Why choosing Hong Kong company as your offshore operations ?
1) Legal Tax Free – As said above, offshore business is legal tax free. There has no VAT, nor Capital item tax. All director benefits including fees, etc are tax free. Returns from shareholders from local Hong Kong companies or offshore companies are also legal tax free. The bank interest received from the banks in Hong Kong or overseas are also legal tax free.
2) Privacy Protection – Hong Kong has Trust Law, so creation of trust is valid in Hong Kong. Although Hong Kong has public search system, through proper trust arrangements including appointment of nominees director and nominee sharehodler, the identity/provacy of the owner is legally protected.
3) Opening bank accounts in Hong Kong or overseas – Hong Kong is a well known Financial Centre. It becomes easier to open banks accounts either in Hong Kong or outside Hong Kong. In some cases, clients get banks accounts in Hong Kong immediately, even they get it within days without special approvals in case of offshore banks.
4) Exchange of information – Hong Kong has never signed up any TIEA with other countries. So there have no responsibilities nor any duties by the Hong Kong governments or Hong Kong Tax Departments or the relevant institutions like the banks in Hong Kog to exchange information to other countries.
5) Creation of business proof record – By submitting the profits tax to Hong Kong Tax department, they will issue a notice of determintation that Hong Kong company with offshore status is not required to payt tax in Hong Kong. So clients will have a proof of source of money/income/wealthy.
6) Other considerations – Please review again the first page and second page of our website you will find that more advantages belong to Hong Kong company, and it is why so many businessmen will use Hong Kong company as their way to do offshore business.
If you have further issues, please go to Contact US section and contact us for further issues.
If you want to start process, please go to Hong Kong Company setup section, and learn how to p roceed setup.
If you want ot start bank process also, please also go to Offsore bank accounts section, and learn how to open bank accounts opening.