Onshore Company Incorporation

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HONG KONG

Background:

For more than a century and a half, Hong Kong has been called "the Pearl of the Orient". In 1843, the British took possession of what was then a small fishing village and, over time, concerted it into a thriving metropolis. In Asia, Hong Kong became the bastion of open trade, free port and rule of law - all of which were lacking in the surrounding region. And then in July 1997, the colonial era ended; sovereignty reverted to China; Hong Kong became a Special Administrative Region (SAR) of the People's Republic, with its own mini-constitution, the Basic Law.

Advantages of Hong Kong Company:

  1. Reduce Risk Exposure - As the investment in China is held by the Hong Kong incorporated company rather than by the foreign investor directly, there is no direct relationship between the foreign investor and the China investment. The foreign investor is therefore protected from any liabilities of the China investment as the Hong Kong incorporated company is a limited liability company, i.e. the foreign investors' liabilities is limited to the amount of share capital injected in the Hong Kong company and will not be personally liable.
  2. Exchange Control - There is no exchange control in Hong Kong. Funds can be freely remitted into and out of Hong Kong without any restriction.
  3. Low Tax Rate - Hong Kong has the lowest tax rates among all the places in the world. Currently, the profits tax rate is 16.5% for incorporated businesses. There is no capital gain tax. Dividend income is also not subject to profits tax. Therefore, by setting up a Hong Kong company, the foreign investor can avail of himself of the low tax rates in Hong Kong and minimize his tax liabilities from the China investment through proper tax planning.
  4. Banking System - Hong Kong has one of the best banking systems in the world. Almost every major international bank has its branch or representative office in Hong Kong. Foreign investors will therefore easily find a suitable banker to arrange for finance and credit facilities required. The well-established banking and communications systems in Hong Kong also facilitate international trading and funds transfers.
  5. Professionals - We have in Hong Kong a pool of professional expertise trained in all facets of international business: a skilled local workforce, which is well educated, computer-literate, productive, disciplined, and highly trainable; in addition to a foreign expertise attracted by rich business opportunities and an international, cosmopolitan orientation, with English as the business language.
  6. Proximity to Mainland Chinese market - CEPA opens up huge markets for Hong Kong goods and services, greatly enhancing the already close economic cooperation and integration between the Mainland and Hong Kong. In brief, the Mainland has applied zero import tariff for exports from Hong Kong meeting CEPA origin rules for goods and preferential market access for Hong Kong companies in 44 service sectors, including banking, logistics, legal, audiovisual, transport and mining.

 

CHINA

With its accession to the World Trade Organisation (WTO), China has strengthened its roles of manufacturing base and consumer market, thus attracting ever greater attention from overseas investors considering China company formation.

Nevertheless, China is still a place with both opportunities and risks in the eyes of most investors due to factors such as political and cultural backgrounds.

In order to facilitate our clients' needs to develop their business in China, Accolade established its office in Shenzhen and Beijing China years, which has brought us in-depth understanding of Chinese policies, economy, tax system and so on. Through our Chinese advisory group, we can provide practical and feasible proposals for investors regarding China company formation to minimize the future risks to our clients.

Our Services Include:

  • Foreign Investment Manufacturing Enterprise
  • Foreign Investment Trading Enterprise
  • Foreign Representative Office
  • Foreign Investment Consulting Enterprise
  • Company Registration in Shanghai Pilot Free Trade Zone
  • CEPA Foreign Invested Enterprise
  • Sino-Foreign Equity Joint Venture
  • Sino-Foreign Co-operative Joint Venture
  • Transformation of "Processing & Assembly" Companies

 

MACAU

Background:

Macau, also Macao is a commercial city with a very open economy, advantageous geographic location and complete infrastructure. Macau is also a free port without exchange controls, and funds can flow in and out freely; thus many investors have been attracted to invest in Macau.

There is no special restriction on Macau company incorporation, and Macau practices a low taxation rate system, with limited items of taxation. In recent years, favorable factors have been increasing in Macau, and economic environment has met sustained development, in particular, hospitality and tourism, which drove the rise of Macau's economy, and the international community showed increasing confidence concerning investment in Macau. At the same time, Macau is also one of the freest and most open regions for global trade and investment.

Advantages of Macau Company:

  1. Stable financial system
  2. Satisfactory trading environment
  3. Low tax rate: offshore companies can be exempt from profit tax, business tax, inheritance and gift taxes, property transfer tax, stamp tax and salaries tax for the first three years of employment (non-Macau residents)
  4. Potential offshore service centre
  5. Platform for economic and trading cooperation between mainland China and Portuguese-speaking countries

 

TAIWAN

Background:

Taiwan company formation and bank account opening are very simple and convenient. It is required to file VAT return every 2 months and profit tax return by the end of May every year. It takes about 1 month for tailor-made incorporation. Information of director is accessible publicly after incorporation. If you don’t wish your personal information to be disclosed, we also provide nominee director and shareholder services for the demand of your anonymity. Our firm is proudly recognised as an approved qualified professional intermediary with major banks, we are able to assist our clients in establishing business bank accounts at international and local banks. After opening the bank account, you can start doing the business by using your Taiwan company.

Advantages of Taiwan Company:

  1. Minimum number of director and shareholder is one who can be natural person or corporate body. They can be of any nationality and no need to reside in Taiwan. If the director is a corporate body, it is required to appoint a representative.
  2. Required to appoint an investment agent who must be Taiwan resident.
  3. Information of director and shareholder is accessible publicly. Your anonymity requirement can still be preserved by using our nominee services.
  4. The tax rate of Taiwan Limited Company is only 17%.
  5. Required to prepare the accounts, but the accounts are not accessible publicly.
  6. Required to audit the accounts of the company which its paid in or working capital exceeds NTD 30 million.
  7. It takes about 1 month for Taiwan company formation.
  8. Stable jurisdiction

 

SINGAPORE

Background:

Singapore sits off the southernmost tip of Peninsular Malaysia about 137 kilometers north of the equator. The Republic is made up of the island of Singapore, which is 42 kilometres long and 23 kilometres wide, together with about 60 smaller islands. The population is approximately 3,015,000.

Advantages of Singapore Company:

  1. Limited liability for shareholders. This means that if the company fails, the shareholders may lose the entire value of their shares but no more, unless they have given guarantees.
  2. A company has its own legal identity. This means that, it can enter into legal agreements, it can own property, it can sue and be sued all in its own name. It will continue to exist, even if its shareholders or directors die, resign or go bankrupt.
  3. It is easier to transfer the ownership of a company than an interest in a partnership, as all that is required is a transfer of shares, subject to the company's constitution.
  4. Clear structures are laid out in the Companies Act governing the organisation and procedures to be followed by companies.
  5. The minimum number of shareholders and directors is one.
  6. Companies may find it easier than partnerships to borrow, as they are able to create floating charges over its assets.
  7. Incorporation is sometimes seen as supporting an image of status and credibility.
  8. Exemption Private Limited companies owned by individual shareholders need not audit its accounts if the company's annual turnover falls below S$5 million.