What is Hong Kong's territorial tax system?

Hong Kong only taxes profits sourced within Hong Kong. Profits from offshore trading or services provided entirely outside Hong Kong are generally not subject to Hong Kong profits tax. This makes Hong Kong compelling for international trading companies.

Is an annual audit compulsory for Hong Kong companies?

Yes. All Hong Kong private companies must have their accounts audited annually by a licensed CPA, regardless of size or revenue. This is a fixed cost you should budget for — typically USD 800–2,000 per year for small companies.

Can I open a Hong Kong business bank account remotely?

Some banks allow remote or online account opening for Hong Kong companies, but many require in-person visits. Nomadic Go provides business banking assistance for Hong Kong companies, including bank selection and document preparation.

Is Hong Kong still a good jurisdiction after 2020?

Hong Kong remains a legally and financially credible jurisdiction under the Basic Law, with its own common law courts, banking infrastructure, and low-tax system. It is particularly strong for China-adjacent businesses. Many founders continue to use HK for its tax structure and banking gateway to China.

Are there nationality restrictions for Hong Kong company formation?

Hong Kong imposes no nationality-based restrictions on company ownership — any foreign national can hold shares in a Hong Kong company. However, Hong Kong banks apply rigorous AML/KYC due diligence and may decline account applications from nationals of OFAC-sanctioned countries (Iran, North Korea, Cuba, Syria) or countries on the FATF blacklist. Russian nationals face heightened scrutiny at most HK banks following 2022 sanctions, though applications are not automatically declined. Source-of-funds documentation is especially important for applicants from higher-risk nationalities.

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Services in Hong Kong

Explore visas, banking support, company formation and compliance services in Hong Kong, plus curated solution bundles with fixed pricing and expert handling.

Browse all Hong Kong services

Banking Support

Hong Kong Personal Bank Account Support

2–4 weeks

from $999.00

Company Formation

Hong Kong Ltd

3-5 days

from $2,490.00

Solution Bundles

Set Up in Hong Kong

Launch a Hong Kong Limited company complete with company secretary and registered address, your firs…

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Nomadic Go+ membership

Recurring membership plans covering ongoing visa management and company compliance obligations in Hong Kong.

Nomadic Go+: Hong Kong

All-in-one company membership for your Hong Kong Ltd: formation included, business mailbox, monthly …

from HK$4,999.00/mo

Government and authority fees are separate from our service fee. Nomadic Go does not guarantee approval and does not provide tax advice.

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