Hong Kong has consistently achieved a World Ranking of Number 1 in the Index of Economic Freedom compiled by Heritage.org. True to its reputation as the world’s freest economy it allows foreign investment and ownership of companies in almost all sectors excluding a few sensitive sectors such as banking, broadcasting and publication etc. It is a low regulatory jurisdiction and few businesses will be required to obtain special licensing. Hong Kong, a Special Administration Region (SAR) within the People’s Republic of China with its own legislature, executive and judicial system, has evolved into an important financial and investment center in Asia. Backed by the surging Chinese economy, Hong Kong has weathered the global economic crisis quite resiliently and is back on track to attract international investors and enterprises. Hong Kong is a preferred jurisdiction to setup an offshore company to facilitate eCommerce activities, offshore banking activities, international trade, investment activities and for asset protection. Hong Kong taxation system is a territorial one, so a company that generates revenues from operations beyond the borders of Hong Kong, or has no operations in Hong Kong, would typically pay Zero profits tax (corporate income tax). There is no sales tax, no value added tax, no capital gains tax, no dividend tax or withholding tax. Profits tax on revenue generated from within Hong Kong is also the lowest in the region at just 16.5%.
In spite of the low tax rates, Hong Kong is not widely recognized as a tax haven. It commands a clean image as a legitimate business center, a duty free port and regional financial hub that allows the free flow of capital with no exchange controls thus encouraging investments, resulting in a sustainable thriving economy.
Hong Kong is truly an excellent choice of jurisdiction for many reasons, but it is NOT INEXPENSIVE. In addition to paying high fees to corporate service providers, the company will need to prepare audited (private) accounts and file a Profits Tax Return (PTR) annually. You can expect to pay approx. US$2000.00 per year for these CPA services. In Hong Kong the Directors are held personally responsible for failure to file timely tax returns, so deposits may be required for these services.
Having funds secured away OUTSIDE THE UNITED STATES in an International Bank Account is extremely important in times when currency controls and government interference are getting more and more brazen... If you are targeted and ALL YOUR FUNDS are within the United States, it could ALL EASILY BE SEIZED in a single day....a VERY BAD DAY, leaving you unable to mount a legal defense since you will have NO ACCESS TO YOUR OWN MONEY.
The principal goal of International Asset Protection is to place your assets outside of the jurisdiction of the country's court system where you are resident. With regard to liquid assets, the primary way to accomplish this is by moving funds offshore using Offshore Bank Accounts held by either a foreign corporation / Limited Limited Company or by establishing a Bahamas International Asset Protection (Dynasty) Trust.
Opening an International bank account and a brokerage account for your International Company is a key step in the process of diversifying assets outside the jurisdiction of the United States and a key step in securing your future.
Most of our International Incorporation packages include account opening services. We accomplish this, for the most part, without our client (the account signatory) needing to travel. The process can however be daunting, as the “Know Your Client” (KYC) due diligence checks made by the various Institutions and Banking Service Providers are very thorough. You will need to provide detailed information on the purpose of incorporating and the source of funds to be used to capitalize the company (or Trust). Certified Copies of a passport, a drivers’ License, a proof of residential address and a professional or banking reference are also required - and these are all required BEFORE we can begin the incorporation or Trust formation process.
Fortunately, a new generation of FinTech banking service providers has recently entered the market, giving us respite from what had become a horrendous underwriting procedure engaged upon by every offshore bank, wherein every applicant was looked upon as a criminal until proven otherwise. With the arrival of FinTech we are often able to provide scanned and uploaded documents rather than old school “hard copies” notarized and certified and shipped by FedEx around the world several times (before an approval could be given). FinTech has partnered with and given us access to banks that previously would have been inaccessible due to extremely high opening balance requirements. FinTech has given us access to multi-currency bank accounts with IBAN numbers and “local” accounts all over the world, all within an app on a device that we can carry everywhere. Yes, looking at recent developments, we are optimistic for the future!
Because of laws and regulations such as FATCA, opening accounts for U.S. citizens and residents is certainly more challenging than for a European citizen for example, but we are continually researching, testing, and developing our relationships. Our Bank Account Opening Service is included with most of our International Incorporation Packages and our success rate is high, but please note however, that we cannot guarantee that you will be able to open an account as this process is out of our control and conditional upon the Bank's policies and procedures. In the rare circumstance that we are unable to open an account for you, we will refund the account opening fee, but we DO NOT refund the fees paid for the incorporation packages.
