Hong Kong, one of the Special Administrative of China, has successfully positioned itself as one of the profitable offshore business destinations.
It is one of the most liberal economies existing on the planet that permits foreign investors to come forward and enlist their business entities in the region, wholly exempted from the corporate tax.
The nation doesn’t hold any specific law that defines the offshore moves and incorporation rules; however, it has been successfully transformed into one of the leading offshore destinations of the world.
The tax-haven jurisdiction is a favorable one when it comes to offshore law firm setup.
In this guide, we’ll cover the essential details about offshore law firms that will be helpful for you if you are planning to invest in the offshore business.
Characteristics of Hong Kong: A Profitable Offshore Destination
As mentioned above, Hong Kong is a profitable offshore destination as it holds certain features such as:
- An inferrable low tax system
- Non-existence of foreign tax controls
- Monetary and political steadiness
- Simplicity in the complete working process
- A secured destination for safeguarding assets and wealth
The above pointers turn out to be attracting features in the eyes of the offshore business investors that provokes them to start an offshore company in Hong Kong.
What is An Offshore Law Firm?
An offshore law firm works in framing legitimate entities in various nations. The services delivered by an offshore law firm incorporate formulating offshore enterprises, offshore trusts, offshore private foundations, and offshore bank accounts.
The established offshore firms in Hong Kong also gets involved in:
- Offshore counseling
- Involve in the international tax planning
- Dealing with worldwide agreements
- Corporate organizing
- Worldwide resource insurance
- Global arranging and strategic counseling
- Assets and wealth management
An offshore law firm with branches in various landmasses giving offshore consolidation in more than 50 nations offers better-customized services relying on the customer's necessities than one tax haven jurisdiction offshore law firm.
Offshore Law Firms in Hong Kong
The diversified location of Hong Kong has got the massive potential for business investors who are dealing with offshore law firms.
The law firms in Hong Kong have stepped up and have become one of the highly opted options preferred by international investors who are looking forward to investing in Hong Kong.
How to Open an Offshore Law Firm in Hong Kong?
To incorporate an offshore law firm in Hong Kong, one has to go through specific steps to be dealt with accordingly.
Proceed with a New Company Incorporation
When it comes to new company formation, an investor has to get registered in the Registry by providing a specific set of company essentials that includes:
- A duly filled offshore company form
- Identity and address proof of the business shareholders and investors
- Memorandum and articles of association
- A well-drafted blueprint of the company
Upon submission of the documents to the registry, they will be evaluated accordingly to test their authenticity.
To get complete knowledge, go through our guide: How to Open an Offshore Company in Hong Kong.
Buy a Shelf Company
The second procedure is to buy a shelf company.
In short, to buy an existing company that has already been registered in the books of the registrar.
Proceeding with the option turns out to be feasible for the business owners who want to conduct primary business operations.
Here’s a guide on How to Buy a Shelf Company in Hong Kong that will give you an idea about the core process to be followed.
Thus, you have got a clear picture of the complete process that has to be followed to deal with the incorporation of an offshore law firm in Hong Kong.
The most well-known approach to consolidate an offshore company in Hong Kong is by employing a consultant. We at Business Setup Worldwide can enlist an offshore company in Hong Kong for you.
We can likewise uphold you with opening a bank account, getting business licenses, acquiring a migration visa, and taking care of ongoing company compliance and administration. Contact us today to learn more.