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A.
INFORMATION ON STRUCTURES
- Registration: The statutes must be signed by the incorporators
- Type of Company: Private limited company
- Legislative source: Common Law -HK Companies Ordinance (Cap. 32) and the Inland Revenue Ordinance
- Authorised suffixes: Limited, Inc
- Duration of incorporation: 3 to 12 open days
B.
TAX
- Tax on profits: 17.5% on profits made in Hong Kong, none for profits made abroad
- Capital gains on yielded subsidiary securities: No
- Retained at source for dividends/interestsroyalties paid by the company: No
- Taxation of royalties received by the company: No, if dividends are from abroad
- Tax convention: Tax convention with China
C.
LEGAL CHARACTERISTICS
- Number of directors: Minimum 1, no restriction with regard to nationality
- Company requiring director: Yes
- Director local resident: No
- Secretary required: Yes
- Company requiring secretary: Yes
- Secretary local resident: Yes
- Minimum number of shareholders: 1
- Standard Issued capital: 1000 HK$
- Bearer shares possible: No
- Type of parts: registered
D. MANDATORY LOCAL REPRESENTATION
- Local head office: Required by law
- Local agent/secretary: Required by law
E.
STATUTORY AND BENEFICIARY INFORMATION
- Public information: Head office, secretary, director, shareholders
- Disclosure of economic beneficiaries: No
- Information on modifications: Yes
F. ACCOUNTING - ANNUAL ACCOUNTS
G.
PROHIBITED
- Trading as a bank without a license
- Trading as an insurer or re-insurer without a license
H. MANDATORY
- Have a head office on site
- Have a local representative at the same address as the head office
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