| General |
| Type of Company |
Private Limited |
| Average timeframe to set up a new company |
8 working days |
| Average timeframe to activate shelf company |
1 day |
| Migration of domicile possible? |
No |
| Corporate Requirements |
| Standard authorised share capital |
HK$1 |
| Minimum paid up capital |
HK$1 |
| Bearer shares allowed? |
No |
| Minimum number of shareholders/members |
One |
| Minimum number of directors |
One |
| Corporate directors permitted? |
Yes |
| Local directors required? |
No |
| Local meeting required? |
No |
| Company secretary required? |
Yes |
| Taxation |
| Corporate tax rate |
17.5% |
| Ordinary tax base |
Hong Kong source income only |
| Withholding tax on dividends - tax rate |
None |
| Withholding tax on interest - tax rate |
None |
| Withholding tax on royalties - tax rate |
5.25% (when paid to non-resident recipients only) |
| Double taxation treaties |
China - On Corporate and Personal Income tax |
| Value Added Tax rate |
None |
| Disclosure and Reporting Requirements |
| Disclosure of beneficial owner |
Yes |
| Government register of directors |
Yes |
| Government register of shareholders/members |
Yes |
| Annual return |
Yes |
| Submission of accounts |
Yes |
| Audit required? |
Yes |
