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hong kong Accounting Services
hong kong is a free economy that is situated in the fastest growing nation in the world, People’s Republic of China. As an international commercial logistics and financial centre, hong kong also has one of the most favourable tax regimes in the world.Description The law requires hong kong-incorporated companies to prepare audited financial statements. Although there is no requiremen...
Path: Accountinghong kong Type 9 (Asset Management) License
For individuals and corporations seeking to enter the securities and futures markets of hong kong, the Securities and Futures Commission (SFC) is the gatekeeper of standards, administrating the SFO (Securities & Futures Ordinance). SFO stipulates regulated activity and provides detailed definition for each of them, Type 9 license covers the provision of a service to manage a portfolio of securiti...
Path: LicensingHSBC hong kong Bank Account Opening
The hong kong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in hong kong.Account opening: 7-14 working days Overview: From the late 1950s the bank began to grow and diversify by acquiring other banks, including hong kong...
Path: BanksHSBC hong kong Bank Account Opening
The hong kong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. Established in 1865 to finance the growing trade between Asia and Europe, it has become the biggest bank incorporated in hong kong.Account opening: 7-14 working days Overview: From the late 1950s the bank began to grow and diversify by acquiring other banks, including hong kong...
Path: Bankshong kong Limited Company Formation
No taxation on internationally sourced income and location in one of Asia’s most booming hubs make hong kong PLC a popular choice not only for investment.Incorporation: 3 working days+ delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview Positioned at the mouth of the Pearl River Delta on the coast of southern China, ...
Path: Companieshong kong Audit Services
hong kong is a free economy that is situated in the fastest growing nation in the world, People’s Republic of China. As an international commercial logistics and financial centre, hong kong also has one of the most favourable tax regimes in the world.Description All companies incorporated in hong kong are required to appoint qualified and independent auditors to perform annual statu...
Path: AccountingGibraltar and hong kong plan to work together on the fintech sectors development
...the signing of the world’s **first financial Technology Cooperation Agreement**. During recent years Financial technology sector has been rapidly gaining popularity all over the world, therefore, aiming to be Fintech pioneers, **Gibraltar** and **hong kong** were the first ones to enter into an official agreement regarding the development of this sector, thus making this day especially remarkab...
Path: Bloghong kong Securities and Futures Commission changing its previous "opt-in" approach
hong kong’s Securities and Futures Commission (SFC) will stipulate the regulations of all cryptocurrency trading companies operating in hong kong’s jurisdiction. The following activities is an extension of the crypto regulations introduced by the SFC in November last year. hong kong is considered as the base of many major cryptocurrency exchanges, but until November 2019, they were not reg...
Path: BlogGibraltar Goes Fintech: Next Destination - hong kong
...with the financial matters is looking forward to use the newest technologies in their activities. **Gibraltar** is not an exception and its Minister of Commerce, Albert Isola, went on a trip with a delegation regarding the plans on innovations. **hong kong Fintech Week** is an event where major financial service representatives from all over the world gather to discuss their cooperation. Gibral...
Path: BlogThe hong kong Monetary Authority Has Issued New Online Banking Licenses
The hong kong Monetary Authority (HKMA) has recently stated that it is issuing four more virtual banking licenses, bringing the total number of virtual banking license owners to eight. This means that the overall number of banking licenses of various types operating in hong kong is equal to 160. **Norman Chan, the HKMA’s chief executive officer stated:** **“**We are pleased to grant f...
Path: BlogIs Macao prepping to become an alternative to hong kong?
...sification of the economy and include the establishment of a yuan-denominated stock exchange in the region as well as the acceleration of a yuan settlement center, and the allocation of land for Macao to develop in mainland China. Both Macao and hong kong are semi-autonomous regions of China having their own administrative, legal and judicial systems. “One country, two systems” rule grants...
Path: BlogOTC derivatives regime to be updated in hong kong
**The Securities and Futures Commission (SFC) in collaboration with the hong kong Monetary Authority (HMA) have issued a joint consultation proposal in regards to regulations of over-the-counter (OTC) derivatives market in hong kong.** The consultation paper is purposed to strengthen the regulation of the OTC market. In particular, the paper consists of various recommendations related to sup...
Path: BlogiFX EXPO Asia, hong kong 2019
Thank you for taking the time to meet with us last week at iFX EXPO Asia, hong kong 2019. It was a pleasure for us to see our long-term customers and meet new ones as well. We enjoyed meeting you and were glad that you had a chance to see our products and some of our news during the exhibition as well as to discuss your requirements. For those of you who did not have the opportunity to meet u...
Path: BlogNew solution for suspicious transactions report in hong kong
The hong kong government is looking to upgrade the process of filing suspicious transaction reports by way of the introduction of a new solution – **“e-STR”**. As it stated on the official website of the Securities and Futures Commission: *“In order to enhance the capacity in suspicious transaction report ("STR") processing and shorten the time required for STR reporting entities t...
