Hong Kong is located in Eastern Asia, with China in the South and the South China seas all around. The geographical area of Hong Kong on the map is 22 15 N, 114 10 E. The total land area of Hong Kong is made up of 1,042 sq km. In comparison, Hong Kong is six times as big as Washington D.C.
The climate enjoyed by the Hong Konger's is tropical monsoons throughout the year. During the winters, it is cool and humid, and during the summers it is hot and rainy. The physical feature of Hong Kong comprises of hills and mountains that have steep slopes and lowlands in the north.
The population of Hong Kong is roughly about 6,896,686. Hong Kong's conventional long form name is "Hong Kong Special Administrative Region". This is because of the occupation of United Kingdom in 1841. Hong Kong was recently handed over to China in which additional nearby islands were added.
If you are interested in having your business incorporated in Hong Kong, you will require some initial documents to start you off with. Some of these documents are:
Proposed company name
Local identity cards and addresses of shareholders if they are Hong Kong residents. For foreigner's passport copies and addresses of shareholders.
Company Secretary local identity card copy.
Registered office address
Share capital allotment, amounts and authorization.
While incorporating your business, you should be advised of the following. The name of the company cannot be similar to any existing one. When you are incorporating your company, you will have to be registered with the Inland Revenue Department. This process has to be completed within one month of the incorporation of the company.
It's mandatory for all companies that are incorporated in Hong Kong to have at least two directors and a company secretary. You can have one person with dual responsibilities, which means that you can have one person act as a director and as a secretary. The resident origin of the shareholders can be anyone but the company secretary has to be a Hong Kong resident. When you are publishing the address of the company, the address has to be in Hong Kong. According to the Hong Kong law it is required that the company secretary be a Hong Kong national. The duties of the company secretary are:
Serve meeting notice to shareholders.
Sign on behalf of the company in the capacity of a company secretary.
Maintain share transfer records.
Maintenance of records in respect to share holders, directors and secretary.
The company has to give in tax at the rate of 16% of the total income earned. There are two types of shares: one is the authorized share capital and the issued share capital. There are no limits set to the shares. While you are incorporating the business, there has to be two directors (minimum), two share holders (minimum), and a company secretary. The incorporated company has to have its accounts audited by the Inland Revenue Department, and you can be assured that the accounts are not publicized.
