Hong Kong is known as one of the world’s top financial centres, drawing considerable capital flows and housing a diverse range of financial organisations. It serves as an entry and exit point for investment into and out of China, and it is critical in facilitating cross-border transactions and money transfers.
Hong Kong’s asset management business is growing, with several local and international firms working there. These companies provide a wide range of investing products and services to both institutional and individual clients.
Hong Kong is located on China’s southern coast, 60 kilometres (37 miles) east of Macau, on the east side of the Pearl River estuary. Except for the north, which borders the Guangdong city of Shenzhen along the Sham Chun River, it is bordered by the South China Sea on all sides.
According to Worldometer’s elaboration of the most recent United Nations data, the current population of the People’s Republic of China’s Hong Kong Special Administrative Region is 7,670,342 as of Friday, May 12, 2023.
Cantonese remains dominant with 96% percent. Mandarin is spoken by 48% of Hong Kong’s population, compared to 46% of the people who can speak English. Previously, English was the second most spoken language.
With the exception of foreign affairs and defence, which remain the responsibility of the Central People’s Government, the Basic Law guarantees Hong Kong a high level of autonomy under Chinese administration.
Hong Kong has comprehensive double taxation agreements with Austria, Belgium, Brunei, Canada, the Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Jersey, Kuwait, Liechtenstein, Luxembourg, Malaysia, Malta, Mexico, the Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, the United Kingdom, Vietnam, Qatar, and the Mainland China to relieve taxation on income such as dividends, interest income, and royalties.
|License:||Type 9 License|
|Timeframe for Approval:||4 months|
|Regulator:||Securities & Futures Commission of Hong Kong|
|Local Director:||Only one director (only natural person, no nationality or residency restrictions)|
|Local Shareholder:||Only one shareholder (can also be a legal person, no nationality restriction)|
|Local Registered Office:||Required|
|Corporate Tax Rate:||16.5%|
|Currency:||Hong Kong Dollar|
|Minimum Paid-up Capital:||N/A (If a Company has a licensing condition that it shall not hold client assets); in other cases HK$5,000,000)|
|Capital Requirement:||HK $100,000|
|Tax Structure:||No Tax on Offshore Income|
The measures that follow will be taken in order to receive a licence:
(Each beneficial owner, shareholder, director, Responsible Officer and secretary must provide)