An offshore company names
Have your proposed offshore company name approved by the company Registrar of Hong Kong before it is incorporated.
Put directors in place
There must be at least one director in the company. However, there is an unlimited number when it comes to the maximum number of directors. A director can either be a natural person or a company from any of the acceptable countries. In the absence of such a director, you can enlist the services of a nominee director.
Have at least one shareholder
A shareholder in the offshore company can be a natural person or a company. You are mandated to have at least one shareholder. You can have up to a maximum of 50 shareholders from any country. The main director can also be the main shareholder and there are no restrictions as to whether he/she is a resident or a foreign citizen.
You must employ a company secretary
You are mandated to enlist the services of a company secretary. He/she can be a resident or a corporate resident. The main director or shareholder of an offshore company cannot double up as a company secretary.
You are required to provide a Hong Kong physical address which is not a post office number.
As an offshore company, you must deposit any amount of share capital into the bank account of your company. You must however not deposit bearer shares.
Once your offshore company has been incorporated, you must continue to comply with a certain set of regulations put in place for all Hong Kong companies. These compliances are:
- Annual auditing of company accounts
- Filling of tax returns to the Department of Inland Revenue.
- Informing the Registrar of companies about any changes made to the company in terms of membership.
- Holding Annual General Meetings (AGMs) at the appropriate time.
- File your company’s annual returns.
- Renew your Certificate of Business Registration.
- Having a proper record of all your accounting businesses and that of your documents of the business.