Freedom Offshore | Hong Kong private limited company


Hong Kong Private Limited Company Formation For PayPal and Ebay Users



Instead of wasting your time reading all the paragraphs below, it is best to just contact us by email and find out about the fantastic offer we have on a Hong Kong private limited company formation for PayPal, and Ebay users. Anything you read on another website, we offer everything they offer and more. So please contact us and get an update from us about the wonderful Hong Kong private limited company formation package you can get through our services.


It will be our pleasure to provide you with professional company registrations in Hong Kong and we are also pleased to assist you to set up a corporate bank account for your Hong Kong company. By the way, we do provide a wide range of maintenance services such as bookkeeping, tax reporting and arranging the annual audit as well. In short, we provide one-stop services to Hong Kong private limited companies.


We provide detailed quotations for the registration and maintenance of a private limited company in Hong Kong. Regarding the registration of the offshore PayPal Account in Hong Kong, we normally suggest the client to handle the registration of other offshore merchant accounts for their Hong Kong company on their own because it is really very simple and clients can do the registration online. This will save the client money.


The applications require some basic information about the company and its principle user. The clients themselves are in a better position to fill in the applications. It takes a few minutes for the clients to complete the application forms and procedures online.


Included with the Hong Kong company formation package that we sell are a list of those accounts you will be able to set up yourself quite easily using your new company formed in Hong Kong.



Seven freedom benefits of our Hong Kong private limited company package:



Cost of the Hong Kong business company package:



We incorporate a private limited company with standard authorized share capital in Hong Kong for a special price, which covers the following:



Please note the following:


1) You are required to pay an additional capital duty on 0.1% of the excess capital if the capital of the proposed company exceeds the authorized share capital;


2) The above quotation only applies to the use of our standard memorandum and articles of association;


4) The normal business registration and levy annual fee is less expensive than some other companies. Our package price will adjust accordingly if there is any change in the business registration and levy fee or any of the official filing fees.



Information/documents requested from you:



To start, please send us the following information and documents by fax or scan by email:


1) A clear photocopy of the passport of each director and shareholder of the proposed company. In case the corporate director and/or corporate shareholder are involved, please send us a scanned copy of its certificate of incorporation. If any document is not in English, please provide us the English translated version as well;


2) A clear photocopy of the recent residential address with proof of each director and shareholder of the proposed company. In case the corporate director and/or corporate shareholder are involved, please send us a scanned copy of any document showing the full registered address of the corporate director and/corporate shareholder. If any document is not in English, please provide us the English translated version as well;


3) The authorized share capital and par value per share respectively. If nothing is otherwise provided by you then we will need to apply for our standard authorized share capital.


4) The issued and paid up share capital. If none is otherwise provided by you, we will apply for the minimum issued and paid up capital;


5) The shareholding percentage amongst each shareholder if there is more than one shareholder.


6) The name and address of any third party of 18 years old or above who will witness the shareholders' signatures in the Memorandum and Articles of Association (M&A). Please be advised that the third party is also needed to sign in the M&A;


7) The scope of business of the proposed company;


8) Three proposed company names in priority (1st choice, 2nd choice, etc.)



Note:


1) The rules governing the formation of the Hong Kong private limited company requires at least one director and one shareholder. The director and shareholder can either be individual or corporate of any nationality. The director and shareholder can be from the same person or same entity. If the shareholder and/director is another company, we require a clear scanned copy of its certificate of incorporation and any document showing its registered address and a clear scanned copy of the passport of the representative from the corporate shareholder/director who will represent the corporate director/shareholder to sign the company registration documents of the proposed HK company;


2) Please note that the recent residential address with proof can be bank statements or utility bills of less than 3 months old or a valid driver license if it covers the full address of the bearer.



Time Frame For The Company Registration


Tailor-made company: 6-7 working days upon the receipt of the originally signed company registration documents from clients. The delivery time of the company kit to you or your clients has not yet been covered.


