Hong Kong
Non-profit Organization Charitable Institution

Incorporation of a company limited by guarantee in HK

Hong Kong Company limited by guarantee is mainly established for the purposes of enhancement of education / training (like association or society), religion, relief of poverty, environmental protection, trust and foundation, and betterment for the community. Most companies fallen into this type is not for profit. Please note that it may not be a charitable institution, a group of members may form this type of company for pursuing their interests for or not for profit.

The basic and minimum structure of a Hong Kong company limited by guarantee is having at least 2 members, 2 directors and 1 company secretary. The address of the registered office and secretary must be in Hong Kong. The company is obliged to file Annual Return annually with the audited accounts.

Some tax advantages to ACI – tax exemptions

Application for Approved Charitable Institutions

If you have your existing Hong Kong Company, with not-for-profit motive, and consider it as non-profit organization (“NPO”). You would like to apply for approved charitable institution, we may assist the application. During the process, client is required to amend / modify the memorandum and articles of association (M&A’s) to fit such purposes.

We will prepare the documents and assist the application.

Incorporation fees (Euros)

• Registration and Processing Fees in HK – € 2,925.00
• 1st year annual maintenance fees – € 1,200.00 /annual (*)
• BRF – Registration Fee to HK Government (HK$ 2,600) – € 0.00
• Registered office in Hong Kong, as legally required – € 680.00 /annual
• Prepare and draft of Memorandum & Articles of Association – € 325.00
• Local HK Company Secretary, as required – € 250.00 /annual
• Filing annual returns – € 980.00 /annual
• Opening of Corporate Bank Account in HK with ABN AMRO, HK – General disbursements – € 870.00 (optional)
• 2nd set of Certified Statutory documents for bank account opening purposes – € 350.00
• Hand Plier Company Seal – € 75.00
• DHL Delivery of documents – € 70.00

Annual fees

The Annual Fees are concerned with the following services:

Annual Statutory Fee, which includes:

• Local incorporation agent to provide you all services relating company matters (registered agent facilities);
• Filing statutory returns with official departments, required, to be the company active and alive;
• Liaison with the registered office and the registered agent in the jurisdiction of incorporation, attending to the payment of the Annual Government License Fees and other government fees.

Annual Compliance Fee, which includes:

• Attending to routine compliance matters (inclusive of periodic file reviews), reviewing official correspondence received and other routine matters incidental to good corporate governance.

Full serviced Virtual Office

A service provided for those who incorporate offshore but simultaneously wish to offer the company a high degree of credibility internationally, and simultaneously grant everyone, client, provider, or official entities, to contact you, and that such contact will reach you, either by mail, phone or fax, and that you can receive it and process it.

• Dedicated and exclusive telephone number in HK – € 750.00 /annual
• Set up fee – € 50.00
• Initial deposit to cover call diverting to your phone line outside HK – € 500.00

• Dedicated and exclusive fax number in HK – € 550.00 /annual
• Set up fee – € 50.00
• Initial deposit to cover fax re-forwarding charges – € 200.00

REMARK:
You can select and contract any of the above services with us.

Nominee Services
An optional service for condifentiality and privacy

Worldwide corporate bank accounts

International recommended banks:

• HSBC, Panama
• IndyMac Bank, USA
• Lloyds TSB Bank, Isle of Man and Jersey
• Loyal Bank, St Vincent & The Grenadines
• National Bank of New Zealand, Auckland
• NBC Nuevo Banco Comercial, Uruguay, Montevideo
• Parex Bank, Latvia
• Provident Bank, Belize
• Rietumu Bank, Latvia
• SG Hambros Bank, Gibraltar
• Standard Bank, Isle of Man, Jersey and Mauritius
• Amongst others…

If either of these banks or jurisdictions to set up your corporate bank account suits you, we shall be very pleased to assist you.

Our services before you deal directly with the bank by yourself:

Remarks:

(a) If extra legalization and/or corporate documents are required by the bank, additional fees apply;
(b) Bank own account opening fees and costs (if any) will be charged from the first deposit to your account;
(c) Bank fees and costs are not included into our bank introduction fees;
(d) Any of the banks above always have their final word, after due diligence processed, by accepting you or not as their customers, depending on their on evaluation; however, you are always free to open your company’s bank account by yourself, with some other bank of your selection.

Disclaimer:

(1) The above description is not an offer or soliciting to provide financial services of any kind inclusive but not limited to buying any security or investment product or receiving an investment advice from us. Bank fees and account opening terms inclusive due diligence requirements are subject to change from time to time without notice;
(2) After the account has been opened you deal directly with the bank by yourself, entirely at your own risk and at your sole discretion; we may not be responsible for any changes in the legal or financial status, requirements, fees and commissions of the aforesaid Banks.

In case you may have any further matter or question to clarify, please don’t hesitate to contact us, before taking your decision.