Company Formation Hong Kong

GMG professionals help you to register your offshore in one of 56 countries. With their featured services of offshore Company Formation Hong Kong and company registration in China, you can get your company registered easily.

An ‘Offshore’ company is a company that is incorporated in a jurisdiction other than the jurisdiction in which the company ordinary conducts business. Offshore incorporation has many legal advantages, including: tax savings, asset protection, anonymity, and global investing opportunities. This memo is intended to serve as an introduction to some of the offshore candidates and to assist you in deciding which jurisdiction is best for you. Detailed below is a comparison of the various jurisdictions with a focus on the following factors: Corporate Taxation, Withholding Tax, Transfer Pricing Rules, Personal Taxation, Value Added Tax (VAT), Other Corporate Taxes, Inheritance Tax, Administrative Requirements, and TIEA Agreements & Tax Treaties.

Belize

• Belize is bordered by Mexico, Guatemala and the Caribbean Sea.
• Currency: Belize Dollar (BZ)
• Only country in Central America where English is the official language.
• Free Zone provides facilities for manufacturing, warehousing and other business activities.
• Goods entering Free Zone are exempt from import & export duties.
• The Free Zone also provides for an exemption from business tax, income tax, and any new corporate tax levied by the Belize government during the first ten years of operation.
• Dividends paid by a company in the Free Zone will be exempt from tax for 25 years.

British Virgin Islands (BVI)

• A Dependent Territory of the UK located in the Caribbean.
• Currency: US dollar (USD)
• Affordable
• Has had reasonable success combating money-laundering, and maintains a good reputation.
• Government does not control BVI corporate activities.
• Can be managed from anywhere in the world.
• No limitation on a company’s lawful activities.

Cook Islands

• Polynesian islands located in the heart of the South Pacific.
• Currency: New Zealand Dollar (NZD)
• One of the first offshore jurisdictions.
• Still a popular jurisdiction for offshore trusts and asset protection.

Dubai (UAE)

• Dubai is a city in the United Arab Emirates (UAE), located along the Arabian Gulf Coast.
• Currency: UAE dirham (AED)
• “No tax” emirate: enormous oil revenues mean that Dubai’s government does not need to raise income through direct taxation.
• Fast growing economy, working towards diversifying away from oil.
• World Bank identifies the UAE as one of the least cumbersome countries in which to set up a new business.
• Emirate government working to improve commercial transparency and introduce dynamic regulations aimed at encouraging the formation of small and medium enterprises.
• Free zones have been established as a way of attracting more foreign investment. Free zones adhere to unique laws regarding ownership, taxation and labor.
• Unlike businesses in the rest of Dubai, which require at least 51% ownership by a UAE national, free zone businesses can have 100% foreign ownership.
• Legally, companies based in free zones are considered “offshore” so they are unable to trade within the city without an agent or distributor.
• Free zones also tend to assist new businesses in the set up process.
• Dubai Strategic Plan 2015: business-friendly plan that focuses urban growth, technological advancement, infrastructure improvement, health and safety, education, and judicial excellence.

Gibraltar

• Gibraltar is UK territory located on the Iberian Peninsula at the entrance of the Mediterranean Sea.
• Currency: Gibraltar Pound (GIP)
• Easy access to regional markets in Mediterranean Europe and North Africa
• Legislation in place to encourage High Net Worth Individuals (HNWIs) and High Executives Possessing Specialist Skills (HEPSS) to establish tax residence in Gibraltar—opportunity to have tax payable on their income restricted to a capped amount.
• Relatively high internal income taxes, but low-tax regimes for offshore companies.
• Incentives include a start up rate of 10% applicable to any new business.
• EU membership allows for access to EU financial services’ market.
• Smaller than many of the other jurisdictions, but also one of the cheapest.
• Full member of European Community.
• Legal system based on English Common Law and reputable financial center.
• 300 days of sunshine and high quality of life.

Hong Kong

• A city-state located to the south of China with coastal access to the Pearl River Delta and South China Sea
• Currency: Hong Kong Dollar (HKD)
• Special Administrative Region (SAR) of the People’s Republic of China (PRC)—under principle of “one country, two systems”, the Chinese government agreed to allow Hong Kong’s capitalist system to remain unchanged until 2047. The government also agreed that it would not interfere with Hong Kong’s ability to maintain an independent taxation system.
• Ideal location for companies engaged in financial services—absence of withholding tax, interest tax, capital gains tax and VAT.
• Boasts one of the busiest ports in the world.
• Reliable and efficient financial center (3rd largest in the world after New York and London)
• Hong Kong signed the Closer Economic Partnership Arrangement (CEPA) with PRC, making it a natural conduit between the West and Mainland China.
• Has a sound legal system based on English Common Law and laissez faire non interventionist attitude on the part of government.
• Ranks as one of the freest economies in the world—based on free and open trade.
• Not perceived as a tax haven.