Readymade company: 2-3 working days upon the receipt of the originally signed company registration documents from clients. The delivery time of the company kit to you has not yet been covered. If you would like to go ahead with a readymade company, please let us know, we will provide our latest shelf list of companies incorporated in Hong Kong for selection.


Besides the company registration, we are also pleased to assist you to set up a corporate bank account in Hong Kong. We hereby provide the details for the establishment of a corporate bank account in HSBC HK for your consideration and perusal.



Establishment Of A Corporate HSBC Bank Account In Hong Kong


ATTENTION: Some of the information below has changed regarding opening a bank account at HSBC so please be sure and contact us about those changes first before acting on the information below.


(skip down to the second #4 below if you're not coming to Hong Kong and you want an offshore bank account for your company. We keep the extra work for you quite low priced compared to other company formation providers who do this sort of service for their clients. Some charge $850 to open an account for your company)


We mainly work with HSBC in the SME center next to our building for the establishment of the corporate bank account for our clients. We mainly recommend our clients apply for the Business Direct account, which is an all-in one account. Business Direct Account is a multi-currency account, which includes the most common foreign currencies. Please refer to the attached sheet for the details of the currencies included. You can apply for the ATM card and/or Internet Banking Services. HSBC has superior Internet Banking Services, which allow you to do wire transfers online. You can totally control the bank account abroad. HSBC HK does not impose any minimum balance requirements on its Business Direct Account.


Our services fee to assist you to set up a Business Direct account in HSBC Hong Kong is US$385 if the subject company has a simple corporate structure of which all director(s) and all shareholder(s) are individual(s). Basically HSBC HK requests at least one director or one principal shareholder to be physically present in the branch where the bank account will be opened for the bank account opening 'know your customer' due diligence process. If you would like to avoid being physically presentation in Hong Kong for the bank account opening, you can engage us as a temporary nominee shareholder to facilitate the bank account opening, we will provide you the details of our 'temporary nominee shareholder package' for bank account opening in later paragraphs.



Our services for the bank account opening in HSBC HK cover:



Regarding the establishment of a corporate bank account, the bank basically requests the following documents from you:


1) A certified true copy of the full set of corporate documents of the subject company certified by a CPA, lawyer, notary public or bank officer from FATF member countries. We will do this for you if you will engage us for the bank account opening;


2) The certified passport and certified recent residential address proof of each director, each shareholder and each ultimate beneficial owner who owns 10% or more interest in the proposed Hong Kong company and each bank account signer. The passport and recent residential address proof can be certified by a CPA, lawyer, notary public or bank officer from FATF member countries. This is our clients' task;


3) The business activities proof of the proposed company such as invoices, quotations issued by the suppliers of the subject company, contracts entered into in the name of the subject company and/or a simple business plan. We will guide you how to write the business plan if you will engage us for the bank account opening. The quantity of business proof is on a case-by-case basis. We will advise you accordingly after we study the business and corporate structure and after you pay for our bank account opening services.


By the way, the bank requests a minimum initial deposit of HK$5,000 (small amount in USD value) for its Business Direct Account. Please be informed that HSBC Hong Kong will deduct HK$290 (very small amount in USD value) from the account once it is approved as the bank's once off setting up and company search fee.



Note:


1) HSBC Hong Kong reserves all rights to request further information and documents. If you will visit Hong Kong in person for the bank account opening, please let us know two working days in advance before your visit so that we can fix a meeting with our bank officer.


2) The recent residential address proof can be bank statements or utility bills of less than 3 months old and issued by any one of the FATF member countries, valid driver licence or identification card if it carries the full name and full residential address of the bearer;


3) Please be informed that all documents submitted must be in English or official English translation if they are in another language and attached with the original version;


