In 2012 , more than 80% of business and financial investment companies choose to register oversea(offshore) companies.
Here is the offshore company market share ratio: Seychelles Company accounted for 40% , Hong Kong company accounted for 30% , BVI company accounted for 15%, the other companies accounted for 15% share. Now more and more businessmen prefer to choose Commonwealth Seychelles.
1.Hong Kong Company`s name has to end with Limited
Seychelles company`s name uses to end with Limited, Corporation, Incorporated, SociètèAnonyme, Berhad or their short form.
2.Both Hong Kong Company and Seychelles company do not need to pay tax for the oversea profit.
But Hong Kong Company has to keep the accounting documents to write accounting books, once the account being used, and make annual audit every year.Though all the profits are from oversea area, you still have to make the accounting to prove that and avoid the profit tax.
However, Seychelles company do not need to make the accounting, the tax fee is free.
3.Hong Kong company will receive its first tax return 18 months later after it established , and then by once a year. But Seychelles company has no tax return at all !
4.The histroy records of Hong Kong company are available to search, including the information of diretors,shareholders,secretary companies,share transfer records and the annual audits .The Competitors and cooperative partners can search all documents of your companies easily.
But for Seychelles company, the information of directors and shareholders are confidential, the privacy is much better.
1. Hard to open account: by the end of 2012, Hong Kong banks started to restrict the BVI account, it`s still difficult for BVI company to open an account in Hong Kong currently. For our clients, BVI offshore company is not a good choice.
Seychelles company has good banking reputation, the dfficulty of opening an account is basically the same as Hong Kong company.
2.No more privacy, function changed: For Chinese customers, BVI is used for holding, but now, since BVI and the Chinese government signed the information exchange agreements, BVI's privacy has gone , and it`s function has changed. For trade enterprises, or clients who want to keep personal identity confidential, we suggest not to use the BVI.
3.Hard to Maintain: The clients who have a BVI company and decide to use it continiously , should prepare to face the bank's strict investigate & annual inspection. Although the Registration administration do not require accounting and audit, however, based on real feedback, banks are likely to require the latest audit report, the financial statements, or business receipts of some recent transactions , some clients` account may even be closed directly.
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