Hong Kong offshore company: pro and contra

The procedure for starting a business in Cyprus is declarative.

Published 2023-03-21, by ,

Hong Kong offshore company: pro and contra Aboriginal Times

Table of contents:

If you have fulfilled all the requirements of the legislation of Cyprus, you can safely engage in any legal activity with minimal oversight by the authorities. Owning your own business in Cyprus will give you the opportunity to work freely without restrictions with European countries and cooperate with almost all companies in the world.

Today, Hong Kong's ranking in organizing and doing business is higher than that of the United States and Japan. In terms of the number of billionaires living in one city, Hong Kong has become the world leader.

Opening a bank account in Hong Kong:

Opening a Hong Kong bank account for foreigners is not always easy; there is no guarantee that you will open one right away;

  • often require knowledge of Chinese, English languages;
  • You have to prove your solvency with documents;
  • If you have money in other banks, take a statement;
  • You need to translate the documents into Chinese or English, then have the documents apostilled.

Basic requirements

  • The company name must be in Chinese or English; both languages may be used separately in the name; but English letters and Chinese characters may not be used together in the name;
  • The name must have a Limited (Ltd) at the end;
  • A company must have a director, the director may be a legal person or a natural person older than 18 years;
  • The number of shareholders of a Ltd. company varies from 1 to 50. Local as well as foreign shareholders can own 100% of the shares;
  • An authorized secretary is required to register a company on behalf of a foreigner. If you decide to immigrate to do business in Hong Kong, you can do the company registration yourself. But you will need a business visa for that;
  • The legal address must necessarily be real in Hong Kong.

The success of your enterprise will largely depend in Hong Kong on how carefully you choose the legal form for your enterprise. Taxation, expansion and liquidation of the business, raising various forms of finance, and so on, will all depend on it. Analyze all the possible pros and cons that different types of businesses have.

In collaboration with https://offshorecompanyregister.com/hong-kong-offshore-company-formation/