Fact File

Fact File Supplied By:

Timothy Loh LLP

Location

Hong Kong

Time Zone

GMT +8

Population

7.52 million (as of mid-2019)

Capital

Hong Kong

Airport(s)

Chek Lap Kok

Language

Cantonese/ English

Currency

HK$

Political System

Elected Legislature

Dialing Code

+852

Legal System

Common law

Centre's Expertise

All areas

Personal income tax

15%

Corporate income tax

16.5%

Exchange

None

Tax Treaties

Hong Kong has concluded a total of seven Tax Information Exchange Agreements. For details, please visit the Inland Revenue Department’s website at www.ird.gov.hk

Permitted Currencies

All

Minimum authorised capital

No restriction

Minimum share issue

No Restriction

Shelf companies

Yes

Timescale for new entities

Approximately four working days (for paper submission) or 1 hour (for e-submission).

Incorporation fees

US $219

Annual fees

There are fees for business registration and filing returns. For business registration fees, please refer to https://www.ird.gov.hk/eng/pdf/brfee_table.pdf. For fees for filing returns, please refer to https://www.cr.gov.hk/en/faq/local-company/annual-return.htm.

Minimum number

one

Residency requirements

None

Corporate directors

Yes, for private companies which (i) are not members of a group of companies of which a Hong Kong listed company is a member, and (ii) have at least one other director who is a natural person.

Meetings/ frequency

Nil.

Disclosure

Yes

Bearer Shares

No

Minimum number

One

Public share registry

Yes

Meetings/ frequency

Annual general meeting required unless exempted or dispensed with.

Annual Return

Yes

Audit Requirements

Yes

Registered office

In Hong Kong

Domicile issues

Nil.

Company naming restrictions

Please refer to https://www.cr.gov.hk/en/faq/local-company/company-name.htm