Why company in Hong Kong is ideal platform for Amazon vendors?

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It’s clear information to most of us that recent years Amazon attracted thousands of suppliers from all over the world to its trading platform in USA and Canada, but also to some other countries, like Germany, and Mexico.

There’s nothing surprising about it, since Amazon offered the most valuable thing, it’s the biggest and the richest retail market in the world together with easy to understand and maximum transparent platform for work in the matter of logistics, finance and marketing. 

Many suppliers studying the work with Amazon trading platform question themselves with important issues. How to do business in this retail in legally and correct way, how to arrange profit return to their personal bank account, how to arrange payment to suppliers. It’s obvious that their home jurisdiction is often not the correct way to choose. Some country’s legislation doesn’t imply offshore business and has foreign currency restrictions.

We would like to recommend the work with Amazon using Hong Kong limited company. And there are many grounds for this. Let’s talk them in more details.

 

1. Registration of Hong Kong takes only one week. And there’s no necessity to come to Hong Kong.

2. Registration fee in general takes only 600 USD.

3.Total annual expenditures on limited company start only from 900 USD.

4. There are very little restrictions on nationality for limited company in HK. All restrictions are mostly related to companies in the UN sanctions list.

5. Jurisdiction in one legal field with China, and it’s easy to notice that most of real manufactures are in China.

6. Company in Hong Kong and retail business in Amazon provide rather reliable ways to open account in reliable financial system.

7. The English language is official language in Hong Kong, that’s why most of the law and requirements on accounting are easy to grasp.

8. It’s really easy to do accounting. Furthermore, it’s really hard to imagine more simple and more transparent requirement for accounting than in Hong Kong. The first accounting check starts only after 1,5 years from commencement day.   

9. Easy to understand taxation system and the lowest profit tax in the world. The only tax, which trading company with foreign employees need to pay is profit tax, which is only 8,5 % of net profit for companies with net profit lower than 4 million Hong Kong dollars. Furthermore, there are legal ways to lower the tax burden and the government usually annually supports the business with tax allowance.

10. The last and one of the most important things is existence of reliable partner in the name of CorpProm. And we are always here to support you in the questions of registration, company service and bank communication.

 

So dear colleagues, if you are already in Amazon or just thinking over Amazon system – limited company in Hong Kong with the reliable partner CorpProm – is the right option!

Notarize documents by High court in Hong Kong

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Many companies face the problem of notarization of documents at some point of work. In Hong Kong documents can be notarized in High Court, by public notary and by certified public accountant (CPA)/Auditor. This article will introduce the list of documents that can be apostilled by High court.

A document can be apostilled (type of legalization) by High court and thereby will have a legal force. Meanwhile Notary and CPA confirms the authenticity of signatures, documents, etc.

An apostilled document can be as follow further. Please note that no any documents are accepted by the High Court o

Hong Kong. For verification the original document must be provided.


  • Marriage certificate
  • Certificate of Absence of Marriage Record
  • Certificate of Registered Particulars
  • Birth and Death Certificate
  • Business Registration Certificate
  • Certificate of Incorporation
  • M&A

Our colleagues will clarify what documents can be certified and the best price offered.

Virtual Banking in Hong Kong

Information technology has spread through all areas of our life and influenced virtualization of bank sphere.

Traditional banks aren’t as mobile as virtual banking which can offer a new kind of services in banking and satisfy the needs of different groups of clients. The main feature of this banking is working only through Internet without traditional branch office and some operate only mobile app.

From the moment of opening the 1st virtual bank in the world “Security First Network Bank” passed 22 year. Only in 2017 year in Hong Kong was announced about intention to begin “A New Era of Smart Banking”. In 2020 year already 8 virtual banks has begun its work: ZA Bank Limited, Airstar Bank Limited, Ant Bank, Livi Bank Limited, Fusion Bank, Mox Bank Limited, Ping An OneConnect Bank, WeLab Bank. Za Bank Limited is the first virtual banks in Hong Kong launched an opportunity to issue a debit cards for new clients, and also started new foreign incoming payments.

Hong Kong Monetary Authority (HKMA) expects that virtual banking development will help to promote high technology and innovation not only in this sphere. The focus is on local business, mostly personal banking, but corporate services for SME are becoming more and more popular.

Our company will help to understand the specifics of opening bank account in Hong Kong and China.   

Profit tax in Hong Kong

This article is about features of the profit tax in Hong Kong


1. The Hong Kong tax system is based on the territorial principle. If the company’s profit is originated from outside Hong Kong, there are legal ways not to pay corporate tax in Hong Kong. Income from foreign sources is not taxed, even if it was moved to Hong Kong. Anyway there are corporate bodies who prefer to become tax resident of Hong Kong, even if they are working outside, mostly because of low profit tax and easy to follow tax policy.

2. Legal entities that make business and profits on the territory of Hong Kong must pay income tax in Hong Kong on a regular base. It also applies to other jurisdictions that are registered as tax residents in Hong Kong. There are some minor details that can be stipulated as activity in Hong Kong or activity outside Hong Kong.

3. The company’s loss is accumulated for over a period of 5 years, and income tax will be accrued only after company’s full repayment of its loss.

