Hong Kong corporate formation is one of the business offerings offered by Beda. There are several advantages to having an offshore company incorporated in this city. As many as 80 percent of the world’s middle class is said to be residing in Asia, and numerous entrepreneurs from across the globe are interested in living in this continent, in experiencing first-hand the rich culture and the modern lifestyle of Asia.
Hong Kong corporate formation is useful for setting up an offshore bank account. You can deposit your money into your offshore account without having to worry about taxes on the earnings. There is also no need for an accountant to be hired. It is considered as a form of tax deflection, so as not to pay taxes on the income earned in foreign countries.
Having an offshore company incorporated in Hong Kong is advantageous for you, as it enables you to gain access to a wide array of tax benefits. The following are some of them:
- A Hong Kong offshore company is not subject to local income tax, corporate tax, and property tax. It is even exempt from value-added tax, inheritance tax, import duties, as well as any other taxes which apply to companies operating within the country. It is also beneficial when it comes to investing in a foreign country. As most of the international banks have their branches in this city, a corporate formation in this city also allows you to open an offshore bank account within a short time.
- Setting up an offshore company in Hong Kong does not cost you a lot. For this reason, more people are opting to set up their company here as compared to their domestic counterparts.
- When setting up an offshore company in Hong Kong, the jurisdiction that you are incorporating in will determine the type of incorporation document that you need to prepare. The document will help establish the tax regime, registration fees, annual reports, and other conditions that apply to your offshore. Most people prefer to register their company in the Hong Kong unique administrative region where all these documents are available.
- If you are looking to incorporate your company in a foreign country, you can look forward to offshore company incorporation in Hong Kong to help you out. It is also advantageous because you will be able to benefit from low rates of tax, less paperwork, and flexible terms. If you need to establish a business in a country other than Hong Kong, you should look forward to other places around the world like India and Singapore.
- This area is not limited to conducting business transactions but is also very conducive to conducting other business transactions with other businesses. The area is also known to provide valuable business opportunities to multinational corporations. You will be surprised by the number of companies, as well as other businesses that are open for business in this region. The Hong Kong Business Bureau provides you with a lot of reliable information as it keeps a watchful eye on business opportunities and other issues.
- You can also set up an offshore company in Hong Kong if you are a non-domiciled resident of the city. It will allow you to be treated as a Hong Kong resident even if you are not domiciled in the city. It will enable you to use the same tax and other benefits that are provided to you as a domiciled citizen.
- If you are looking to incorporate a company in this location, you can also take advantage of Hong Kong company formation. Service providers will take care of all the paperwork, including all the tax obligations for you.
There are plenty of companies offering company formation and registration services all over the world. Before you select the one that you want to deal with, it is advisable to check out their records and credentials and conduct thorough research on the company’s background before you sign any contract.