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offshore co

INTERSHORES I How To Register Offshore Company In Hong Kong In 6 Easy Steps

Given that Hong Kong has continuously topped the World Bank's Ease of Doing Business Index, a very common dilemma for foreign companies seeking to enter the Asian market would be the pros and cons of a Hong Kong offshore company. Understanding the steps to register offshore company in Hong Kong might thus help you to make your decision. Is choosing to register offshore company in Hong Kong right for you? 1. Offshore companies are companies that do not carry out business operations or management activities within their country of incorporation. Instead, they operate internationally and trade with customers worldwide or can sometimes be used as a holding company. This allows them to...
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HK CO 3

INTERSHORES I How To Keep Your Hong Kong Company in Good Standing

Setting up a company in Hong Kong is straightforward and can be completed within one day or a week. However in order to keep your Hong Kong company in good standing, you are required to meet 3 compulsory legal requirements. In the event you are unable to meet these requirements, the company may be struck off by the Hong Kong Companies Registry. Secure a local registered address Hong Kong Companies Registry requires every business, local or offshore, to have a local registered office address before it can be duly registered. The local registered address serves as an avenue for correspondence between you and the government authorities. All mails from the government will be sent to...
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sing annual requirement

INTERSHORES I Statutory Compliance For Singapore Companies

The corporate governance bodies in Singapore are Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS). We would like to outline the annual filing requirements for a Singapore private limited company: Submission of Annual Return All Singapore companies are required to file an Annual Return with ACRA within one month of the Annual General Meeting (AGM). The AR consists of statutory information of the company AND its financial accounts reports. As a general guideline, AGM has to be held within 18 months of the incorporation and subsequent AGMs will be held once every calendar year but no more than 15 months. Financial Year...
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tax hk china

INTERSHORES I Tax Treatment In China and In Hong Kong

The key tax rates in China and Hong Kong, including the corporate income tax, the withholding tax and individual income tax rate will be outlined below with tax treatment of these items. China’s Standard Tax Rates China’s Standard Tax Rate In % Corporate Income Tax Value-Added Tax Withholding Tax Individual Income Tax Dividend Interest Royalty Min. Max. 25% 3/6/11/17 10 10 10 3 45 Corporate Income Tax 1. Rate: 25 % 2. Residency: Companies are legal residents if they are established under PRC law, or if a foreign company’s place of...
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apostill

INTERSHORES I Notarization Or Apostilled Or Legalization?

You may sometimes need to have the corporate documents of your Hong Kong company used outside Hong Kong. Examples are: 1. opening an overseas corporate bank account. 2. registering an overseas branch office. 3. entering into an agreement with an overseas’ partner. 4. registering your Hong Kong company as a WOFE (Wholly Owned Foreign Enterprise) in China. All methods of documents authentication - Notarization, apostille, or legalization may apply. What are they? Notarization Only a notary public can notarize a document. A notary can certify a legal document as a copy of the original, authenticate a signature or certify by witnessing a person's...
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whi-singapore

INTERSHORES I Establishing A Holding Company In Singapore

Holding companies in Singapore are typically registered as private limited companies (or “subsidiaries”), and this company structure is by far the preferred business arrangement for small and medium-sized foreign companies operating in the city-state. While navigating business establishment procedures in Singapore is relatively simple, investors should seek the advice of a professional services firm to consider the legal and tax implications that inevitably accompany the establishment of a local business presence. Self-incorporation without the assistance of a professional services firm is only permitted if all directors, the company secretary, and initial shareholders are...
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BO1

INTERSHORES I U.K. Register Of Beneficial Owners of Overseas Companies

The U.K. government has in 2021 introduced the world’s first public Register of Beneficial Owners of Overseas Companies and Legal Entities bodies that own UK property or participate in UK government procurement. The register is to be administered by Companies House and will adopt the same definition of ownership control that governs inclusion in the register of persons with significant control (PSCs) over UK companies i.e. individuals who: 1. hold more than 25% of the shares or voting rights of the company; 2. have the right to appoint a majority of directors of the company or have the right to exercise or actually exercise significant influence or control over the...
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BOA

INTERSHORES I On-boading of a Licensed BVI Bank

The first cross-border digital bank which accepts clients from multi-jurisdictions after KYC checks is officially launched on the reception night of the BVI Asia Conference – Roadshow Hong Kong organized by BVI Finance on 5 June 2018. The theme of the Conference was “Asia's International Partner in the Digital Era”. The launch of this BVI licensed bank is to provide a practical solution for companies or SMEs to secure banking services via innovative technology aiming to simplify customers experience than the traditional onshore banks. Its motto are “Smarter Technology, Easier Banking”, “Changing the Way People Bank”. It will deliver more...
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Lab uan

INTERSHORES I Labuan Quick Fix

What makes Labuan different from other jurisdictions for Asian investors? Labuan is part of Malaysia and is closer to Asian countries than many other jurisdictions. It has tax treaties with China, Hong Kong and Taiwan. What types of companies can be incorporated? The preferred company type is a company limited by shares, the Labuan Company. Protected Cell Companies, Limited Partnerships, Foundations and Trusts are also provided for. What are the basic requirements for company formation in Labuan? A company must have at least one(1) shareholder and at least one(1) director. Both of these may be resident outside of Labuan and Malaysia, and both can be corporate entities. There...
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acceptable certifier

INTERSHORES I List of Acceptable Certifiers

To comply with local Anti-Money Laundering legislation, bank, financial institution, legal practice and corporate / professional service practice in the globe sometimes ask you to provide certified true copies of your identity and address proof or your corporate documents at company incorporation stage, account opening or annual customer update. Who are the most commonly acceptable certifiers? Below capacity/organization in FATF countries are usually regarded as acceptable certifiers: 1. A bank manager who is eligible to certify documents for the bank 2. A Notary Public 3. A law firm registered with the Law Society of the country 4. A practicing...
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BVI 5

INTERSHORES I 6 Things To Know About BVI Holding Company

Located in the Caribbean Sea, the British Virgin Islands is a popular jurisdiction to set up offshore companies. This is because of the business-friendly and flexible government policies, high level of privacy and security, straightforward incorporation process, and more. What is a BVI holding company? Before you begin with the BVI company registration, you need to understand what a holding company is. A holding company is one that holds assets, equities, or investments of other business entities are earn dividends, capital gains, rent, or more from them. These businesses in the British Virgin Islands must comply with the BVI Business Companies Act of 2004. Approximately 85% of...
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aduit

INTERSHORES I Hong Kong : Checklist For Accounting, Audit and Taxation

Accounting, audit and tax are an evitable work that an entrepreneur has to handle as a corporate compliance. We have created a checklist to make business life easier. Decide Financial Year End It is a statutory requirement for a Hong Kong company to have the first audited accounts within 18 months from the incorporation date. It is common to have March, June, September and December. Once the financial year is decided, the same financial year end will carry on. Keep Operating Records In order to prepare accounting records, documents which include bank statements, contract, invoice, receipt, etc. have in an orderly fashion and be kept throughout the year. Prepare...
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