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There are different pros and cons for setting up a HK company compared with setting up an offshore (Seychelles / BVI / Marshall Islands) a BVI company. As each client’s situation and requirement is different case by case, client is suggested to seek professional advice before processing. 

Below please find the a comparison of HK company and BVI offshore company in terms of various main categories :

HK Company Offshore Company

Corpoarte Director

Under the new Companies Ordinance, every HK company is required to appoint at least 1 natural person director.

  • Only having corporate director(s) is not allowed.

 

No such natural person requirement on directors, which means the company can appoint pure corporate director(s).

  • It might not provide high confidence to your targets.

Nationality of Director

Unlike forming a Singapore company that requires the foreigner to partner up with a local Singapore citizen, there is no limit on the nationality of the director(s) for setting up a HK company.

There is no limit on the nationality of the director(s) for setting up an offshore company.

Reputation Standing

HK company earns a high reputation standing as an entity type when compared with other offshore jurisdictions here in HK, mainly because of its sound regulatory system and financial infrastructure.

On the contrary, due to the relatively loose regulatory environment, offshore jurisdictions may give your partners and clients a rather flimsy impression when considering your business background.

Taxation

Corporate Profits Tax rate is 16.5% in average (subject to change every year) for business operated in HK.

Easier to get tax exemption if the business is operated offshore. It is also not required to prepare audited financial reports generally. 

Privacy Protection

Relatively low level of privacy protection since the registration is open for public search.

Easier to achieve anonymity & privacy protection as the registration is not open for public search. 

Opening Bank Account

Easier to open company bank account even for foreigners. The account opening fee is low too.

More proofs, documentations and requirements are needed to open bank account. And the account opening fee is higher compared with a HK company. 

Enter into China Market

HK company setup could be a better choice if you plan to set up a company or rep office in China later.

Not a very preferred entity as certain restrictions might apply. Also, you could not enjoy CEPA benefits. 

Discontinuance of Business

It is required to follow deregistration procedures. Generally the whole process will take around 6 - 9 months.

Easier process to close down the company. 

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