Formation

Hong Kong Limited Company Formation - Background

 

Accolade Corporate Services Limited

 

Hong Kong Head Office
Rm 701-2, 7/F, Fu Fai Commercial Centre, 27 Hillier Street, Sheung Wan, Hong Kong.


Tel .+852 3521 2888
Fax +852 3521 2800
Email info@accoladegroup.com.hk

 

Please contact our professionals:

- Miss Hui .. . +852 3521 2886

- Miss Ip ...... +852 3521 2887

- Miss Yang . +852 3521 2889

 

China Hotline +86 13068485056

 

WhatsApp / WeChat:

+852 9635 6038

+852 6567 0408

+852 6728 7840

 

 

Office Hours﹕

Monday to Friday 09:00 - 18:00

Saturday, Sunday and Public Holiday Off

 

 

 

Background


For more than a century and a half, Hong Kong has been called "the Pearl of the Orient". In 1843, the British took possession of what was then a small fishing village and, over time, concerted it into a thriving metropolis. In Asia, Hong Kong became the bastion of open trade, free port and rule of law - all of which were lacking in the surrounding region. And then in July 1997, the colonial era ended; sovereignty reverted to China; Hong Kong became a Special Administrative Region (SAR) of the People's Republic, with its own mini-constitution, the Basic Law.


Role of the services industry in the economy

Hong Kong is a leading international financial centre and also the world's busiest container shipping port. Above all, Hong Kong has one of the most open, and extremely sophisticated economies in the world. With the exception of weapons, narcotics and other dangerous or prohibited drugs, trade is allowed to flow unimpeded; so are investments.

Hong Kong is also the favoured conduit for foreign direct investment (FDIs) into China. Hong Kong's financial specialists have developed great expertise in managing risks relating to investment into China. The ongoing implementation of the Closer Economic Partnership Agreement (CEPA) between China and Hong Kong also ensures that Hong Kong companies will continue to benefit from favourable business terms when investing in China.


Taxation system

Under local tax, there are only three direct taxes namely corporate, salary and property; and all are low, with profits tax at 16.5% and salaries and rental income tax at 15%. Only income generated from sources within Hong Kong is liable to taxation. In addition to the low tax regime, Hong Kong has striven hard to ensure that it is not perceived as a tax haven or money laundering centre. No wonder it is also absent from the black lists of most countries, when it comes to financial affairs.

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