Benefits of Owning an Offshore Company in Hong Kong
The focus of business people is to make money and avoid taxes. In this respect, they have found an allay in the private companies that allow you to form your new company as an offshore entity.
Get an offshore Hong Kong company today
This is possible in Hong Kong where you have several private companies that will help you change the identity of your company and allow you to operate as an offshore company from their offices in Hog Kong. You can begin operations of your business with a HK company registration almost within a day of applying for it.
Advantages of the offshore company
The first and most obvious advantage is that you do not have to pay the enormous taxes. The private offshore companies do not have to pay taxes on the earnings they get from their offshore branches. This amounts to huge savings in taxes. To do this, one must apply for registering your company with the Hong Kong private companies.
The private companies charge a flat fee for registration and another flat fee per year for maintenance. You can go to Hong Kong to register your company or you can pay an extra fee and get the registration done without going there. To know more about the company, they are an International Company Base Tax and Business Consulting firm operating from Hong Kong. They provide services in varied fields including insolvency management services, establishment and management trust fund, solve corporate secretarial issues, help with immigration issues and more. Most of the clients, over 95% of them, are from overseas and only 5% of the clients are local.
Highly qualified staff
The staff of this company have all the needed international certification including the CPA licence issued by the Hong Kong Institution of Certified Public Accountancy and FCCA issued by The Association of Chartered Certified Public Accountants. They know the intimate details of how to form Offshore companies in places such as Belize, Hong Kong, or Seychelles. They will help you get the HK company registration to help you begin your business as an offshore company.
Other than the tax benefits, the other major reason for operating as an offshore company is privacy. Offshore jurisdictions help prevent the Registrars from divulging information regarding the beneficiaries, directors, or shareholders to anyone. Thus, owners and shareholders can remain anonymous while transacting their business.Another reason the business owners prefer to do business in this way is for asset protection. Offshore jurisdictions are renowned for their asset protection laws. You can protect the company assets even better by linking them with the offshore banking facilities that are favourable.
Easy Reporting for offshore companies
The reporting becomes easier. Reason for this is that the onshore companies should file annual reports and accounts while the offshore companies do not need to do so. The compliance reporting of the offshore companies is much simpler and lesser. They only need to pay the local authorities a flat annual fee. This is almost insignificant compared to the enormous amount the onshore companies pay.
That being said, you can use the offshore companies in the form of intellectual property companies, holding companies, or as investment companies. You stand to get most benefit this way.