Today, people are finding different ways to earn money. This is the reason why the market has witnessed different types of business. Each of these business deals in different goods and services and each is fulfilling some kind of market demands. There are a type of business which is set up in a particular country but the products and services they manufacture are always exported for the use of other countries. This type of firm is known as an offshore firm. If a person lives in Hong Kong and wants to set up a hong kong company which deals in offshore commercial activities. This article will tell a person about the eligibility criteria to enjoy the tax benefits of hong kong offshore company.
What Are The Eligibility For Tax Benefits In Hong Kong Offshore Company?
Not all business firms based in Hong Kong can enjoy the tax benefits of offshore enterprises. In order to get one your company should follow the below criteria:
- The address of the company should be of overseas.
- None of the employees of the firm should be based in Hong Kong.
- All the customers of the company should lie beyond the national borders of the country.
- The money which the company receives on behalf of the client should not be transacted from an account based on Hong Kong.
- The products of the firm should not be sold within the national borders of Hong Kong.
Tax can be a matter of concern for the business owner. This is the reason why one should try and save more and more so as to earn more profit for the company.