You can register a company in Hong Kong remotely, but plan tax, banking and compliance before you start.
Why UK businesses choose Hong Kong
– Profits tax of 8.25% on the first HK$2 million of profits and 16.5% above that
– Profits that do not arise in Hong Kong are generally not taxed
– No VAT, no capital gains tax and no withholding tax on dividends
– A free port with no customs duty on most imported goods
– Close links with suppliers and customers in mainland China and Southeast Asia
What you need
- At least one director who is an individual. Any nationality, no need to live in Hong Kong
- At least one shareholder. Your UK company can hold all the shares
- A company secretary in Hong Kong: a resident individual or a local company
- A registered office address in Hong Kong
- Share capital in any currency, with no minimum amount
You will also need passport and address proof for every director and shareholder, plus details of the people who ultimately control the company
Company and business registration are filed together, and the certificates usually arrive within a few working days. Providers such as WeForm can register a Hong Kong company online and supply the secretary and office address
Banking and annual compliance
Hong Kong banks run thorough checks and may ask for a meeting, so many new companies start with a digital bank or a payment institution. Have a clear description of your business, main clients and expected turnover ready, because both the bank and the secretary will ask for it.
Each year the company must:
- have its accounts audited by a Hong Kong CPA
- file a profits tax return
- file an annual return and renew its business registration
- keep its register of significant controllers up to date
UK tax points to check
If the Hong Kong company is run from the UK, HMRC may treat it as a UK tax resident. UK controlled foreign company rules can also tax profits shifted out of the UK. The UK and Hong Kong have a double tax treaty, so tax paid in one place can usually be credited in the other. Take UK tax advice before you move contracts or staff, and keep records that show where the profits are earned.
Set up properly, a Hong Kong company gives a UK business a credible, low-tax base for trade with Asia
