If you are planning to start business operation in Hong Kong then the word offshore company itself will strike your mind and make you think about it. Questions will start pouring in like what is offshore company? How can I set up a company in Hong Kong? What are the benefits that I can enjoy by starting an offshore company? There can be more such question and answer to all will help you decide and take necessary steps.
Offshore companies are incorporated outside the jurisdiction of their primary operations but they stand at the same level like other with it. These companies usually fall in low tax bracket and the rules are very simple. Having an offshore company means managing overseas fund is easy. Offshore company incorporation in Hong Kong is easy but once registered the companies cannot engage in business with the jurisdiction, especially one which are incorporated.
Setting up offshore company is hassle free and there are several advantages that you can enjoy. The legal framework for these companies are very simple, thus following them is easy. You can add or take off capital from the company anytime you want. Company means lot of accounting which needs time but offshore companies follow very simple accounting system.
For establishing offshore company you can go for a shelf company. Shelf Company means one which is already registered. If you go to the registrar office you will get a list of such companies. You can pick anyone that suits your need. If you are still confused and thinking about disadvantages then do not worry. Usually the companies available in the shelf list are legally established and incorporated at an earlier date but due to some reasons could not carry on business activities. When business owners drawback their ownership the companies are put in shelf list for re-sale.
For offshore company incorporation you will need an agent. The agent can be appointed by any of the director. The agent appointed will enjoy all the rights and power of a director. The agent will just not take any decision when it comes to amendment of Memorandum of articles. The agent must be a local and this is an important point when it comes to offshore company incorporation. The agent will have all the information which includes the details of registered director and other members. All important documents will be stored in the agent’s office which will be used as local address for registration.
If you are new then things might sound complicated. There are many companies offering registration service in Hong Kong. You can spend time, browse online and start looking for such companies. You must also educate yourself and collect information about company registration process in Hong Kong. Adequate information will help you pick the right company from the many available in the search result on web. Before selecting a company check their past experience. Their experience in the field will help you understand and decide if you are in the right track. Companies also charge fee against the service that they offer. Make sure to know about the charges in details and then select the best one for offshore company incorporation.