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how/ways/process to open/set up/start/register-HK1

  • China China  
  • Last Updated:03 Apr 2020
  • Destination Port: Guangzhou

RFQ Details

Hong Kong Background

As a former British Dependent Territory, Hong Kong is located in the Pearl River Delta of southern China and became a Special Administrative Region of the People's Republic of China with effect from 1 July 1997. Nowadays, with a comparatively small population of more than 7 million, Hong Kong continues to enjoy high autonomy in the operations of its affairs under the 'one country, two systems' concept. In recent years of economic crisis, Hong Kong remains to be a powerhouse in world trade and one of the top twenty trading economic center, as well as the world's third largest financial center. And it competes with Singapore as the largest container port in terms of loading volume and works as the most significant gateway into Southern China.

Law and Taxation
Hong Kong's corporate law is established based on British Common Law. Local businesses are regulated and Hong Kong regards itself as a Low Tax Centre rather than a Tax Haven. Taxes are levied on profits, salaries and properties at varying rates. Real Estate duty was completely abolished on 11 February 2006. Only profits derived in Hong Kong are assessable for taxation, while offshore transactions are not subject to Hong Kong taxation, although the Inland Revenue Department (IRD) is extremely rigorous in its determination of onshore and offshore profits. Due to Hong Kong's role as a major trading and entry point to the Mainland and Asia, the bulk of companies formed in Hong Kong are generally for trading purposes.

Local Infrastructure
There are in excess of 1 million companies incorporated in Hong Kong. With the implementation of the Integrated Companies Registry Information System (ICRIS) on 28th February 2005, the new Companies Registry Electronic Search Services became available for checking company information.
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