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| INTRODUCTION |
Hong Kong is one of the premiere financial centers in the world. Hong Kong now part of the People's Republic of China has an open economy and a strong legal system, with executive, judicial and legislative power separate from China's. Many of the worlds most powerful companies have used Hong Kong as a corporate connection while conducting business in Asia. Hong Kong also serves as a base for over 200 of the world's largest financial institutions.
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| LAW AND TAXATION |
Laws in Hong Kong are unchanged as of July 1, 1997 with its designation as a "Special Administrative Region" of the People's Republic of China. The laws will remain unchanged until at least the year 2047 against any application of a socialist economic system.
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A Hong Kong company is only taxed on profits that are derived from trade or business conducted in Hong Kong. Aside from the profit tax, there is a personal income tax and property tax in Hong Kong. No limitation is placed on the amount of authorized or issued share capital. However a 0.1% duty is payable to the government on the authorized capital.
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| CORPORATE REQUIREMENTS |
A company registered in Hong Kong must have a registered agent. P.O. Boxes are not permitted. Company names must end in "Limited" and posses Article of Association, which outline governing regulations of the entity and procedures for shareholders to abide.
Any company that is incorporated outside of Hong Kong and establishes business there has only one month to register the following documents with the Registrar of Companies. Upon registration the company is required to maintain business registration as an incorporated entity in Hong Kong.
- A certified copy of its Articles of Association and certificate of incorporation
- A list of all directors and secretary showing full names and aliases, addresses, issuing country of passport for each person
- The principal place of business address and incorporation, the registered office established
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