Companies in Hong Kong in international tax planning. Application firms in Hong Kong - one of the most effective tools of international tax planning. Due to local legislation and the prestige of jurisdiction in international trade, this country can not be called offshore, but the tax advantages which provides that jurisdiction, not inferior to offshore. This Hong Kong - one of the few in the world of low-tax jurisdictions, which enjoys the respect of even the most fervent opponents of tax competition and offshore business. Hong Kong's legal system is based on English common law. Although the basis of the economy are the monetary and foreign trade operations in Hong Kong in the shipbuilding, ship repair, textiles, clothing, electrical engineering, radio-electronic, petrochemical and other industries, export-oriented. Major trading partners (excluding mainland China) - United States, Japan, United Kingdom, Taiwan and other monetary unit - the Hongkong dollar (HK dollar). Hong Kong for many years in a row is headed by an annual global rating of economic freedom compiled by the Wall Street Journal and the Foundation Heritage Foundation. In 2007, the authors of the study was awarded the Hong Kong 89.3 points out of 100 possible, noting the low tax regime and flexible labor market in the jurisdiction. Hong Kong (Hong Kong) - Special Administrative Region of China, is located on the coast of the South China Sea, consists of Hong Kong Island, Kowloon Peninsula, and several smaller islands. Area - 1066 sq. km. Population - 6,8 million (2000), over 98% - Chinese. Official language - Chinese, but English is widely spoken language. Within 155 years the territory of Hong Kong was in the possession of the United Kingdom. July 1, 1997 Hong Kong was returned to Britain under the sovereignty of China and became officially known as a Special Administrative Region (SAR) of Hong Kong China. Hong Kong has kept a broad degree of autonomy, gained independence in the administrative, legislative and judicial systems (except for defense and foreign affairs), has retained its status as a free port, a separate customs area, the right to economic and cultural ties with various countries and international organizations. The special status of Hong Kong will continue at least until 2047, subject to the principle: "one country - two systems". General characteristics of companies registered in Hong Kong. In Hong Kong, the possibility of local companies following organizational-legal form: Private company limited by Shares - closed company with limited liability on the shares. The company can be a maximum of 50 shareholders. The company's shares may not be offered at public sale, and transfer of shares requires the approval of the general meeting of shareholders. Public Company Limited shares - a public company with limited liability on the shares. The company has no maximum number of shareholders. Limited Partnership - Limited Partnership: a maximum of 20 partners, which may be natural or juridical persons of any residence. Company limited by guarantee without share capital - a company limited by guarantee for the participants, without share capital. Possible registration of branches of foreign companies and trusts. In most cases in international business used closed limited company by shares. This is the organizational form will be considered later. January 13, 2004 came into force a new law on companies in Hong Kong. In accordance with this law the company must have at least one director and shareholder. The only director of a private company can not be appointed as company secretary. Directors and shareholders may be both physical and legal persons. Directors / shareholders can be of any nationality and resident in any country. Full details of directors and shareholders appear in the Public Registry and is a public and open. The law granted the concept of "shadow director", which means the person, in accordance with the instructions and directions which the Director or a majority of directors operate on a regular basis. This definition does not affect the lawyers, accountants and other professional advisers. Director may be dismissed from his post of a simple majority of shareholders, instead of pre-existing requirements - at least three-fourths vote of the shareholders. Liability of shareholders is limited to the size of their equity participation in the authorized capital of the company, regardless of whether the capital paid or not. As in England, in Hong Kong there is a difference between the declared and paid-up share capital. Since the amount of the annual state tax in Hong Kong depends on the amount of registered capital, usually stated capital of HK companies is 10 thousand Hong Kong dollars. The minimum issued capital of 2 shares of the value of HK $ 1 each. The registered office must be located within Hong Kong. In addition, each company must be appointed local secretary (which can be both physical and legal entity, but necessarily resident in Hong Kong). The registered office must be kept the original Certificate of Incorporation and other constituent documents of the company. Customers who ordered the registration of a company receives a set of notarial copies of company documents, duly certified by the Apostille. All companies must hold an annual meeting of shareholders (not necessarily in the territory of Hong Kong). The duties of company secretary is a protocol for the meeting of Board of Directors and the annual general meeting of shareholders, preparation of notices of annual general meeting, a protocol of the annual general meeting, preparation of annual report (Annual Return) and submitting it to the Registrar of Companies, checking compliance with the requirements of the Companies Act , filling out forms, government departments, sent the company during the year. In Hong Kong there are requirements to the name of the company. Prohibited names related to the state or the monarchy (King, Federal, etc.). Names, anticipated financial activities (eg, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Kaifong, public transport, utilities, savings, tourist association, Trust, Trustee, metro, bank, insurance, reinsurance, fund management, asset management and investment fund, as well as their equivalents in other languages), subject to licensing.