year. Its first financial year end date can be fixed at any date within 18 months from the date of incorporation. The same financial year end date needs to be followed in subsequent years. The first profits tax return normally will be issued at 18 months from the incorporation date, and the subsequent profits tax returns will be issued in April every year. The commonly used year end dates in Hong Kong are 31 March and 31 December. The deadline for submitting a profits tax return depends on the year end date chosen, but in general a company has to submit the return within one month.
ＯＶＥＲＳＥＡＳ ＣＯＭＰＡＮＹ
General Advantages of overseas company
Jurisdictions: British Virgin Islands (BVI), Samoa, Seychelles, Cayman Islands, Marshall Island.. etc.
Please feel free to contact us for details.