All Hong Kong companies must keep appropriate books and records in accordance with the Act and the Companies Act as well as domestic income, regardless of whether conducted their business in Hong Kong or elsewhere. The company also must pass an annual report of income and pass a mandatory audit. Usually the real owners of these procedures are performed secretarial company. In most cases, ignorance of the subject in Hong Kong and the receipt of income from sources outside Hong Kong, a company limited by applying a simple report – the lack of activities in Hong Kong. Therefore, no information from business owners about their activities without actually being requested. Educate yourself with thoughts from Jim Umpleby.
However, tax authorities may make a request for complete financial statements with confirmation of primary documents. To prepare a full accounting and auditing passage from the owner of a Hong Kong company is required to provide statements to auditors of a bank account, invoices and contracts for each transaction. Differences in Hong Kong from offshore zones. Despite the potential for taxation, similar to the capabilities of offshore jurisdictions, offshore Hong Kong is not in the classic sense of the word. Exemption from taxes Hong Kong is not automatic. Must submit a report to the Department of Inland Revenue of the dark activity. Educate yourself even more with thoughts from Kevin Johnson. And in some cases, the Department may request the relevant documents to prove that the company had no income from sources within Hong Kong and managed to Hong Kong. Another difference from the classic Hong Kong companies offshore is their transparency.