Setting up HK company, shelf companies

Offshore Business Q&ACategory: Hong Kong CompanySetting up HK company, shelf companies
pilot44pilot44 asked 2 years ago

A client of our law firm would like to set up a holding company in Hong Kong. Would you happen to have any shelf companies available? If so, could you please send us the list with the names? In addition, please send us the necessary documents that need to be filled out by the client and any information/documents that he needs to provide.

Also, would you be so kind as to provide us with a break-down of your fees and costs for setting up/acquiring the company as well as your yearly fees for nominee services, director, registered office, virtual office, accounting and audit etc.? We look forward to working with you.

1 Answers
1NterCorp1NterCorp answered 2 years ago

Hi Pilot44,

We are pleased to have an opportunity to work with you.

To the law firms we can offer a special agency quotation.

If your company has employees who will be able to provide full customer support for Hong Kong companies formation and you are working with the clients directly, the size of the commission in this case will be the following:

1st – 2nd client – 10%, 3rd client – 15%.

There is no commission from the powers of attorney and Apostille, because there is not our profit

pilot44pilot44 replied 2 years ago

Many thanks for your response.

Please send me a list of shelf companies as well as the required documents that need to be signed.

We are ok with your conditions.

1NterCorp1NterCorp replied 2 years ago

Our shelf companies list can be found here.

To prepare the documents we have to know the company name you pick up and provide scanned copies of the client as below:

The list of documents for registration (in case of if the future owner of the company – the
legal person).

1. CERTIFICATE OF INCORPORATION / REGISTRATION (necessarily official registration
number of the company in the country of registration);

2. MEMORANDUM & ARTICLES OF ASSOCIATION / ARTICLES OF INCORPORATION
REGISTRATION (necessarily official legal address in the country of registration);

3. DIRECTORS RETURN, SHOWING PERSONAL PARTICULARS OF ITS CURRENT DIRECTORS,
SECRETARIES & SHAREHOLDERS;

4. COPIES of FOREIGN and DOMESTIC PASSPORTS, (translated into English language with
the subsequent assurance by the employee of bank).

For registration of the company on the physical person – enough last item.

pilot44pilot44 replied 2 years ago

Thanks for the shelf company list. We will submit it to the client and get back to you asap. What are your working hours?

Also, we would like to have a Panama Anonymous Bearer Share Corporation as shareholder of this Hong Kong company. Are you able to provide us with a shelf company from this jurisdiction as well?

1NterCorp1NterCorp replied 2 years ago

Our office hours are from 10am till 7pm Hong Kong time, from Monday till Friday.

We do not provide Panama companies incorporation/purchase services. Please also be informed that if Hong Kong company has a Panama company with the bearer shares as a shareholder then it can’t open an account in Hong Kong banks.

Where do you plan to open accounts for the companies?

pilot44pilot44 replied 2 years ago

Many thanks for your reply. In that case, we will use an existing Panama corporation that belongs to the client. We will open an account in Switzerland for the Hong Kong company and they accept this structure. However, we thank you for informing us of this important information.

Is there a possibility of obtaining tax advice from your firm on this structure from the point of view of Hong Kong taxation? The Hong Kong company will hold shares in a Swiss daughter company. The Swiss daughter will pay dividends to Hong Kong and Hong Kong will distribute dividends to its Panama shareholder.

1NterCorp1NterCorp replied 2 years ago

There is no dividends tax in Hong Kong.

In a mean time we also would like to ask you about your account opening services.

– Which banks you can open a bank account in Switzerland?
– Who has to be present at the meeting – Director, shareholders etc?
– If the company uses a Nominee service – does the Director still have to be present in the bank?
– Is it possible to have an account opened without personal visit to the bank?
– Which documents are required?
– How long does the opening take?

pilot44pilot44 replied 2 years ago

Another question – we have a company recently incorporate (January 2013) in HK that didn’t carry out any activity but we are not happy with the services provided by current administrators (very slow and unprofessional service in our opinion). Would you be willing to take on the management of such company? If so, what are the conditions for the transfer of the seat to your office and the required documents for such transfer?

1NterCorp1NterCorp replied 2 years ago

Sure, we will be happy to.

To change the Secretary to our company you have to inform the current Secretary about your willing to do so. They will prepare resignation documents from their side.

Also please kindly email us soft copies of the following documents:

– Certificate of Incorporation
– Business Registration Certificate
– Memorandum and Articles of Association
– Bought and Sold Note, Instrument of Transfer – if the company had changed the Shareholder
– D2A, D4 – if the company had changed the Director and/or the Secretary
– R1 – if the company had changed the address

Also we need passport copies of the Director and Shareholder:
– Foreign passport (the page with the photograph and details);
– Domestic passport (the page with the photograph and details and the page with the residential address).

Does the company use Nominee Service?

pilot44pilot44 replied 2 years ago

Ok. Great. How long does this usually take ?

1NterCorp1NterCorp replied 2 years ago

Change of Secretary takes 5 working days starting from the date of submitting the application to the Companies Registry.

Avatar

About the Author:

Join Our Newsletter Feed