Change in Particulars of Hong Kong Company

Change in Particulars of Hong Kong Company

Change in Particulars of Hong Kong Company, we need to notify Companies Registry & Inland Revenue in specified forms like Change of Particulars of Secretary and Director, Change of Registered Office Address and so on.

[Hong Kong] Offshore Income claim

Offshore Income Claim

Hong Kong adopts territorial basis of taxation.
It means only business profits, employment income and property rental income arising in or derived from Hong Kong is taxable.

[Hong Kong] Hong Kong Profits Tax

Hong Kong profits tax

Hong Kong adopts territorial basis of taxation.
It means only business profits, arising in or derived from Hong Kong is taxable. It applies to both residents and non-residents of Hong Kong.

[Taiwan] Taiwan Taxation

Taiwan Taxation

– Corporate : income sourced from onshore and offshore are subject to income tax
– Individual : onshore income are subject to income tax ; offshore income are subject to alternative minimum income tax

[Hong Kong] Tax Avoidance in Hong Kong

Tax avoidance in Hong Kong

Taxpayers should submit their tax returns correctly and promptly to the Inland Revenue Department. Also, taxpayers may hire tax planners to help them avoid paying taxes according to Hong Kong tax law. While some practice is allowed, the law allows only to a certain extent.

[Hong Kong] Admission Scheme – General Employment Policy (GEP)

hong kong GEP

In general, unless a person has the right of abode or right to land in Hong Kong, he or she requires a visa or entry permit to work, study, establish or join in any business, take up residence or to stay in Hong Kong as a visitor longer than the allowed visa free period.

[Hong Kong] Requisite Documents for Hong Kong Private Limited Company Registration

According to the Laws of Hong Kong, each company must hire a company secretary who must reside in Hong Kong or a group that must have its registered office in Hong Kong. Of all the duties, the company secretary has to make certain that the company is in compliance with the statutory requirements of the Hong Kong Companies Ordinance and must maintain the statutory documents of the company.

[Hong Kong] Change of Company Secretary

change of company secretary

According to the Laws of Hong Kong, each company must hire a company secretary who must reside in Hong Kong or a group that must have its registered office in Hong Kong. Of all the duties, the company secretary has to make certain that the company is in compliance with the statutory requirements of the Hong Kong Companies Ordinance and must maintain the statutory documents of the company.

Registered address of Hong Kong Company

registered address of Hong Kong company

Under the Companies Ordinance, a company must have a registered office in Hong Kong to which all communication and notices may be addressed. It required that the registered address must be a physical address and cannot be a P.O. Box.

Annual General Meeting in Hong Kong

AGM in Hong Kong

Under the Companies Ordinance, a company must hold an AGM in respect of each financial year of the company, instead of in each calendar year.

Deregistration of a defunct solvent company in Hong Kong

[Hong Kong] Deregistration of a Defunct Solvent Company in Hong Kong

In fact, not every company can arrange deregistration. The company must be a defunct solvent company. Also, a director or member of the company, company limited by shares or company limited by guarantee can apply the deregistration.

Withholding Tax in Hong Kong

Withholding Tax in Hong Kong

There is no withholding tax on dividend distributions and interest payments from a Hong Kong entity.

On the other hand, specific types of payments are subject to withholding tax in Hong Kong. They are royalties paid to non-residents and fees paid to non-resident entertainers or sportsmen for their performances in Hong Kong. Next, I will provide further details about royalties paid to non-residents.

What is Closer Economic Partnership Arrangement (CEPA)?

CEPA

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is a free trade agreement concluded by the mainland and Hong Kong. Under CEPA, all products of Hong Kong origin, except for a few prohibited articles, can be imported into the mainland tariff-free.

CEPA Covers 4 Broad Areas

273 classes of Hong-Kong-made goods can be exported to the mainland free of tariff. For other categories of ‘made in Hong Kong’ products, the mainland also agreed to apply a zero-import tariff, upon applications by local manufacturers for other product codes maintained on China’s tariff system and meeting the CEPA rules of origin.

Certificate of Hong Kong Orgin – (CEPA CO)

Hong Kong CEPA

The Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA) is a free trade agreement concluded by the mainland and Hong Kong. Under CEPA, all products of Hong Kong origin, except for a few prohibited articles, can be imported into the mainland tariff‑free.

Singapore Subsidiary VS Singapore Branch

Singapore Subsidiary vs Singapore branch

A Singapore Subsidiary is a locally incorporated company which can be 100% owned by foreign individual and corporate. It is separate legal entity from its members and directors. Members have limited liability.

Introduction of Hong Kong Tax System : Profit Tax

Profits Tax

Hong Kong Tax System is simple and tax rate is low compared with most of Asian countries.

There are three direct taxes in Hong Kong. First is profits tax, i.e. corporate income tax. Second is salaries tax to individuals. Third is property tax chargeable on rental income from real estate.

Hong Kong Company Online Registration

Company Online Registration

To setup Hong Kong company, beside submit hard copies of registration documents to Companies Registry, which is so call traditional way; nowadays, we can register the HK company online as well.