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Hong Kong
NEWS
  Hong Kong SFC reports record number of licensees on 17/08/2010
  Islamic US mutual funds flocking to Malaysia seeking returns on 16/08/2010
  New rulings to regulate short selling on SGX well received by market players on 11/08/2010
  Global financial centres after the crisis on 03/08/2010
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FACT FILE
Location Hong Kong.
Time Zone Greenwich Mean Time +8.
Population 7,000,000.
Capital Hong Kong.
Airport Chek Lap Kok.
Language Cantonese/English.
Currency HK$.
Dialing Code +852.
Centre's Expertise Everything.
Political System Elected legislature.
Legal System Common law.
Personal Income Tax 15% (max.).
Corporate Income Tax 16.5%.
Exchange Restrictions None.
Tax Treaties PRC, Belgium, Thailand, Luxembourg, Vietnam.
Permitted Currencies All.
Minimum Authorised Capital US$1.
Minimum Share Issues US$1.
Shelf Companies Yes.
Incorporation Time Scale Six working days.
Incorporation Fees US$220.
Annual Fees US$346.
Minimum Number One.
Residency Requirements Nil.
Corporate Directors Yes (for private groups).
Meetings/Frequency Nil.
Disclosure Listed companies only.
Bearer Shares No.
Minimum Number One.
Public Share Registry No.
Meetings Frequency One per year.
Annual Return Yes.
Audit Requirements Yes.
Registered Office In Hong Kong.
Domicile Issues Nil.
Company Naming Restrictions Nothing significant (eg, there are restrictions on “Bank” or “Trust”).
ARTICLES
Secured financings involving BVI and Cayman companies – taking and registering security
  Ashley Davies offers a practical guide to secured financing in Asia using a BVI or Cayman Islands company. (31/08/2010)
Asian Regulation in the Year of the Tiger: Pussy-Cat or Man-Eater?
  Alan Ewins considers how various jurisdictions within Asia have fared in the credit crunch, diagnosing a struggle “between the creation of internationally coherent markets and, in some places more than others, the protection of the home patch.” (02/03/2010)
Trust Planning in Asia
  Mary Ellen Hutton and Philip Munro delineate why they believe trust planning will become an increasingly important tool for wealth protection as Asian jurisdictions continue their ascent up the ranks of international finance centres. (02/03/2010)
Hong Kong: 2009 & 2010
  The compications of entering into a tax treaty network are many for Hong Kong - this article explains just why. (26/02/2010)
Recent developments in Hong Kong's exchange of tax information
  Steven Sieker and Pierre Chan explain how the Government of Hong Kong Special Administrative Region has moved to markedly improve transparency in information exchange between tax treaty partners without compromising confidentiality or privacy. (03/10/2009)
Exchange of information: Hong Kong's emergence in the global community
  Michael Olesnicky welcomes the new initiatives for the trust sector but argues that the jurisdiction still needs to move forward in the area of transparency (01/06/2009)
Hong Kong: Keeping focused
  Michael Olesnicky highlights the need for Hong Kong to introduce industry specific incentives if it is to maintain its status as the leading international finance centre in Asia (07/01/2008)
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