Great News for HK Company!

Hong Kong Tax Bureau released Gazettal of Rating (Exemption) Order 2020 and Revenue (Reduction of Business Registration Fees and Branch Registration Fees) Order 2020 on 4th March.

Hong Kong will keep reducing the 2000HKD company registration fee for one more year !!

1.The Budget has proposed to waive the 2000HKD business registration fees and branch registration fees for 2020-21 to reduce the operating cost of business amidst the unfavourable economic circumstances. The proposed waiver will benefit 1.5 million business operators, with revenue forgone of about $3 billion.

2.The 2020-21 Budget has proposed to waive rates for four quarters of 2020-21.

The two Orders seek to implement one-off rates concession and waiver of business registration fees proposed in the 2020-21 Budget given the current economic situation.

(Hong Kong Tax Bureau: Inland Revenue Department Building)

Q: What are the benefits for registering a Hong Kong company?

1. You have more options on company names.

2. There is no foreign exchange control compare with mainland China, and capital and profits are free to move in and out without restrictions.

3. World wild bank accounts can be opened using Hong Kong company. 

4. Hong Kong has a low tax rate. If you are not doing actual business in Hong Kong, you can be exempted from any tax.

5. You don’t need an actual office, just need to arrange secretary services for the company.

Q: How easy to register a Hong Kong company?

1. Passport or identification

2. Proof of address (recent 3 months)

3. A name for the company

With our special channel, get your Hong Kong company register in 3 days !

Source: https://www.ird.gov.hk/eng/ppr/archives/20030402.htm

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