SBLAW is pleased to assist Vietnamese investors to set up a Company in Hong Kong:
A) Setting up of a Company in Hong Kong
It takes around two weeks to form a new company of your own proposed name by first conducting a name search or taking 3-4 days if you choose one of the shelf companies from the HK shelf list.
B) Taxation in Hong Kong / Accounting & Audit Services
Hong Kong is a low tax country, taxed on onshore profits at 16.5% p.a. on net profits. In general, offshore income is not taxable in Hong Kong.
We can assist to provide accounting, audit services and to file Profits Tax Return with Tax Office, Hong Kong. Provided that all the business transactions, negotiation, contract /agreement execution are carried outside Hong Kong, the Hong Kong Company can apply for exemption of profits tax and claim income generated as the offshore income.
Offshore income is not taxable in Hong Kong. When the Company formally applies “exemption of profits tax” in Hong Kong with the Tax Office, they are required to provide “sample documents and explanation” showing the offshore trading activities unless they apply for “exemption of submission of audited financial statements” based upon the company has never commenced business in Hong Kong.
C) Bank Account Opening in Hong Kong
For bank account opening, we can assist to open the corporate bank account at international bankers in Hong Kong.
D) Procedures for Setting Up
Please find the following procedures for setting up a Hong Kong Company for your easy reference:-
Step 1: To complete and sign our attached application form; and then email the same to us with the below documents/information for our preliminary processing:-
i) Passport copy of each shareholder/director/bank signatory
ii) Residential address proof of each director/shareholder/bank signatory, e.g. identity card, utility bills, bank statement or driving licence by showing the name and residential address for issued not more than 3 months (in English).
NOTE:– If the proofs are not in English, please arrange them to be translated into English and notarized by your local notary public. Please be advised that the notarial certificate should be in ENGLISH as well
Remarks: As our part of due diligence requirements, if the director and shareholder are not able to come to Hong Kong to show the originals for our inspection, we will request them to provide us the notarised copies for our record. However, if the Company is required to open the bank account in Hong Kong, it is compulsory for director to come to Hong Kong for bank meeting. We will verify client’s documents in Hong Kong.
Step 2: Once we have a full picture of your required services and corporate structure of the Company, we will issue our invoice for your payment arrangement.
Step 3: Upon receipt of the payment and required documents (as per Step 1), we will start preparing the setting up documents accordingly.
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