Isle of Man

• Located in the Irish Sea, the Isle of Man is a self-governing British Crown Dependency.
• Currency: Manx Pound or British Pound (GBP)
• English Common Law system
• Well developed financial infrastructure: strong banking, investment, and insurance sectors
• Great location for holding and trading companies doing business in the EU.

Labuan

• Labuan is an island off the northwest coast of Borneo, and is part of Malaysia.
• Currency: Malaysian Ringgit (RM)
• “Malaysian Satay” option available as described below—see section on Malaysia.
• Labuan offshore companies can take advantage of Malaysia’s double tax treaty network (over 60 partner countries)

Macao

• Located south of China, Macao lies on the western side of the Pearl River Delta.
• Currency: Pataca (MOP)
• Along with Hong Kong, Macao is a Special Administrative Region (SAR)
• An agreement similar to the CEPA agreement between Hong Kong and Mainland China was signed between the PRC and Macao.

Malaysia

• Located in Southeast Asia, Malaysia is divided into two regions, Peninsular Malaysia and Malaysian Borneo, and shares a maritime border Singapore.
• Currency: Malaysian Ringgit (MYR)
• The “Malaysian Satay” option: this corporate structure involves the ownership of a foreign Malaysian subsidiary by a resident Malaysian holding company which in turn is 100% wholly owned by an offshore Labuan parent corporation.

Notes on alternative structures:

• No Labuan Parent Company: If the foreign subsidiary was owned by a resident Malaysian corporation with no offshore Labuan connection, the remittances flowing from the resident Malaysian corporation would be subject to 10%-15% withholding taxes on: capital gains, royalties, and interest income.
• No Resident Malaysia Holding Company: If the foreign subsidiary was owned directly by the Labuan Parent Company (no Resident Holding Company used), then withholding taxes of 25% would be levied on dividends, royalties, and interest. This is because Labuan, as an offshore territory, probably will not be considered part of Malaysia for double taxation treaty purposes. In other words, a Resident Malaysia Holding Company should be used to ensure the double tax treaty protection. The double tax treaty is the only way to reduce withholding taxes that flow from the foreign subsidiary.

Panama

• Panama occupies the southeastern end of the Isthmus forming the land bridge between North and South America.
• Currency: Panamanian Balboa (PAB)

Panama Foundation-Corporation “Combo”

Individuals looking for a powerful asset protection vehicle should consider the Panama Corporation-Foundation “Combo”:

Panama Foundation-Corporation “Combo”

Individuals looking for a powerful asset protection vehicle should consider the Panama Corporation-Foundation “Combo”:

Advantages of this structure:

• Panama foundation, by law, has no owner. This means it is nearly impossible for a judgment creditor to get money out of the foundation, because you, as an individual, do not legally own it.
• Foundations are generally perceived as being more respectable than a bearer share corporations.
• The foundation layer gives you advanced warning when someone is after your assets.
• So why do you need the Corporation?
• If you are only looking to safeguard current assets, then you may not need the Corporation.
• However, if you plan on doing business, a Corporation is required because a foundation cannot engage in “for profit” business activities.
• A foundation can earn passive income by investing in stocks, real estate and other businesses (i.e. your Panama Corporation)

Seychelles

• Seychelles is a tropical archipelago located near the equator.
• Currency: Seychelles Rupee (SCR)
• Its two main offshore industries are shipping and banking.
• Has signed a tax treaty with China.
• Existing International Trade Zone (SITZ) located on Mahe—Companies established in the Free Zone are generally exempt from tax.

Singapore

• A Southeast Asia city-state located on the tip of the Malay Peninsula.
• Currency: Singapore dollar (SGD)
• One of the world’s fastest growing banking centers in the world.
• Has one of the world’s largest ports.
• There are five free trade zones (FTZs) located at the Port of Singapore—no duty or taxes are payable on goods stored in an FTZ.
• Recently removed from OECD’s grey list.
• Strict banking secrecy laws that provide for severe penalties for the wrongful disclosure of bank clients’ financial information.

With over than 7 years experience, we helped hundreds of companies to successfully set up in China’s development zones.

Today, you can make this process online quick and easy – just visit our service page & pay 50% of total sum to start. After all documents will be prepared you’ll pay last 50%.

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