Shell Company refers to a limited company that has been registered but has not actually carried out business operations. These companies usually have complete incorporation documents and legal status, but do not actually have substantial business activities.
Key features of a shelf company:
– Have complete incorporation documents and legal status.
– Lack of substantial business operations and transaction records.
– Compliance with basic statutory requirements and annual filings.
– Can be transferred and used instantly.
– Usually hold a shelf company bank account to apply for the application.
Shelf Company Tax Filing Notice:
- Annual Returns:
– Submit annual returns to the Companies Registry annually to update the company’s information.
- Tax Returns:
– Even if there is no business income, the shell company is still required to file a profits tax return with the Hong Kong Inland Revenue Department every year.
- Maintenance of statutory documents:
– Keep statutory documents such as Certificate of Incorporation, Business Registration Certificate, Articles of Association, etc., properly and ensure that the information is up-to-date.
- Maintain Company Secretary and Registered Address:
– Appoint a company secretary to maintain a valid registered address.
- Maintenance of Business Registration:
– Renew the business registration certificate annually to ensure that the company has a legal existence.
