Hong is a former British colony, in southeast China, between Canton and Macao. Hong Kong is densely populated, with more than 7 million inhabitants and its huge airport is considered to be one of the most visited in the world. Since July 1, 1997 Hong Kong has been a special administrative region (SAR) of China. Under the principle of one “country, two systems” the Chinese government has agreed to let the capitalist system of Hong Kong to remain unaltered until 2047. The SAR maintains the common law system, although the regulations taxes on businesses and financial services follow the western model. At present, Hong Kong is the third largest financial center in the world (surpassed only by New York and London), the 9th highest economy in the world and the 11th highest exporter of services. It’s external activities in the banking sector take the fifth position worldwide. The territory hosts the highest number of representatives from banks in the world, including 80 of the 100 most important institutions; in addition, it is the headquarters of more 1300 multinational companies. Hong isn’t an offshore jurisdiction as such, but it does have a minimum tax system. There are no taxes on capital gain; you don’t have to pay the part of taxes on work that your employer has already paid directly to the government, nor sales tax; VAT doesn’t exist and there are no taxes on income accumulated from companies that retain the above mentioned taxes, instead of distributing them. People don’t pay taxes on income from investments capital earnings, whether or not they are residents.
Forming Companies in Hong Kong
Hong Kong Monetary Authority (HKMA)
Two International Finance Centre
8 Finance Street
Telephone: (852) 2878 8196
Fax: (852) 2878 8197
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We are a Hong Kong-based full-service commercial bank that offers a broad spectrum of financial services spanning wealth management, personal banking, wholesale banking as well as global markets and treasury solutions. We aspire to be the “China Bank of ...
Established on 1 October 2001, Bank of China (Hong Kong) Limited (referred to as Bank of China (Hong Kong) or BOCHK) is a locally incorporated licensed bank. It has combined the businesses of ten* of the twelve banks in Hong Kong originally belonging to ...
Incorporated in November 1950, Shanghai Commercial Bank Ltd. is one of the most well known local Chinese banks in Hong Kong. At present, there are more than 40 local and overseas branches. The Bank has always been pursuing the motto of its founder, Mr. K ...
The Dah Sing Group is a leading financial services group in Hong Kong, active in providing banking, insurance, financial and other related services in Hong Kong, Macau and the People's Republic of China. The Dah Sing Group consists of two listed companies ...
Chong Hing Bank Limited ("CHB") (formerly known as 'Liu Chong Hing Bank Limited') was founded in 1948 and was spun off from Liu Chong Hing Investment Limited (Hong Kong Stock Exchange's Stock Code: 00194) to become a public listed company (Hong Kong Stock ...
Hang Seng Bank is a world-class financial institution and one of Hong Kong’s largest listed companies in terms of market capitalisation. In keeping with our name, which means "ever-growing" in Chinese, we are growing alongside our customers. Our vision i ...
Chiyu Banking Corporation Limited ("Chiyu") was founded by the patriot Mr. Chen Jiageng and is the 39th licensed bank in Hong Kong. It has been registered as a licensed bank since 1947, and has been an approved member of the Hong Kong Association of Banks ...
BEA has operated continuously in Mainland China since the establishment of its first mainland branch in Shanghai in 1920. The Bank's China operations have steadily grown over the past 30 years of economic reform and today, BEA operates one of the most ext ...
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and ...
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