Comparison among major jurisdictions
Jurisdictions British Virgin Island Cayman Island Delaware Hong Kong Samoa Seychelles Singapore United Kingdom Labuan Taiwan China WOFE Basic Information Political Stability Good Good Good Good Good Good Good Good Good Good Good Good British Based Legal System Yes Yes No No Yes Yes Yes Yes Yes Yes No No Type of Company BC Exempted Corporation LLC Ltd ICA IBC Pte LtdC Pte Ltd Ltd Ltd Ltd Migration of Domicile Permitted Yes Yes Yes Yes No Yes Yes No Yes Yes No No Tax by Jurisdiction on Offshore Profits Nil Nil Nil Nil Nil Nil Nil Nil Nil 3% or RM20,000 22% or up 28% or up Corporate Requirements Minimum Number of Shareholders 1 1 1 N/A 1 1 1 1 1 1 1 1 Minimum Number of Directors 1 1 1 N/A 1 1 1 1 1 1 1 1 Corporate Directors Permitted Yes Yes No N/A Yes *N Yes Yes No Yes *N Yes No No Secretary Required No No Yes No Yes *F Yes No Yes No Yes N/A Yes *S Legal Person/Representative N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A 1 Standard Authorised Capital/Shares 50,000 shares 1,500NPV *H N/A N/A US$1M US$1M N/A N/A N/A N/A N/A Bearer Shares Permitted Yes *E No No N/A No No No No No No No No Local Requirements Registered Office/ Registered Agent Yes Yes Yes Yes Yes Yes Yes Yes *M Yes *M Yes Yes Yes Company Secretary No No No No Yes Yes No Yes *F No Yes N/A N/A Local Directors No No No N/A No No No Yes No No No No Local Meetings No No No No No No No No No No No No Due Diligence / Disclosure Due Diligence Required Yes Yes Yes Yes No Yes Yes Yes Yes Yes No No Disclosure of Beneficial Owner on Public File No *BA No *BA No *BA No *BA No No *BA No *BA No No No *BA Yes Yes Government Filing of Register of Directors Yes *P Yes Yes N/A Yes Optional Yes *R Yes Yes Yes Yes Yes Government Filing of Register of Shareholders Optional No No N/A Yes Optional Optional Yes Yes Yes Yes Yes Annual Requirements Annual Return No Yes Yes No Yes No Yes Yes Yes Yes No No Audited Accounts No No No No Yes No No Yes *D No *D Optional Yes Yes Chinese Language Features Chinese Name Allowed on CI Yes Yes No No Yes Yes Yes No No Yes Yes Yes Chinese M&A Available Yes No No No Yes Yes Yes No No No Yes Yes Days of Incorporation (Approx) English Name 8 14 2 2 1/8 *O 8 8 5 2 30 N/A N/A Chinese Name N/A N/A N/A N/A 1/8 *O N/A N/A N/A N/A N/A 48 60 English & Chinese Name 8 25 N/A N/A 1/8 *O 8 8 N/A N/A N/A N/A N/A Shelf Company 2 No No No 1 2 2 No No No No No Incorporation Price HK$7,200 HK$23,200 HK$9,000 HK$9,000 HK$4,388 HK$6,200 HK$5,900 HK$28,000 HK$6,000 HK$37,830 HK$24,000 HK$20,000
What services will Accolade Virtual Service Centre provide?
We provides comprehensive client services, including answering telephone, receiving and dispatching faxes, forwarding commercial letters and parcels, and processing import/export documentation etc. on behalf of the clients.
Is there any difference between service of company secretary and commercial secretary?
According to the Hong Kong government, every Hong Kong company should employ a Company Secretary, whether a resident or company in Hong Kong, to facilitate contact with government and process the documents to and from government. Commercial secretary is responsible for customized commercial services, including answering telephone, receiving and dispatching faxes, collecting and sending letters and parcels, etc. The advantage of commercial secretary lies in building a company's corporate image, equivalent to having its own staff.
Can we use secretary services to answer calls from customers in order to improve our corporate image?
Yes. We provide business centre service, where we have professionals in your name to answer calls via a dedicated line available for client use, to promote your corporate image.
Is there any difference between registered address and correspondence address?
The registered address is the legal and operating address of a Hong Kong company, to which letters from government will be posted. Correspondence address is used for receipt of commercial letters and parcels.
Since there is no office in Hong Kong, how can we have professionals to answer telephone?
We provide clients with dedicated telephone line services, where our professionals, in your name, answer the calls and record the message, then forward the message to clients via telephone, email or SMS. In addition, we also provide dedicated fax line, where received fax will be forwarded real-time to designated email address.
What is “Call Forward Service”?
"Call Forward Service" means a Hong Kong fixed network commercial telephone number (that is, beginning with "2", for example, 2××× ××××, and in the same way, beginning with "3", "6", "8", or "9", which is merely a mobile telephone number instead of a fixed network telephone number), connected to a telephone number in the designated country or region. Wherever this number is dialed up, the telephone can be directly answered. "Call Forward Service" not only promotes a company's corporate image in Hong Kong, but also increases its efficiency of operation.
Can Accolade provide Customs Brokerage Service in Hong Kong?
Yes. We provide Customs Brokerage and Banker's L/C Handling Services, including preparation of import/export documents, processing of banker's L/C (receiving, issuing and document against bank acceptance) and processing of customs entry.