Path: Bloghong kong regulator raises investor compensation limits
The Investor Compensation Regime operates in hong kong since 2003. As part of the regime, the compensation fund provides a compensation coverage but only covers losses in respect of securities and futures contracts that are listed on the SEHK (The Stock Exchange of hong kong) and HKFE (hong kong Futures Exchange), as well as any related assets. Likewise, only losses attributable to the default o...
Path: BlogCyber risks rules compliance. New rules in hong kong
Top hong kong trading companies informed their customers on upcoming changes of security and rules on **cyber risks**. These changes were released by the **Securities and Futures Commission (SFC)**. As of April 27th, 2018, **two-factor authentication will become obligatory for every company that provides trading services in hong kong**. Such brokers as Monex Boom, Z.com, Phillip Securities (H...
Path: BlogInternational Monetary Fund demands tax reform from hong kong
**hong kong economy is one of the most attractive among the international entrepreneurs**. This is why the International Monetary Fund issued tax reform recommendations for this jurisdiction lately. For hong kong economy to stay competitive and flexible at the same time, it is vital to **rework tax structure** and change the approach. Nowadays, hong kong government receives the most revenue ...
Path: BlogNew tax relief measures in hong kong budget
The new **hong kong** budget was released recently, and **Offshorelicense Ltd** analysts have prepared the information on **2018 tax novelties** for you. The most important changes apply to the **taxation of environmental-friendly technologies and to individuals’ taxation**. The relevant changes are listed below in greater details. • The companies, that invest in green technologies, will ...
Path: Bloghong kong introduced new rules for Virtual Asset Fund Managers
**hong kong has introduced a new regulatory framework for managers controlling virtual asset portfolios.** New terms and conditions released by hong kong’s Securities and Futures Commission (SFC) have emerged in the light of increasing concerns about the risks associated with investing in crypto assets. Regulatory standards for virtual asset fund managers provide detailed guidance on risk manag...
Path: Bloghong kong Type 3 (Leveraged Foreign Exchange Trading) License
...ion brokers with which the clients open accounts for trading in securities, futures and/or leveraged foreign exchange contracts. An applicant for a Type 3 license is required to submit the appropriate application to the Commission. Benefits of hong kong licensed corporation: Stability and reputation English is an official language, as well as the main business language No Corporate...
Path: LicensingHow political unrest affects cryptocurrency?
The political unrest and change are currently taking place in many parts of the world. A series of high-profile events continue unabated around the globe. Brexit in the UK, an impeachment trial in the United States, protests in hong kong, India, Iraq, trade war and economic crises worldwide. We have stepped into 2020 accompanied by media headlines predicting a global economic recession. Altho...
Path: BlogHungary is on its way to become an offshore heaven
...eign corporate owners, which makes it very beneficial for multinational companies, which can transfer their profit abroad without any reduction**. Also, Hungary has more than 80 double taxation treaties, including all of EU countries, Canada, China, hong kong, Singapore, Switzerland and the US. After the government decreased corporate tax in the last few years, its current rate is only 9%, whi...
Path: BlogThe Offshorelicense website launch. What it brings to us?
...d website. Everything you need to know about offshore establishment, licensing, performing banking and merchant actions, binaries and our other specializations can be found here. Don’t also forget that we are present all over the world: in London, hong kong, Cyprus, Prague and Riga. We work for you internationally, using most professional staff and keeping your business safe in every area.
Path: BlogSFC Forewarns Retail FX Brokers To Stay Away From Doing Business In China
hong kong brokers may target Mainland customers unlawfully. The Securities and Futures Commission (SFC) has recently published a statement warning brokers in relation to conducting business in mainland China. The SFC pointed out that the Chinese State Administration of Foreign Exchange (SAFE) not long ago has prohibited a Mainland's China entities to get traders to deposit funds with brokers ...
Path: BlogTax storm. British Virgin Islands ceased to be a "haven" for shall companies
..., new requirements were introduced in all dependent territories of the United Kingdom (Bermuda, Cayman Islands, Isle of Man) and its crown possessions (Jersey, Guernsey). It is also known that other well-known offshores, such as the Bahamas, Belize, hong kong, Seychelles and so on, will not be left aside.
Path: BlogWhy Moving Your Business Offshore Sounds Reasonable
...ore going offshore, especially with banks. **Reaching Every Market and Giving Access to Your Market.** Some international markets are hard to reach and here you can use offshore as a way to go in. For example, setting up an offshore company in hong kong can get you closer to the Chinese market. It is a wide-known fact that it is one of the most detached markets in the world. At the same tim...
Path: BlogUsage of artificial intelligence for financial institutions in Singapore
...ligence will be the key points of this document. It will also extend to every step of AI usage and will be useful for companies with any of financial services specializations. What other countries have also decided to adopt rules of AI usage? The hong kong Securities and Futures Commission (SFC) is on its way of developing recommendations as well. In their opinion, customers and users of financ...
