22.20 GREECE

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .

22.21 GRENADA

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .

22.22 GUERNSEY

Guernsey is the second largest Channel Island after Jersey . It also enjoys a high degree of respectability in the world's financial circles. There are no political parties and the constitution dates back to 1205. It boasts one of the largest reinsurance markets in the world. The commercial law is constantly reveiwed and updated.
An International Company may qualify for tax exemption in Guernsey and yet be registered for VAT for European trading purposes and get the benefit of certain tax treaties. This may be very useful for companies trading within the EU . Bearer shares are not permitted and beneficial owners must be disclosed. The minimum capital duty is GBP 50 and the annual fees to the government are GBP 600. Registration can be accomplished within a week. Shelf companies are not available. The companies' name must end with the word "Limited". Certain words, e.g. "Insurance", "Assurance", etc. require further approval.
(Courtesy of the Baltic Banking Group).

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .

22.23 HONG KONG

Hong Kong has become the world's eighth largest trading company calculated in terms of total value of trade undertaken. Hong Kong is the seventy biggest importer of goods and the ninth biggest exporter. This is an astonishing achievement for a territory with a polulation of only 6 million. After the second world war, many of the Shanghai traders set up shop in Hong Kong. The British administration, consistent with British imperial tradition, allowed their businessmen maximum freedom. This combination has resulted in a standard of living for Hong Kong residents that is now higher than that of Germany and France. Clearly freedom pays extraordinary benefits when combined with hardworking and smart businessmen. Since the take over of Hong Kong by mainland China there has been much speculation about communist intentions. The Chinese are businessmen first and socialism has been redefined to mean whatever works. The reality of what has in fact happened on the ground supports the view that Hong Kong is taking over China.

Hong Kong Bank Accounts

As well as being a major trading center Hong Kong is also one of the world's major financial centers and the expertise of the banks reflects this. The Hong Kong banking system is amongst the most efficient in the world and Hong Kong banks are particularly well prepared to process letters of credit and import/export documentation and also to open accounts through whick stocks and shares can be traded on the world's major stock exchanges.

Hong Kong as an Offshore Administrative Base

The concept of residence has no applicability to Hong Kong tax law. Only Hong Kong source income is subject to Hong Kong tax. For this reason Hong Kong is a suitable base from which to administer an offshore company without tax consequence provided that the company does not do business with other Hong Kong residents. This is one of the reasons why the use of offshore companies by Hong Kong residents has proliferated to such a great extent. Offshore companies can conveniently have Hong Kong based directors, a Hong Kong bank account and a Hong Kong office address without being brought into the Hong Kong tax net. Most other countries of the world operate a residency based tax system and care therefore needs to be taken to ensure that the offshore company does not establish a permanent place of business within those countries or is managed and controlled from those countries. For example, an offshore company which had U.K. based directors or which established a place of business within the U.K. may become liable to U.K .tax on its worldwide income. A Hong Kong company does not have to state its registered office address or place of incorporation on its letterhead. This would give the non Hong Kong offshore company the added respectability of a Hong Kong persona combined with the added flexibility and ease of administration of an offshore company.

There is a capital duty of 0.6% and an annual fee of HK$75. There are no double tax treaties and no restrictions on dealings in currencies. Bearer shares are not permitted, registration takes 3 weeks, however shelf corporations are available. An annual audit is required.
(Courtesy of the Baltic Banking Group).

Find the contact names, addresses, numbers and information for local government offices, banks, accountants, company formation services, investment and management companies, advisors, experts, maildrops, real estate agents and other useful local contacts in the THE OFFSHORE MANUAL & DIRECTORY .