August 2nd 2012—Hong Kong—Offshore companies incorporated in Hong Kong are not required to have local staff in their company. Both shareholders as well as company directors can be foreigners and are allowed to reside overseas as well. However, foreign company owners should keep in mind that they do need to engage the services of a company secretary who needs to be a local resident in case of individual or if a corporate entity, needs to have their registered business address in Hong Kong.
As per GuideMeHongKong.com (www.guidemehongkong.com), offshore companies in the city have no minimum staff requirements and they do not have minimum investment requirements as well. As long as a company has fulfilled all mandatory structural compliance requirements, they are able to operate without any other hassles. Hong Kong has been one of the most popular offshore company destinations in Asia and thousands of foreign owned companies are registered in the city every year. Some expect the numbers to increase significantly in the future as the city becomes one of the most important business hubs of the world and also as there is more awareness of the business policies in Hong Kong. Currently, companies do not have to pay taxes on foreign sourced income in the city and at the same time, foreigners are able to register a business without requiring any special permission. Foreigners are not even required to visit the city during the company registration process and both company incorporation and management can be done from overseas.
According to GuideMeHongKong.com, it is only when a foreign entrepreneur wants to relocate to Hong Kong for business management that the rules get a little stricter. However, for offshore company owners residing overseas, the laws are quite liberal and these business owners can even visit Hong Kong on a standard visa to attend to any company related matter.
GuideMeHongKong.com is a Hong Kong-focused business information portal targeted towards entrepreneurs who are exploring a move or business in Hong Kong. The site provides detailed information on Hong Kong company registration, taxation, immigration and ongoing compliance matters for startups and small to medium sized companies. Thousands of visitors use our portal every day to obtain comprehensive, accurate and up-to-date information about Hong Kong. For more information please visit http://www.guidemehongkong.com/