Services
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Fees (USD)
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Total cost of incorporation (including preparation and provision of original constitutive documents and their apostilled copies)
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2500
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Supporting the Hong Kong bank account opening[1]
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from 3030
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Office rent in Hong Kong for 1 year
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see the details below
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Total:
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from 5530
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Step-by-step description of incorporation of a Hong Kong Private Company Limited by Shares:
At the meeting, it is necessary to show the original documents for verification or produce notarized copies.
Incorporation of a new company takes from 1 to 5 business days from the date of filing in Hong Kong. An apostilled set of documents will be ready in 7 to 9 business days.
Purchasing a ready-made (shelf) company will take 1 or 2 hours after the necessary documents and information is provided.
The set of documents delivered to the client upon Hong Kong company incorporation includes:
If the standard apostilled set (as in 8 above) does not satisfy the bank, you can order an additional set choosing one of the options below:
1) Documents certified by the Hong Kong Registrar, with apostille (each document to be certified individually):
Such set costs USD 910. It takes 3 business days to prepare it (depending on the workload of state authorities).
2) Documents certified by a Hong Kong notary, with apostille (copies of documents certified in a single bound set):
Such set costs USD 1020. It takes 4 business days to prepare it.
- minimum number:
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- one
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- individual / corporate:
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- at least 1 director must be individual
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- residence:
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- no requirements
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- minimum number:
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- one
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- individual / corporate:
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- individual / corporate
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- residence:
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- no requirements
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- minimum number:
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- one
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- individual / corporate:
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- individual / corporate
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- residence:
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- must be a Hong Kong resident, in our case the secretarial services provided by our company are included in the incorporation and/or annual renewal package
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- minimum authorized share capital:
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- none
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- standard share capital:
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- HKD 1000
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- minimum issued / paid up share capital:
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- HKD 1
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The share capital can be denominated in any currency. There is no minimum authorized share capital, and a Hong Kong company must issue at least 1 share, payable immediately upon issue or at the time designated by the terms of the issue and specified in the relevant resolution. No payment deadlines are set for the authorized share capital. Usually the share capital is HKD 1000 which is divided into shares of HKD 1.00 each. The details of shareholders and directors are filed with the public register.
Hong Kong companies must annually submit their Annual Return, tax return and audited financial statements. Neither financial statements nor tax returns are open for public inspection.
Hong Kong has a territorial tax system, meaning that a Hong Kong company is only subject to 16.5% profits tax on its income derived from a Hong Kong source, that is to say:
Trading with Mainland China does not create tax in Hong Kong (subject to the restrictions described above).
In practice Hong Kong is widely used for delivery of goods to and from China.
To assess the company’s tax burden, we recommend seeking tax advice (which can be arranged upon request).
All Hong Kong companies are required to file an Employer's Return Of Remuneration And Pensions upon request from the Hong Kong Inland Revenue Department.
The Employer's Return Of Remuneration And Pensions must be submitted within a month from the date of its receipt from the IRD.
The fee for submitting this return is:
The penalty for failure to submit is HKD 2 400 (approximately USD 310). Failure to submit this return may subsequently lead to deregistration of the company by court order.
Every company must file a special notice with the Hong Kong IRD within 30 days from the date of commencement of business, otherwise the company may be fined HKD 5000 (approximately USD 640) and its officers may be liable to imprisonment of up to 1 year. The business commencement date is the date of company signing its first contract or issuing its first invoice, or the date of the first transaction in the company’s account.
The postal service includes:
The postal service fee is USD 880 per year, including 1 monthly shipment to the Moscow office of GSL Law & Consulting. Additional courier shipments of documents from the Hong Kong office are payable in accordance with the invoices.
The postal service includes scanning up to 5 pages of the received mail per month. Scanning any more documents than that and sending them by email is subject to separate charges (if necessary) - USD10/page.
SIM card
The SmarTone SIM card with a local Hong Kong number allows receiving and making calls from/to other countries under international roaming & IDD (rates). A positive balance of account is required, and even if there were no calls / expenses in the SIM card, it is necessary to top up every 180 days (minimum USD 7) in order to retain your phone number with the carrier.
The cost of getting a local SIM card without your company’s representative visiting Hong Kong is USD 610 (anonymous SIM card, no corporate contract), plus courier delivery.