Please note that the fee that we charge for account opening services will be clearly indicated in your invoice that will be presented to you prior to you becoming a client. Please also note the the fee charged rarely covers our costs, as the process is extremely time intensive. We offer the service out of necessity and as a service to our clients. Please note that the Banks themselves may also charge an "account opening fee" - this is common when an international company search must be completed or if the bank agrees to open the account remotely (without a personal visit). This fee is usually payable only when the account has been opened and is usually deducted from your initial deposit.
One of the keys to our account opening success is the provision of “Nominee” Director services in our packages, so the Director deals with the banking service provider throughout the entire process until an account approval is given, at which time, the bank will release the new account details, login/passwords etc. only to the account signatories.
The selection of the banking service provider is best left with the Director and will be made after consideration of all factors including the purpose of incorporation, jurisdiction of incorporation, intended use of the account, nationality/residency of account signatories and shareholders and other factors. If you have specific requirements for banking in a certain jurisdiction for example because you want to operate an e-commerce business, this should be discussed with one of our senior consultants PRIOR to incorporation.
Offshore tax reporting has gotten complicated, but with the right help, it is really no more complicated than preparing a tax return for a U.S. corporation! The problem is that there are many corporate service providers, both offshore and onshore, that "hard sell" offshore entities to a client without any disclosure whatsoever of these reporting requirements.
We feel that the marketing of offshore entities to U.S. Persons without full disclosures of their tax reporting requirements is grossly unethical. We have listed these I.R.S. Reporting Requirements on this website and even included very detailed explanations of each of the I.R.S. Offshore Reporting FORMS related to these offshore entities that can be provided to your accountant or CPA and once you become a client we will provide you with reminder notices in advance of the filing deadlines of the various forms. Accountants are becoming more and more familiar with these I.R.S. Offshore Reporting FORMS but if you would like a referral to an accountant that specializes in this area, please contact us.
REMEMBER: We will prevail by keeping our wealth outside the US and invested in assets that will protect and grow our wealth. That is the mission of today´s international investor."
This package was created for those interested in joining the consistently rated "world’s freest economy" by (Heritage.org) as well as those interested in accessing one of the world’s leading reputable international financial centers. Hong Kong is preferred destination to setup an offshore company to facilitate eCommerce activities, offshore banking activities, international trade, investment activities and for asset protection.
By packaging and automating services rather than providing countless "custom" services, we have been able to provide a comprehensive yet inexpensive package that is unmatched in the industry:
Hong Kong Limited Company Package includes:
- Certificate of Incorporation issued by Companies Registry
- Hong Kong Official Registration Fees (includes BR)
- Memorandum of Articles of Association - Preparation & Minutes
- Provision of Hong Kong Registered Office
- Provision of Hong Kong Company Secretary (required by law)
- Provision of Nominee Shareholder (shareholders are public record)
- Offshore Nominee (Individual) Director ($750.00)
- I.R.S. "Pass-through" election taxation - if requested by U.S. person - FREE ($250.00 value)
- Offshore Reglatory KYC Administration ($150.00)
- Offshore bank account opening ($500.00)
- I.R.S. reporting requirement notifications
Hong Kong is truly an excellent choice of jurisdiction for many reasons, but it is NOT INEXPENSIVE. In addition to paying high fees to corporate service providers, the company will need to prepare audited (private) accounts and file a Profits Tax Return (PTR) annually. You can expect to pay approx. US$2000.00 per year for these CPA services. In Hong Kong the Directors are held personally responsible for failure to file timely tax returns, so deposits may be required for these services.
If this is your first time considering an international solution, the process can be daunting, as the “Know Your Client” (KYC) due diligence checks made by the various offshore service providers, Banks and banking service providers are very thorough. You will need to provide detailed information on the purpose of incorporating and the source of funds to be used to capitalize the company (or Trust). Certified Copies of a passport, a Drivers’ License, a proof of residential address and a professional or banking reference are also required - and these are all required BEFORE we can begin the incorporation or Trust formation process.
Immediately upon receiving your order, we will send you the complete requirements. If you are unable or unwilling to meet these requirements and you inform us of this within the first 48 hours, your order will be cancelled and you will receive a full refund. PLEASE NOTE that any and all client due diligence provided will be held confidentially OUTSIDE of the United States.
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Price: $3950.00
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