4) Further to our previous paragraph, we can assist you to set up a an offshore bank account in other parts of the world without your physical presentation in HK if we are the temporary nominee shareholder holding 10% of the issued share capital of the subject company. Then once the bank account is approved, we will transfer our share(s) to you immediately. That means upon the receipt of the company kit from us, the company is 100% owned by you and your bank account is opened. We request an extra fee of US$100 if you would like us to act as your temporary nominee shareholder to avoid your physical presentation in Hong Kong for the bank account opening. Please be informed that your trip can be avoided to visit HK in person for the bank account opening. But you are still required to visit an overseas HSBC branch for signature verification and passport and recent residential address proof certification. Thank you. Always bear in mind that HSBC HK reserves all rights to request all director(s), shareholder(s) and bank account signer(s)' physical presentation in Hong Kong for the bank account opening 'know your customer' due diligence process if the bank officer thinks fit. If the bank officer requests such a visit, then you must visit in person. You can provide us a scanned copy of the passport and recent residential address proof of all director(s), shareholder(s), ultimate beneficial owner(s) and bank account signer(s) so as to enable us to check with our bank officers if your physical visit to Hong Kong for the bank account opening is a must.


5) If corporate director or corporate shareholder is/are involved, extra documents are required and our handling charge for the bank account opening will be adjusted reasonably for the extra time and effort to be spent for the bank account opening.



Time Frame For The Bank Account Opening


Approval: it depends on a few factors such as the scope of businesses, the expected annual turnover, the nationality of the key personnel of the company and the locations of its business partners. For general business, usually the account can be approved in 2-4 working days after the completion of the whole incorporation process and you have provided us all the information and documents requested by HSBC HK.


Issuance of ATM card, Internet banking PIN number and security device: it normally takes around 6-8 working days for the bank to issue you the materials upon the approval of the corporate bank account.



Bookkeeping, Auditing, And Tax Filing:


The Hong Kong limited company other than the company which has obtained the dormant status is required to update its books of accounts regularly and have its books of accounts audited by HKCPA each year as per the legal requirements in Hong Kong.


We do provide bookkeeping, tax filing and arranging the annual auditing services. Please be informed that our services fee for the accounting and auditing quite depend on the volume of transactions, the complexity of business and its annual turnover. You may expect that our hourly rate to update the books of accounts for your company is around US$50. By the way, there is another fee for the annual audit and tax filing. Please advise us the expectation on the annual turnover of the subject company so as to enable us to provide you our rough quotations for the annual audit for your reference and budgeting. We always look forward to building life relationships with our clients, therefore, we always try our best to provide the best services to our clients at the most reasonable price.


If you will outsource the bookkeeping services to us, you need to provide us all the source documents such as sales and purchase contracts, invoices, official receipts and other expense bills and all other documents which reflect the cash flow of the company for our accounting and auditing purpose. We suggest clients to update the books of accounts at least once a month. If the source documents are not too much, they can send them to us by scanned attachments to email. If the quantity is too much, we suggest that you send them to us by courier. If you will engage us for the bookkeeping, we will generate a monthly balance sheet, profit and loss account, ledgers and journals for the information and record.



Tax Rule


In general, there is one type of taxation for a corporation. It is profits tax.


Please be informed that Hong Kong adopts a territorial source principle of taxation. Only profits which have a source in Hong Kong are taxable here. Profits sourced elsewhere are not subject to Hong Kong Profits Tax.


Please browse the following website for details of the sourcing rules in Hong Kong:


http://www.ird.gov.hk/eng/paf/bus_pft_tsp.htm


Payment Terms


We request full payment in advance. We will provide our invoice and bank account details for your settlement upon the confirmation of your order. We are sorry that we do not accept credit card payments. We do accept PayPal if you have that to pay with.


It will be our honor if we will be given an opportunity to work with your company to provide professional company registration and maintenance for you.


We shall be grateful if you can let us have your further instructions, and should you have any questions, please feel free to contact us at any time.


You can provide us a scanned copy of the passport and recent residential address of each director, each shareholder, each beneficial owner and bank account signatory before you pay us so that we can check for you in advance if you will be able to set up the company and we will be able to set up the bank account in Hong Kong for you without you being there.


By the way, please kindly let us have the detailed business nature and expected annual turnover for the first year's operation as well.


We shall be grateful if you can let us have your further instructions. Should you have any questions, please feel free to contact us at any time.


Sincerely, James for Freedom Offshore Hong Kong Company Incorporating Services


 

 

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