BEGINNING  Setting up a company in Hong Kong and in the British Virgin Islands HONG KONG:                                                                                                Types of Companies Private companies are restricted on the right of its members to transfer their shares; they have a 50-person limit on thee number of members; and it has a prohibition on any invitation to the public to subscribe for any shares or debentures of the company A public company does not have the restrictions (above) for private companies. A listed company is a company whose securities are traded on the Stock Exchange of Hong Kong and is a public company. A limited company is one in which the liability of its members is limited. There are two types: companies limited by shares and companies limited by guarantee with share capital. For an unlimited company, in the event of winding-up, members are personally liable for all debts and liabilities incurred by the company. Overseas companies must be registered under the Companies Ordinance and are required to appoint an authorized representative. Registration Procedure Check through the Companies Registry to see whether the proposed name is not the same as any other name which is registered Prepare the memorandum and articles of association and get them signed A declaration of compliance must be made by a solicitor Submit: memorandum and articles of association, declaration of compliance and registration fee A certificate of incorporation will be issued Every company incorporated in Hong Kong must be registered under the Business Registration Ordinance within 30 days of incorporation or the date of commencing business, whichever is the later. BRITISH VIRGIN ISLANDS:                                                                                       International Business Companies are exempt from all BVI income tax. The BVI has no capital gains, capital transfer, estate or inheritance taxes. All instruments relating to transactions in respect of IBC shares and debt obligations, to property transfer to or by an IBC, and to transactions relating to the business of an IBC are exempt form BVI stamp duty.   Corporate Requirements- one director at least one shareholder at least no annual return needed time taken is 24 hours the company must maintain a registered office address within the BVI, and must appoint a BVI resident as registered agent.