| DETAILS |
Hong
Kong |
Anguilla* |
Belize |
Cook
Islands |
Samoa |
Singapore |
Seychelles |
British Virgin Islands |
Nevis |
| Company Setup |
| Type of Company |
Private Limited |
IBC |
IBC |
IC |
IC |
Private Limited |
IBC |
BC |
NBC |
| Standard authorized share capital |
HK$10,000 |
US$50,000 |
US$50,000 |
US$1,000 |
US$1,000,000 |
S$100,000 |
US$100,000 |
N/A ^ |
US$100,000 |
| Minimum paid up capital |
HK$1 |
US$1 |
US$1 |
US$1 |
US$1 |
S$1 |
US$1 |
US$1 |
US$1 |
| Incorporation time** |
7 days |
1 hour |
2 days |
1 day |
1 day |
2 days |
2 days |
2 days |
2 days |
| Law followed in the jurisdiction |
Common |
Common |
Common |
Common |
Common |
Common |
Common |
Common |
Common |
| Corporate Governance |
| Minimum number of shareholders
*** |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
| Nominee shareholders allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Minimum number of directors |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1**** |
| Corporate directors allowed |
Yes |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
| Local directors required |
No |
No |
No |
No |
No |
Yes |
No |
No |
No |
| Company secretary required
+ |
Yes - Resident |
No |
No |
Yes - Resident |
Yes |
Yes - Resident |
No |
No |
Yes |
| Local registered agent required |
No |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
| Local registered office required |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Filing, Tax and
Government Fees |
| Filing of annual return |
Yes |
No |
No |
Yes |
No |
Yes |
No |
No |
No |
| Filing of audited accounts |
Yes |
No |
No |
No |
No |
Yes |
No |
No |
No |
| Filing of tax return |
Yes |
No |
No |
No |
No |
Yes |
No |
No |
No |
| Annual license fee/government
fee ++ |
US$350 |
US$200 |
US$100 |
US$300 |
US$300 |
Nil |
US$100 |
US$350 |
US$220 |
| Beneficial Owner's Public disclosure
# |
No |
No |
No |
No |
No |
No |
No |
No |
No |
| Taxation of Profits |
Nil on Foreign
Profits and 17.5% on Hong Kong Sourced Profits |
Nil |
Nil |
Nil |
Nil |
Nil on Foreign
Profits and 20% on Singapore Sourced Profits |
Nil |
Nil |
Nil |
| Other useful information |
| Bank accounts offered in Hong
Kong |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
Yes |
| Bearer shares allowed |
No |
Yes## |
Yes## |
Yes## |
Yes## |
No |
Yes## |
Yes## |
Yes## |
| Migration of domicile permitted |
No |
Yes |
Yes |
Yes |
Yes |
No |
Yes |
Yes |
Yes |
| Shelf Companies offered |
Yes |
Yes |
Yes |
No |
No |
No |
Yes |
Yes |
Yes |
| ^ |
With effect from 1 January 2006, the
concept of authorized capital is abolished. Business
companies are authorized to issue standard
50,000 shares of US$1 each. |
| * |
GCSL can incorporate and register Anguilla
companies on-line through their secured and digitally
encrypted ACORN system. |
| ** |
Companies generally can be incorporated
within two days on received of completed due diligence
documents. However, a minimum of seven working days should
be allowed to receive the company documents. |
| *** |
Singapore requires two shareholders
if they are natural persons. |
| **** |
Nevis requires a minimum of one director
per shareholder to maximum of three directors. |
| + |
GCSL suggests the appointment of a company
secretary in order to setup bank and brokerage accounts,
maintain statutory books and to deal with ongoing corporate
matters. |
| ++ |
With the exception of Anguilla,
and Singapore, any increase in authorized capital
will have a corresponding increase in government fees.
Please inquire for specifics. |
| # |
Name of the beneficial owners must be
known to GCSL and must be disclosed to a bank or brokerage
firm to open an account. |
| ## |
Bearer Shares are permitted, but they
must be retained by a licensed registered agent in the
jurisdiction or GCSL. |
|
