Hong Kong Company Setup Service Offers Significant Tax Breaks
The company’s benefits in Hong Kong can be broadly classified into three: tax benefits, professional indemnity, and freedom of trade. The professional indemnity provided by the law on behalf of clients can protect them from liability concerning their services and personal liabilities. Tax benefits are specifically designed for business owners and investors who make huge investments in commercial properties.
If you are looking forward to setting up a business in Hong Kong, it will be better to go for a bank account for Hong Kong company setup service. One option for you is to open a ‘personal’ statement at a local bank. Opening a bank account should not be your priority. For instance, please look for an option to open a business account since this will be the best way to have a permanent address for your company. Opening a bank account should not be your priority. For instance, please look for an option to open a business account because this will be the best way to have a permanent address for your company.
The benefits of company registration in Hong Kong are enormous. If you look at the bigger picture, you will find that Hong Kong is a highly desirable place to do business because of its low cost of doing business and the strong legal structure in the Corporations Administration. Furthermore, the British Companies Act and the Treaties are in force to maintain the authenticity of a company’s ownership.
If you have decided to set up a Hong Kong company, you will be delighted to know that the benefits of company formation in Hong Kong include a tax benefit. It means that you can save money on your taxes by incorporating a company in Hong Kong. There are two types of tax benefits available to a company secretary when setting up a Hong Kong company. These are the deferred transfer tax benefit and the standard charge tax. With these benefits, you can be assured of a significant amount of savings.
The benefits of company registration in Hong Kong include a simplified process of company registration. The entire process of company registration in Hong Kong is quick, safe, and comfortable. Moreover, with a Hong Kong company setup service you can get a range of services such as a list of alternate directors, nominee accountants, bookkeeping services, limited liability corporation, printing and engraving, auditing, payroll services, and a lot more.
Another benefit of company registration in Hong Kong is that you will enjoy plenty of benefits. The companies set up in Hong Kong to receive a license from the Securities and Futures Office of the Hong Kong government. It will enable you to trade on the international market. Furthermore, there are numerous tax benefits. The Companies Registry Office will maintain a list of all the companies registered in the said office.
Companies can save a lot on various costs such as annual tax payments, income tax, social security tax, and even a local property tax. Most importantly, you will enjoy multiple benefits under the employment law section 9, including statutory maternity pay, sick leave, dismissal, and workers’ compensation. Under this section, employees can enjoy tax benefits for maternity, paternity, and maternity-paternity leave. Besides, if an employee is injured or becomes ill during his/her employment, he/she will be entitled to workers’ compensation.
One of the best benefits offered by a Hong Kong company setup service is saving money. You will not need to pay income tax on the interest accrued or the salaries earned. Moreover, there are no income tax rebates to be enjoyed either. Thus, it can be said that this service is a win-win situation for both the employer and the employee.