Hong Kong

Population:

6.9 million

Currency:

HK dollar linked to the US dollar at HK$7.8 to US$1

Language:

Cantonese and English, with increasingly widespread use of Mandarin

Time zone:

GMT plus 8

Centre's expertise:

A major international financial centre, not an offshore tax haven

General requirements

Type of entity

Limited company

Type of law

Common Law

Shelf company available

Yes

Time to establish a new company

1 to 2 weeks

Taxation

17.5% profits tax only, no capital gains tax

Double taxation agreements

Treaty with Belgium; some provisions with mainland China; some shipping and aviation treaties

Forex restrictions

None

Language & name restrictions on companies

None

Share capital

Permitted currencies

Any

Minimum paid up

HK$1

Usual authorized capital

HK$1,000

Directors and personnel

Minimum number

1

Local required

None

Company secretary & qualifications

Yes, no qualifications specified

Shareholders and AGM

Minimum number

Disclosure requirements

Not under trust arrangement

Publicly accessible records

Yes

Obligations for annual meetings

Yes

Location of AGM

Anywhere

Accounts

Requirement to prepare

Yes

Audit requirements

Yes

Account filing obligations

No

Publicly accessible accounts

No

Other

Requirements to file annual return

Yes

Change in domicile permitted

No

Need to registered office

Yes

Number of companies set up in last year

15,500

Total number of companies on register

535,886