Path: BlogNew beneficial owner policy in British Virgin Islands
...iscussing implementation of new rules for beneficial owners**. It is a problem of particular interest due to growing number of Asian beneficial owners of BVI companies. **BVI House Asia**, financial services promotion agency, organized a seminar in hong kong to discuss and inform Asian entrepreneurs about newest regulations. Above mentioned regulations are mostly related to non-contentious pro...
Path: BlogChinese financial services opening up to foreigners
...ss adjuster services. Basically, **companies with foreign ownership will be treated the same way as those with domestic capital**. Moving forward to stock markets - changes will apply as well. From the May 1st, 2018, daily stock quota between the hong kong and mainland will change. hong kong-bound investment will be increased to CNY42bn and Shanghai-bound and Shenzhen-bound to CNY52bn for inves...
Path: BlogCayman acknowledged as a top offshore financial center
...olitical situations. This time most popular offshore financial centers retained their positions in rating. For example, despite of Brexit concerns, London stays at the top of the ranking but New York is closing in. Also, in the top ten we can see hong kong, San Francisco and Shenzhen. However, Beijing and Zurich dropped out of the 10 best financial centers in the world. What about the drops ...
Path: BlogThe grand taxpayer data swap is approaching
...ar, stated OECD. According to the latest statistics, during this year’s April and June, a high level of activity was observed regarding the number of jurisdictions participating in the Convention. Since the beginning of May, Macedonia, Grenada, hong kong, Liberia, Macau, Paraguay, and Vanuatu have joined the Convention, bringing the total number of participating jurisdictions up to 124. T...
Path: BlogBitmain's IPO: looming threats and insights from a Bear market
When Bitcoin mining and ASIC miner-producing juggernaut **Bitmain** released its IPO prospectus to the Stock Exchange of hong kong in September 2018, the world got to take a peek at some wild growth rates in the cryptocurrency industry not purely linked to astronomical gains from market speculation. The most impressive component is the leap from Bitmain’s 2016 revenue ($278M) and profit ($11...
Path: BlogTop 5 crypto-friendly jurisdictions
...DLT (distributed ledger technology). With regards to cryptoregulation, they had long adopted a free-hand policy for crypto business which significantly increased the level of attractiveness of this jurisdiction among other related projects. **hong kong** hong kong, even though it is not a separate state, but a region that has the status of SPA (Special Administrative Region) within China...
Path: BlogHow to store your crypto with the less tax consequences
...ing of tax season is pushing cryptocurrency holders to figure out how to declare their coins.** In Singapore, for example, cryptocurrencies are determined as goods that are subject to the seven percent Goods and Services Tax. At the same time, in hong kong, cryptocurrencies are defined as virtual commodities that are not taxed as goods, but any profit made in trading shall be treated as income....
Path: BlogPublic Bank Berhad Account Opening
...cluding structured financing, corporate advisory, merger and acquisition, stock-broking, and debt restructuring advisory services. It operates through a network of 259 branches and 2,000 self-service terminals in Malaysia, 83 branches in hong kong, 3 branches in China, 28 branches in Cambodia, 7 branches in Vietnam, 4 branches in Laos, and 3 branches in Sri Lanka.Payment processing opt...
Path: BanksMaybank Account Opening
.... Maybank, through Maybank Philippines Incorporated, has 79 branches in the Philippines. Maybank also has a banking presence in all of the other Southeast Asian markets. It also operates branches major global financial centres like New York, London, hong kong and Bahrain.Payment processing options MasterCard, Visa N.B. Bank may change its tariffs at any time thus please visit bank’s ...
Path: BanksCIMB Bank Account Opening
...ing deals which showcase an ability to innovate and help the clients achieve their goals. CIMB also has an extensive retail banking network of branches serving more than 12 million customers. Beyond ASEAN, the Bank also has a presence in China & hong kong, India, Sri Lanka, Korea, the US and the UK. CIMB is ranked among the top banks in ASEAN, garnering numerous awards across the y...
Path: BanksMaybank Account Opening
.... Maybank, through Maybank Philippines Incorporated, has 79 branches in the Philippines. Maybank also has a banking presence in all of the other Southeast Asian markets. It also operates branches major global financial centres like New York, London, hong kong and BahrainPayment processing options MasterCard, Visa N.B. Bank may change its tariffs at any time thus please visit bank’s w...
Path: BanksPublic Bank Berhad Account Opening
...cluding structured financing, corporate advisory, merger and acquisition, stock-broking, and debt restructuring advisory services. It operates through a network of 259 branches and 2,000 self-service terminals in Malaysia, 83 branches in hong kong, 3 branches in China, 28 branches in Cambodia, 7 branches in Vietnam, 4 branches in Laos, and 3 branches in Sri Lanka.Payment processing opt...
Path: BanksCIMB Bank Account Opening
...ing deals which showcase an ability to innovate and help the clients achieve their goals. CIMB also has an extensive retail banking network of branches serving more than 12 million customers. Beyond ASEAN, the Bank also has a presence in China & hong kong, India, Sri Lanka, Korea, the US and the UK. CIMB is ranked among the top banks in ASEAN, garnering numerous awards across the y...
Path: Banks