Individual telephone line
Personal telephone line service includes:
Payment is made for a year in advance. Per-minute billing is paid quarterly based on itemized phone bills. If payment of per-minute billing is more than 1 month late, the service is terminated. This is why a deposit of USD 330 is required, which is used to cover additional invoices issued in accordance with per-minute billing. After the three months, a deposit is charged for the remaining nine months based on the average per-minute billing.
The fee for having an individual telephone line is USD 1575 / year.
The fee for making an office rent agreement without physically placing there an employee is USD 675 / month. The rented address is the same as the company’s registered office.
The fee for sub-renting an office with physically placing there an employee is from USD 1280 / month. A large bright office with Internet and amenities is located in one of the central areas. Details of equipment and office use should be agreed individually.
The cost of renting your own office with a separate address depends on the size and location of the premises. The minimum rent is from USD 1200 per month for an office of 12-13 sq. m. (rare offers in the rental market, office room in a remote area without amenities).
The minimum rent period is 2 years. The landlord requires a deposit equal to 2-3 monthly rents. The agency fee ranges from 0.5 to 2 monthly rents.
The services of recruiting staff are provided upon request based on business needs, employee’s duties, and work schedule. The fee for such services is 25-35% of the employee’s annual salary. The minimum wage of an employee in Hong Kong is from USD 2000 / month.
Services
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Fees (USD)
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Company incorporation and subsequent administration
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Total cost of incorporation (including preparation and provision of the company’s original constitutive documents and their apostilled copies, share issue documents, compliance fee and common seal)
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2500
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Further annual maintenance (starting from the second year), including provision of registered office, not including preparation of financial statements
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1740
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Nominee Director (for 1 year, including one apostilled POA)
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1140
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Nominee shareholder (for 1 year)
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435
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Certificate of Continuing Registration
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340 (original) / 680 (apostilled original)
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Business Registration Certificate
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340 (original) / 680 (apostilled original)
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Certificate of Incumbency
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310 (original) / 650 (apostilled original)
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Company Particulars Report
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340 (original) / 680 (apostilled original)
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Apostille of any document (without additional certification by notary)
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340
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Additional Apostilled set of constitutive documents: certified by Commissioner for Oaths/certified by authorities (Registrar / IRD)/certified by notary
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675/950/1125
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Amending the company’s Articles of Association (filing only, not including the lawyer’s fees for drafting amendments)
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from 915
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Preparing documents for changing shareholder/ beneficial owner
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980
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Preparing documents for changing director
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840
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Courier delivery of documents from Hong Kong to Russia
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125
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Courier delivery (urgent) of documents from Hong Kong to Russia
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215
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Preparing and filing dormant accounts
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900
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Preparing and filing non-dormant accounts
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100 – 400 / hour (depending on time spent)
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Compliance fee. Payable in the cases of: renewal of a company, liquidation of a company, transfer out of a company, issue of a power of attorney to a new attorney, change of directorshareholderbeneficial owner, except the change to a nominee directorshareholder)
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250 (standard rate – includes the check of 1 individual) + 50 for each additional individual (director, shareholder, or beneficial owner) or legal entity (director or shareholder) if such legal entity is administered by GSL; + 100 for each additional legal entity (director or shareholder) if such legal entity is not administered by GSL. 350 (check for High Risk companies, including the check of 1 individual)
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Creating substance in Hong Kong
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Postal service for 1 year, includes 1 shipment per month to the Moscow office of GSL Law & Consulting
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880
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SIM card
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610
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Individual telephone line with 24-hour call forwarding to a foreign number, for 1 year
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1575
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Deposit (refundable, depends on the scope of services)
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from 330
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Renting office at the registered office address
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Office rent agreement without physically placing there an employee, per month
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675
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Office rent agreement with physically placing there an employee (terms to be agreed), per month
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1280
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Renting a separate office
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Searching for office space
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200 / hour
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GSL services of searching for office space, agreeing the terms of and arranging the signing of the office rent agreement are charged on an hourly basis, with a report on the work done
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Minimum deposit – 800
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GSL agency fee, if the rent agreement is signed (payable once)
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10% of annual sum
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The HK realtor’s fee, if any, is paid additionally as invoiced by the realtor (the fees of local realtors can equal a monthly or two monthly rents). Monthly rent (a deposit is payable to the landlord for two months in advance)
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from 1200 / month (small office without amenities); from 2000 / month (with amenities for employees)
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Recruiting services
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from 25-35% of annual salary
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Minimum wage per month
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from 2000
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[1] Please check with your GSL Law & Consulting consultant whether your company can open a Hong Kong bank account.
[2] The fees are valid as of September 2021.