No, there is no particular requirement in the Companies Ordinance as far as the office address, director or company secretary for a Hong Kong company are concerned.
If your documents are in order approved, the entire process, including getting your Certificate of Incorporation and Business Registration Certificate, can be completed within 1 hour.
There is no requirement for the minimum amount of a company’s paid-up capital under the Companies Ordinance in Hong Kong.
The corporate tax rate in Hong Kong is 16.5%.
There is no Value Added Tax (VAT) in Hong Kong.
There is no Goods and Services Tax (GST) in Hong Kong.
There is no sales tax in Hong Kong.
There is no real estate transfer tax in Hong Kong.
The mandatory sources of Generally Accepted Accounting Principles (GAAP) in Hong Kong are:
- Companies Ordinance
- Hong Kong Financial Reporting Standards (HKFSR)
- Listing Rules
The aim of the new Companies Ordinance in Hong Kong is to provide a state-of-the-art legal structure for the incorporation and operation of companies in the country. The new Companies Ordinance has 4 objectives:
- Enhance corporate governance
- Ensure better regulation
- Facilitate business
- Modernise the law