One-Day Hong Kong Incorporation
Zetland is now providing a One-Day Incorporation Service for Hong Kong companies. Incorporating a Hong Kong company with Zetland is now even faster and easier than before. Through the electronic filing system Zetland can incorporate a Hong Kong company within 24 hours, compared to 3-5 working days for a standard paper incorporation.
In the first half of the year the number of newly incorporated companies in Hong Kong grew by nearly 10% over the second half of last year. By the end of July, the Companies Registry recorded over 100,000 new incorporations since the beginning of the year.
It is of no surprise that Hong Kong companies become more popular than ever as a jurisdiction and corporate vehicle for international businesses. Hong Kong Companies have proven to be effective vehicles for investment or group holding, international trade and services due to its advantageous business environment: Hong Kong has a sound legal system based on the British Common Law with well established bank secrecy rules, a stable political system, moderate but reliable economic growth (GDP Q2/2013 +4%), one of the world’s biggest banking and financial market and a simple and efficient low tax system.
Thanks to its favourable economic situation and positive growth over the past years in which other economies struggled, the Financial Secretary announced in the 2013 Budget earlier this year further incentives to local companies, such as a 75% tax rebate of up to HK$10,000 and the waiving of the Business Registration Fee (the Business Registration Certificate comprises of a fee and levy). In addition, the Labour Department has announced that with effect from 19th July the levy is being reduced as well. The levy of the annual Business Registration Certificate is reduced from HK$450 to HK$250.
In order to stay ahead of its completion of other Asian and international offshore financial centres, Hong Kong has further expanded its Double Taxation Treaty network counting now 29 bilateral agreements: