Hong Kong company formation is fast becoming one of the leading business opportunities available on the global market. It is because of the number of people looking forward to starting a business venture. This surge in interest in the business is the high rate of increase in people’s salaries with IT careers. Besides, many government incentives can entice even new starters to pursue a career in the IT industry. The following are some of the benefits of company formation in Hong Kong for you.
Hongkong company formation. One of the best ways to locate a dependable and credible business offering web-based Hongkong company formation services in the current market is to surf reviews on them. Yes, you must search the internet for independent review sites to see how satisfied customers have reviewed these service providers. When you see positive reviews from more than one independent review site, you should note it. You will be able to find a company that will meet your company’s requirements and expectations.
Tax Deduction. Most business people would look forward to the tax deduction available under the current system. It is not possible if you are still starting your business. The tax deduction that you can get through company incorporation services in Hong Kong is dependent on the amount of investment made by the shareholders as equity holders. Thus, it would help if you took the time to research the options open to you when you want to get tax deductions.
Access to the company secretary. Companies that establish themselves in Hong Kong are usually backed by a company secretary who maintains the books and records. If you want to have the company secretary as your employee, you can pay the fees required by the law. You can also hire an offshore company incorporation service to handle the secretary’s duties for you.
Access to the registered office. Companies that establish themselves in Hong Kong have their own Registered Office. This office is located at the Commercial Registry Office. To access the registered office, you must register at the Commercial Registry Office, pay the fees, and wait for a key holder to attend to you in person.
Keyman. If you are not a company director, you are not a shareholder. You are the company’s key man, responsible for all business dealings. To be a key man, you should be at least eighteen years old and hold a valid passport and a social security card issued by your country.
Shareholders. If you are a company director or an employee, you have one vote as a shareholder. The number of shares you can hold depends on the regulations in your State. The minimum number of shares is five, and you cannot have more than this.
Tax benefits. Hong Kong company incorporation makes it easy to avail tax benefits. You can have a permanent office for trading purposes, and you can use it for stock market day-to-day transactions. You will not be obliged to pay corporate income tax when you receive your income.
Limited liability. In Hong Kong company incorporation, you do not have to have a corporation or an office for managing the trade. All business transactions happen online, between the company’s registered office and its registered shareholders. Only in case of disputes do you have to go to court, rather than the other way around.
Secretaries. A secretary is an integral part of a company. He is responsible for recording all meetings, answering general questions and general queries, and sending annual reports to the shareholders. Companies usually appoint a public officer and a special board of directors, each with different titles. You will need to fill up a confidential form when registering your company.
Directors. There are two types of directors: directors appointed by the shareholders and directors elected by the shareholders. A company director is either a corporation director or a partnership director. A partnership director is also known as a general partner. There is no limit on how many partners there can be in a company.