Set up an Offshore Company Outside Hong Kong and Enjoy Business Convenience Worldwide

In the Hong Kong business environment, offshore companies refer to business entities established outside Hong Kong. Common registration locations include the British Virgin Islands (BVI), Cayman Islands (Cayman Islands), Panama, Bahamas, and Bermuda.

There are numerous benefits to establishing an offshore company. Some common reasons include legal tax avoidance, protection of the privacy of shareholders and directors, safeguarding trade secrets, enjoying relaxed regulations, and the convenience of financing and listing. If you are considering setting up an offshore company, please contact One Success to learn more about the most reliable and efficient solution.

Benefits of Setting up an Offshore Company

The laws and taxation systems that offshore companies comply with vary according to the place of registration. Generally speaking, international offshore company registration hotspots often have the following characteristics:

Secure Privacy Protection

The commercial laws of some countries allow companies not to disclose the identity of shareholders and directors, shareholdings and revenue status. It is almost impossible for the public to learn more about the companies businesses in details.

Free Capital Movement

Popular registration locations for offshore companies generally do not have foreign exchange controls. Companies can freely mobilize funds so many people use offshore companies for international financing.

Legitimate Tax Avoidance

In some jurisdictions, the tax system is relatively simple. Business owners may not even have to declare and pay taxes on overseas commercial activities. They may only need to pay a low tax rate, which allows companies to avoid tax legally by registering an offshore company.

Easy Registration and Management

In many cases, offshore companies have fewer or no restrictions on the nationality, number, and age of shareholders and directors. Companies may not be obligated to hold annual general meetings and prepare financial statements, making business management much more flexible.

Favourable to Business Expansion

As a financial center in Asia, many Hong Kong companies have established offshore branches to expand locally and internationally. For instance, some people use offshore companies as holding companies to control and control the shares of subsidiaries or for the development of international business and overseas financing.

Excellent Support for Non-Citizens

Foreigners find it easy to establish limited companies, open bank accounts, and complete all the necessary procedures online in certain countries. Similarly, Hong Kong residents have the option to set up local companies to expand their business.

FAQs About Opening an Offshore Company

Get Ready to Open an Offshore Company?

Is there a need to file tax returns for Hong Kong business when running an offshore company?

As long as a company operates in Hong Kong and generates profits, it must obtain a business registration certificate and file tax returns in Hong Kong, regardless of where it is established. Therefore, those who are principally engaging in Hong Kong business should set up a Hong Kong limited company.

Can offshore companies open Hong Kong bank accounts?

Yes, banks in Hong Kong accept overseas business customers to open accounts. And of course, banks also have to meet the bank’s account opening requirements and submit sufficient supporting documents.

My company does not generate any profits in Hong Kong. Should I register an offshore company?

A person who operates a business entirely overseas can either set up an offshore company or apply to the Hong Kong Inland Revenue Department to exempt foreign profits from taxation after setting up a Hong Kong limited company.

Will the identity of shareholders and directors of offshore companies be publicly accessible?

This depends on the laws and regulations of the place where the company is registered. Most popular offshore company registration locations allow the identity of shareholders and directors of offshore companies to be kept confidential.

Can an offshore company use a Chinese company name?

This depends on the place of registration. Some countries, such as the British Virgin Islands and Samoa, allow using Chinese to register company names.

Contact One Success

One Success Group Limited

Unit B, 14/F, Richwealth Industrial Building, 77-87 Wang Lung Street, Tsuen Wan, New Territories, Hong Kong

(852) 3521 0192

(852) 9750 3072

(852) 3914 9017

info@onesuccess.com.hk

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