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Client testimonials – Suit Up Tailor Limited

Hello to all of you,

Guillaume is one of our customer who has been experienced to get company opened within 24 hours.

“Tomas is really helpful and knows what he is doing. Even with his detailed websites, he is willing to answer all of your questions to get the work done. Fast and premium service for the lowest price on the market ! Excellent

The company was ready within 24 hours as I needed to have the bank account one day leter.”

 

Suit Up Tailor Limited

Guillaume BAZAN – Corporate

HSBC – Bank account opened at the same day

It’s always great to receive the feed back from our clients on our service:

Hi Tomas,

Thank you very much for your participation in this process. Everything went very good. Bank account is open, I have a debit card, and even the needed device for the internet banking.

I would very much recommend your services to anyone.

If you happen to be in town (central) later today, let me know, I would be more than happy to invite you for a drink or a dinner (if you have time for that of course).

Greetings from France

Regards,
Christophe

Streamline Invest Limited | Managing Director

 

 

Hong Kong tax system

This is our correspondence with our customer, we advise him on the Tax system in Hong Kong.

Customer’s request:

My business operations are all outside of HK (the HK company outsources to my Singapore company), so I would like to claim for offshore profit. I would like someone who has experience with this to advise me on what documentation I need to have, how should the contract/invoices be written, etc, so that the offshore profit claim can proceed smoothly when the time comes.

Startupr response:

Hong Kong tax system is based on a principle of ‘Source’ or ’Territorial income’. If all the income are generated outside Hong Kong, then it will not be subjected to HK tax.

 

For trading, there are 4 main criteria that the company must fulfill:

1.  Where the central management is?

2.  Where and how the sales and purchases contracts are negotiated and concluded?

3.  How the shipping are arranged?

4.   How is the financing arranged?

 For 1, we can proof this by providing the passport of the directors. Short term visits to HK is absolutely O.K.

For 2, we need to provide the correspondences (emails and faxes) between the company (all responsible staff in singapore) and customers and between the company and suppliers. No need to have the hardcopies until the Tax Authority request for the documents.

If there is any sales and purchases contracts/ pro-forma invoices,  we can also provide to the Tax Authority.

For 3, we need all the shipping documents including bill of lading for the places of loading and destination outside HK.

For 4, using the banks in Hong Kong to receive and pay out $ is absolutely fine. BUT, any bank borrowing may likely trigger the income as being generated from Hong Kong.

 For services/ agency/ commission income, it will be a bit simpler. There are 3 criteria:

1.  Who is the customers?

2.  Where and how the contracts are negotiated and concluded?

3.  Where the services are being rendered?

 

For 1, it is important that the customers are overseas companies.

For 2, it is important that the contracts are being negotiated and concluded outside Hong Kong. Where the services to be provided must state clearly in the contracts.

For 3, (the most important), the services must be rendered outside Hong Kong. We need to provide the correspondences which can demonstrate all the services are rendered outside Hong Kong.

 I hope the above will give you a clear picture of offshore claim.

 If you have any questions, pls feel free to contact me.

For Hong Kong company formation visit us.

Labuan conference – Wealth management

Governance Regime for Wealthy Business Families

We are pleased to announce that Labuan Borneo Trustees Limited will be
hosting a half day  Seminar on ” Governance structures, regulatory documents
and policies for wealthy business families” in Kuala Lumpur in the month of
September 2013. We will announce the specific date and venue nearer that
time.

Briefly about the Seminar :

Asian’s wealthy families are most concerned about business growth,
diversification and the allocation of family assets. With the swelling
number of wealthy Asian families, the need for good family governance
mechanisms has become even more important.

This talk will focus on the following key areas :

.         21st century wealthy Asian family business in transition
.         understanding the challenges at the intersection of ownership,
family and business
.         the importance of family governance for the family and business
.         choosing the appropriate tool for governance with specific focus
on Labuan IBFC’s wealth management tools
.         constitutional documents and family governance policies
.         issues to consider when drafting family business governance
documents

A case study involving a 4th generation wealthy family business will also be
covered.

Takeaway:

At the end of the Seminar you will takeaway the following :

.         understand the importance of family, business and ownership
governance systems
.         appreciate the family dynamics and intricacies of family
relationships involved in business
.         learn how to handle the spexhism phenomenon and the speck of dust
theory
.         understand different policies and how they relate to the family
businesses
.         learn to ask appropriate questions  in formulating family business
policies
.         understand how to integrate/develop a family office within the
family and business governance system