Tag: Formation

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.

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.

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.

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.

Employer must complete the return and lodge with Inland Revenue Department (“IRD”) within 1 month from the issue date of the return even if no employee was hired during the year or the business has not commenced.

Hong Kong Company Maintenance – Major government Annual Reporting
– Annual Return
– Business Registration
– PTR & ER

Singapore has established a financial centre of international repute and offers a broad range of financial services and retained its position as the largest foreign exchange centre in the region.

We have variety types of business organization that may be registered in Singapore. Let’s take a look at the different business structure types in Singapore:
1. Sole Proprietorship
2. Partnerships
3. Local Companies, it is the most common type of company in Singapore
4. Foreign Company as a Branch in Singapore
5. The last type of company will be Non-Trading Representative Office

As to compare the local company and foreign branch: Local Company will be suitable for overseas investor to explore business opportunity in Singapore.

The company should complete the (1) Annual Return filing; (2) the renewal of Business Registration Certificate; (3) Employment Return filing, and (4) profit tax return tiling annually.

There are several reasons for investors turn to Singapore for establishing their operations and one of the determinant is Singapore’s tax regime – well-known for its attractive corporate and personal tax rates, tax relief measures, non-taxable capital gains, one tier tax system and extensive double tax treaties.

There are some significant skills and useful tips to know more about How to setup Hong Kong Bank Account . As one of financial centers in the world, Hong Kong has very effective and sufficient infrastructure for doing business and making investment.

Type of Hong Kong Companies
– Sole Proprietorship
– Partnership
– Private Company Limited

Regarding the significant controllers register, On 1 March 2018, the Companies Registry has commenced Amendment Ordinance and introduces new requirements on the keeping of significant controllers registers by companies.

Major Government Reports – Hong Kong corporation
– Compnay Annual Report
– Business Registration Certificate Renewal
– Corporate Income Tax Report
– Report of Employee Registration

Why Hong Kong?
– Simplify Business Set-up for Foreign Business owners
– Premier Strategic Location
– Clean Governance
– Gateway to China

let’s find the procedure of set up a Taiwan company!
1) Limited Company
2) Branch
3) Rep Office

Annual Return Submission
– Within 42 days from the Anniversary date of every year
– Within 42 days – HKD 105 (waived fee from 1 Oct 2020 to 30 Sep 2022, the fee waiver will not apply to late delivery of annual returns)