4. In Hong Kong the corporate tax is progressive. Currently, the standard rate of corporate tax in Hong Kong is 16.5%. The tax rate for small corporations with income is less than 4 million GK dollars, the tax rate is only 8%. This is almost the lowest income tax rate in the world.


Our company helps to understand all the features of taxation in Hong Kong and can be tax agent between corporate body and Inland Revenue Department.

2019公眾假期

親愛的夥伴們:想了解中國香港,中國大陸,俄羅斯和美國的2019年公眾假期安排嗎?只需輕輕壹點這裏(鏈接),就能獲得這些資訊。希望這些資訊能夠讓從事國際貿易的您更加淮確安排自身的工作規劃,為您帶來巨大的便利和快捷。

關於2019年元旦放假的通知

親愛的各位夥伴們: 根據國家法定假期的規定,我司關於元旦的放假的安排如下: 1、放假時間:2018年12月25日(週二)至26日(週三),共兩天;2019年1月1日(週二)至2019年1月4日(週五),共四天;其中週末正常休息。 2、上班時間:2018年12月24日(週一)、27日(週四)、28日(週五)以及31日(週一)正常上班。 3、公司于2019年1月7日(週一)開始恢復正常上班。 麻煩各位親愛的夥伴們參考上述時間進行您的工作安排。給您造成不便,實屬抱歉。 祝各位親愛的夥伴們身體健康,闔家歡樂,心想事成。期待在2019新的一年里與您再次的親密合作。

親愛的各位合夥人!

最近我們得知一個內地稅務局公佈的有趣案例,我們將分享給大家。

背景

(d) A公司、B公司及C公司(統稱“香港公司”)是在香港註冊成立的公司。它們各自的母公司及共同的最終控股公司以外地區成立。

(e) 香港公司的主要業務為物業投資。它們共同持有一棟商業大廈,以作長線投資及出租用途。

(f) 香港公司所隶属的集團採用一項物業由單一物業投資公司持有的架構。為統一集團持有物業的架構、及增加管理權益,該集團計劃把B公司及C公司以橫向形式合併至A公司﹝“有关合并”﹞.

安排

(j) (a)B 公司及C公司擬在2017年6月30日或以前合併至A公司。

(k) (b)合併需要遵守公司法例(第622章)第13節第3部門的合併條例。合併生效以及其後的法力效應包括:

(l) (i)B公司及C公司不再是獨立于A公司之外的實體;

(m) (ii)A公司繼承B公司及C公司的所有財產、權利及特權,以及所有法律責任及義務;及

(n) (iii)B公司及C公司訂立的協議均由A公司執行或針對A公司執行。

(o) 在有關合併以後,作為唯一物業擁有人的A公司將主力及單獨營運整棟商業大廈的物業出租業務。

裁定

(p) 在有關合併以後,A公司會繼承B公司 及C 公司的所有財產、物業及負債。相關繼承并不構成《稅務條例》涵蓋的出售、轉讓或任何處置或該些財產、物業及負債性質上的變動。B公司及C公司已撥備或入賬的應付未付支出,可在不作出任何稅務調整的情況下,被轉移至A公司。

(q) 為實行《稅務條例》第14條,香港公司不會因有關合併,而招致或被當作招致任何利潤或虧損。

(r) A公司可依據《稅務條例》第33A條,享有B公司及C公司的商業建築物及構築物的權益。在進行有關合併時,《税务条例》第35條則不適用。A公司可申索商業建築物及構築物的每年免稅額。但在其後出售該權益時,則須計算結餘課稅,而該結餘課稅款額不會超出給與香港公司的免稅額的總和。

(s) A公司可依據《稅務條例》第39B條,申索機械或工業裝置的每年免稅額,而該免稅額將以B公司及C公司在合併前就有關機械或工業裝置未曾申索的遞減價值為根據計算。但在其後出售該權益時,則須計算結餘課稅,而該結餘課稅款額不會超出給與香港公司的免稅額的總和。在進行有關合併時,《稅務條例》第39D條則不適用。

(t) 在有關合併生效的課稅年度,B公司及C公司將不獲給與涉及上述裁定第(C)項的商業建築物及構築物和上述裁定第(d)項的機械或工業裝置的每年免稅額。

(u) 為實行《稅務條例》第51(1)條,作為合併后僅存的公司,A公司須提交:

(a) B公司及C公司的利得稅報稅表,以申報該兩家公司就2016年7月1日至有關合併生效日前一日期間的應評稅利潤或經調整虧損;及

(i) 其自身的2017/18課稅年度利得稅報稅表。該報稅表須申報包括其經營繼承自B公司及C公司的行業或業務,就有關合併生效日至2017年6月30日期間所招致的應評稅利潤或經調整虧損。

(v) B公司及C公司不用依據《税务条例》第51(6)條,就停止經營行業、專業或業務通知稅局局長。但A公司須在有關合併的生效日期起計一個月內將有關合併以書面通知稅務局局長。

(w) 《稅務條例》第61及61A條不適用于有關合併安排。

(來源:香港政府特別行政區稅務局管制案例第62宗于2017年8月22日)