Why You Should Own Your Hong Kong Offshore Company To Register Company in Hong Kong, remember that the requirements that are offered here are loose when compared to other locations. This makes it the most suitable location for many individuals seeking opportunities to come up with their shell companies. It cost about HK $ 10000 to set up new company. At times it can be lethal dealing with shell or the offshore companies in this jurisdiction. They mostly lack a physical presence around the city. Not even one problem can be solved on the island in a disagreement arising from any of the transaction. When carrying out business in China, one is not entitled to any protection because you would be considered transacting business with a company in Hong Kong. Most of the companies that opt to Register Company in Hong Kong choose opening bank accounts in small foreign banks. The reason is that banks are run by the state, such as Agricultural bank of china, Bank of China and Construction Bank of China are strict when it comes to opening of the company accounts. Having a company account in these state run banks on the mainland, it makes it safer for you in case you require pursuing your rights on the mainland.
Another good advantage of having a bank account with Hong Kong offshore company is the availability of major international banks. These banks have a wide international network of
branches. They are also trusted by several business operators. Entrepreneurs can also get needed assistance to open account with these banks. There is no control of exchange in Hong Kong. The banks don’t charge any withholding fee once funds are deposited with them. It simple to deposit, transfer or withdraw funds with them. The island bank operates without taxation. Banks in this location can only show their clients information with prior agreement from the client. This law may not apply to the customers suspected to have involved in criminal activities including money laundering. The English legal system applied in offshore location is well established. The Hong Kong Inland Revenue Department is prohibited from disclosing the information of the customer to any third parties including overseas or the local governments. The suspects of the tax evaders in this Island city are not given any protection by this law. However, this law does not apply to the evaders of tax from other countries. There are several reliable trading activities in this city. This is much dangerous for any given company with HK correspondence. This does not apply at any time to companies without such correspondence. The procedures pertaining formation and to starting a business in hong kong are simple. Your personal presence on the island is very unnecessary. Most of the international trade centers usually give a haven of tax. Your company may benefit a lot from a well-established legal system. No controls of exchange exist and the tax rate is very low. Foreigners who don’t run business activities around this city cannot enjoy offshore benefits intact. Such entities may only use local offices as their main registered address. Several companies in China owned by foreigners have Hong Kong holding companies. This provides them with an access to the credit facilities. Lack of the foreign exchange control is simply mouthwatering for these companies.