Legislation of Macau

Service packages Legislation Tax System

List of laws and regulations

Act name
Scope of law
types of entities, incorporation
industrial property
commercial registration
offshore institutes
motor vehicle tax
gambling
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Tax treaties entered

Belgium
Cape Verde
China
Mozambique
Portugal

Tax Exchange Information Agreement (TEIA)

Argentina
Australia
Denmark
Faroe Islands
Finland
Greenland
Guernsey
Iceland
India
Ireland
Japan
Jamaica
Malta
Norway
Sweden
United Kingdom

List of state regulatory authorities

Macau Trade and Investment Promotion Institute
Financial Services Bureau
Social Security Fund
Monetary Authority of Macau
Gaming Inspection and Coordination Bureau

Corporate info

Legal system
civil law
Types of entity
individual entrepreneur; unlimited liability company; mixed liability company by quotas; mixed liability company by shares; limited liability company by an individual quota; limited liability company by quotas; limited liability company by shares; foreign branch; representative office
Shelf companies permitted
No
Incorporation timescale for a new company
15 days
Company suffix
Limitada (Lda.) or Chinese equivalent (or English, but only together with Portugal and Chinese)
Sensitive words
identical names; common expressions without and adequate translation in the official languages; names corresponding , wholly or partly, to names of shareholders; registered trademarks; words resulting from the merging of words or parts of words related with the activities exercised or taken from the names of the shareholders; words aiming at facilitating larger penetration of market to which the activities exercised are directed
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
balance of accounts, shareholders meeting minutes books and directors meeting minutes book
Seal required, type of seal
not imposed, but recommended
Redomiciliation (to, from) permitted
not permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
Yes / no requirements / Macau
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
2
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / Macau
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
25000
Minimum issued share capital
No requirements
Minimum paid share capital
25000
Authorized capital payment deadlines
Upon registration
Issued capital payment deadlines
No requirements
Standard currency
Pataca
Standard authorized share capital
25000
Standard par value of shares
1000
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
7-12%
Min. rate for corporate tax
12%
Corporate tax (in detail)
Income tax is paid at a tax rate of 12%. Profits less than 600,000 MPA are not taxed
Capital gains tax
Regular rate
Capital gains tax. Details
VAT
No
VAT. Details
Withholding tax
No
Other taxes
Social contributions, Property tax
Exchange control
No
Government fee
No
Stamp duty
0,2-10%

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Eastern Asia
Total area
29.5 sq.km
Population
649.342 (2020)
Capital
No
National currency
Pataca
Conditional reduction of currency
MOP
Against USD
0,12 (2022)
Climate, average max and min t°
Situated on the border of subtropical and subequatorial climate zones, average t in January is 14 °C, average t in July is 28 °C
Time difference from Moscow
+ 5 hours
Dialing code
+853
State language
Chinese, Portugal
Ethnic groups
Chinese 95%, other 5% - Macanese (mixed Portuguese and Asian ancestry), Filipino, etc.
Literacy rate
96,5% (2019)
History
Macau was under jurisdiction of Chinese province Guangdong before the Common Era. In the 16th century Macau became one of the first European settlements in Southeastern Asia, colonized by the Portuguese. Portuguese used Macau as a port for carrying out trading activities with Guangzhou and other regions of China, as well as Japan. Portuguese expanded their territories gradually. In the 17th century they drained maritime domain, as a result, former island of Macau, which was connected to the continent only by a narrow neck of land, developed into a peninsula. After Portuguese sea rule was wrecked in the middle of 17th century, the city lost its trade hegemony. Later, Macau’s significance got reduced due to occupation of Hong Kong by Great Britain and opening of Chinese ports for external trade since 1842. In 1897 Macau became a separate colony of Portugal. During the Second World War Macau was occupied by the Japanese, but after its end Macau was taken over by Portugal again. Pursuant to a Sino-Portuguese Joint Declaration signed on 13 April 1987, Macau became the Macau Special Administrative Region (SAR) of the People's Republic of China on 20 December 1999. Being a part of China, Macau enjoys a high degree autonomy, has its own laws, legislation, monetary, customs and emigration systems and a membership in international organizations. Chinese central government conducts only foreign and defense matters. Macao will keep this status for the next 50 years.
Credit rating
AA
Government type
limited democracy
Executive branch
Executive Council headed by the chief executive
Legislative branch
Legislative Assembly, a 29-member body
Judicial branch
Court of the First Instance, Court of the Second Instance, Court of Final Appeal
Unemployment
3,3% (2022)
GDP per capita rank
9 (2020)
Corruption perceptions index rank
46 (2019)

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