• Location: Situated in southern China, about 140km south east of Guangzhou
• Population: About 7 million
• Languages: Both English and Chinese are the official languages with Cantonese as the most commonly spoken language. Mandarin has become another key spoken language since the handover in 1997
• Legal System: English Common Law
• Currency: Hong Kong dollar (approx. USD 1 : HKD 7.8)
• Exchange Control: None
• Economy: Hong Kong is a high ranking international financial centre and is one of the most open, externally orientated economies in the world. The economy of Hong Kong is widely acknowledged as the most economically free in the world
• Time Zone: GMT +8
• Major Banks: HSBC, Standard Chartered Bank, CitiBank
• Principal Corporate Legislation: Companies Ordinance (Cap. 32)

Introduction

Hong Kong became a Special Administrative Region (SAR) of the People’s Republic of China on July 1, 1997, after 156 years of British colonial rule. Hong Kong has a small and efficient government structure. Its policy of a low and simple taxation structure allows maximum room for business initiatives and innovation. The HKSAR Government is well known for its efficiency, transparency and fairness.

Hong Kong’s economy is considered a model of capitalism for its devotion to free trade, low taxes and government non-intervention. Hong Kong is the world’s most liberal economy and is a major international financial centre. Hong Kong is currently the world’s 11th-largest trading entity and one of the world’s largest banking centres.

Hong Kong promotes itself as “Asia World City” and has a reliable legal system, a well established infrastructure and first -class professional support catering to the needs of the financial business sector.

Features and Benefits

• Well established English common law system with simple and easy-to-follow statutory requirements 
• Official Chinese company names and M&As are allowed 
• Hong Kong companies are subject to taxation on the source of income derived in Hong Kong only. Revenue generated from offshore business or activities is exempt from taxation 
• No tax on capital gains and dividends 
• No foreign exchange control or currency restrictions 
• Corporate directors and shareholders allowed 
• No requirements for disclosure of details of beneficial owners to the Companies Registry

# Statistics of Hong Kong Companies Registry