Past a few days, we have been receiving an emails in regards whether we are able to open up a bank account without yours present in Hong Kong HSBC.
The answer is yes/no. Our clients were referring to the other incorporation porviders which claim that they can do it. According to HK law there is no way to avoid a duty of being present once opening the business bank account with any bank in Hong Kong.
Here is the statement from HSBC commercial center: “Please be advised that face to face meeting with the director(s) or ultimate beneficiary owner(s) of the applicant company is/are required for HK account opening”.
you can open up a business bank account without being in Hong Kong however you need to visit the nearest HSBC business center in order to sign and verify documents. For that purpose please contact us and we will discuss this possibility with HSBC relationship manager who will provide us with relevant information.
If you think about to start your new company and enjoy the tax exemption in Singapore one of the most important matter is to be recognized by local authority as a Singapore resident (see the another criteria) or Foreigner living in SG and the shareholder can’t be corporate body.
Indicate whether you are tax resident or not
In order to enjoy the Singapore tax exemption status you need to:
– be recognized as Singaporean citizen; or
– Singapore Permanent Resident (SPR) if your home is in Singapore
– Foreigner who is currently working or staying in Singapore for at least 183 days or more in previous year.
What is VAT?
VAT – Value Added Tax is a tax business charge between supplier and customer when supplier supply his goods and services in UK.
When to register for VAT
There are a few section which will help you to distinguish which category you suit to. For each of the case there is different rules.
Please kindly chose one of those and find our more on HRMC webpage.
– You are doing business in the UK, or intend to
– You supply goods or services to the UK from abroad, or intend to start
– You supply goods or services from the UK to other countries
– You supply goods or services from another country to another country through UK
How to register for VAT
You have several choices one of them is to use our service once you opening the company or visit HMRC webpage for further information.
Which form you use and the number of forms you will need to complete will depend on a few particular circumstances. Online HMRC Service.
VAT and International Trade
Visit HMRC webpage for further information on VAT and International trade here.
VAT and Internet services
Visit HMRC webpage for further information on VAT and Internet services here.
Rates of VAT
|Rate of VAT||Another term||Taxable Supplies|
|17.50%||Standard Rate||most of the goods and services|
|5%||Reduced Rate||renovation and alteration of dwellings etc.|
|0%||Zero Rate||newspaper, books, most food(not meals) etc.*|
*Click here to find out more about exempt goods and services.
For more information on When to register for UK VAT visit HM Revenue & Customs here.
For more information on Where to register for UK VAT visit HM Revenue & Customs here.
Type of Company for International Trade and Investment
- Company Limited by shares which is subdivided into:
(i) Public companies and
(ii) Private companies which are also subdivided into:
– Exempt Private Company
– Limited Private Company
- Company Limited by guarantee
- The Partnerships – two general types of Partnerships:
– General Partnership
– Limited Partnership
Cyprus as a part of European Union is considered as one of the most efficient jurisdiction in terms of corporate tax – all companies are subject to a uniform tax rate of 10%, the lowest corporate tax rate in EU. Shipping Company is subject to tax at 4,25% – considered as one of the most competitive shipping center in the world. If your company is wholly foreign owned, a private company is referred to as an International Business Company. English is widely used in commercial and government sectors. There is no legally required minimum amount of issued and paid up share capital of a private limited liability company. Dividends can flow through the Cyprus company totally tax free and the company can be used to take advantage of the extensive network of double tax treaties.
Where to start? HERE
Open up Cyprus company. Download form and sent it to us: tomas[at]startupr.com
Malta as a part of European Union (Shengen Agreement and Eurozone) is considered as one of the most efficient jurisdiction in terms of corporate tax. Malta is more relevant jurisdiction when such company needs to trade with other EU companies and North America. All Malta companies pay 35% in income tax on company profits. However, when this profit is distributed in dividends to the shareholders ( which should be every year) then all those shareholders who are not domiciled in Malta are entitled to claim a refund of company tax of 6/7. This means that the net effective tax suffered on company profits is actually 5%. A holding company should be located in a jurisdiction with excellent legal and financial infrastructure as Malta. The tax ensures that repatriation of suffers minimum or no exposure to tax and creates an efficient exit route for the profits of its subsidiaries.
The refund system works very efficiently and the refund is normally in shareholder’s bank account in less than 2 weeks from the company paying the tax due.
The above makes Malta the lowest tax jurisdiction for NON MALTESE in the whole of the EU. For this reason Malta have been getting around 5 thousand new companies in Malta every year, mostly set up by European investors who wish to reduce their tax costs. Tax is in fact a cost that must eventually be reflected in the price. And hence the lower the tax cost, the lower the selling price, and consequently competitivness.
Download our order form and start your busines!
Incorporate, START your company with US. Download the order list, fill in and send it to us.
In Asia is a lot of opportunities for Small and Medium Enterprises to expand a current business model. There are actually 2 locations where you can start your
business! Singapore and Hong Kong! A few reasons why you should start with your business model in Singapore:
There is no better choice to start your Asian company than in Singapore! One of the most business friendly climate in Asia. General information you can find here. Set up fee, government fee and the whole process is smooth! Company might be opened into a few days upon receiving the funds. You start invoicing your Asian partners or simply use our address as a branch office. There are not difficult yearly requirements e.g. monthly reporting or difficult business registration and burdens from Singapore government. Hong Kong and Singapore have been ranked past 3 years among 5 most efficient cities (countries) on the world by many internationals ranking agencies! Singapore is ranked 5th in the world and 1st in Asia for having the least corruption in its economy. Singapore is among the top 3 in foreign trade and investment.
Attractive tax regime
You can refer to SINGAPORE – Tax Exemption Compnay – Startup
Singapore lies at the center of a major sea route connecting the Far East to Asia, Europe, and the Middle East, which gives the country its strategic importance.
Hello, we would like to point out our present on social networks! It would be very nice if you can become our fan on Twitter and Facebook. It’s where we’ll be putting a lot of our updates from our incorporation service. Become our fan on Twitter and Facebook! Our target it’s to become a platform for entrepreneur who would like to spread out knowledge and even more find the way how to cooperate in different business area or just become our fan we will encourage you to become an entrepreneur!
There is a lot of law firms offering the IPO ( Initial Public Offering) assistance, however once you decide to go public be aware that to be listed at the stock it doesn’t qualify you as a successful company admiring by thousands of investors and on the end efficiently traded! Before you go public pay attention to the company who will secure your marketing and awareness among investors. It’s totally the same what you do now in order to be successful in your business model you have to know how to sell with listed shares is the same! Yours company might be well known between competitors and customers using the particular service however between investors it’s just another company coming to raise a capital! Marketing, marketing and again marketing! The process of coming public it’s simple standard procedure how to gain public money and use it for further company development. Law firms are mostly rigid and don’t bring any innovative solution how to sell your shares, that’s why you should be concerned about the way how to let know to investors that your company is really the one who should get the attention! There is many regulations governing the release of information by the company or any of its advisers in connection with an IPO so called “Publicity restrictions” – the regulations governing the release of information in connection with an IPO are contained in the Companies Ordinace, the SFO, guidelines issued by the SFC (Securities and Futures Commission), and the Listing Rules.
Lear more on the webpage of Securities and Futures Commission. Click here for Advertising Guidelines Applicable to Collective Investment Schemes Authorized under the Product Codes.