“Buying property via a shell company” is a very common commercial investment practice. Before the implementation of property market cooling measures (residential property demand management measures) in 2010, investors often held properties in the name of a Hong Kong limited company for rental purposes.
Especially for Chinese passport holders or non-Hong Kong residents, using “ready-made company property transactions” for industrial buildings, commercial offices, shops, and parking spaces is not only fast but also facilitates tax arrangements and management.
More shell company information: [Shell Company] 5 Major Benefits of Shell Companies | 8 Key Considerations When Buying a Company
Step-by-Step Process for Property Transactions via Ready-made Shell Companies
Ready-made Shell Company Property Transaction Step 1: Select a Limited Company Name
Clients first select a preferred ready-made company name from the General Accounting shell company list and contact General Accounting to reserve the ready-made Hong Kong company.
Ready-made Shell Company Property Transaction Step 2: Submit Application Form
Fill out the online Ready-made Company Purchase Application Form and submit KYC documents, such as shareholder identification and proof of address.
Ready-made Shell Company Property Transaction Step 3: Pay Service Fees
Ready-made Shell Company Property Transaction Step 4: Draft Provisional Agreement for Sale and Purchase
Real estate agents can draft the Provisional Agreement for Sale and Purchase based on the information from the Business Registration Certificate and Certificate of Incorporation.
Ready-made Shell Company Property Transaction Step 5: Sign Shell Company Transfer Documents
All directors and shareholders must visit General Accounting in person to sign Companies Registry documents, including share transfers, change of registered office address, and changes to directors, shareholders, Company Secretary, or the Significant Controllers Register.
Ready-made Shell Company Property Transaction Step 6: Submit Documents to Companies Registry and Stamp Duty for Share Transfer
Ready-made Shell Company Property Transaction Step 7: Complete Hong Kong Company Transfer Procedures
Ready-made Shell Company Property Transaction Step 8: Sign Provisional Agreement for Sale and Purchase
Ready-made Shell Company Property Transaction Step 9: Open a Corporate Bank Account**
The ready-made company purchase service includes the documents required to open a corporate bank account.
Ready-made Shell Company Property Transaction Step 10: Apply for a Mortgage in the Name of the Limited Company**
After completing the account opening process (or simultaneously), you can apply for a property mortgage with the bank.
**Note: The bank has the final decision-making power regarding the successful opening of a corporate account or mortgage application; all matters are subject to the bank’s decision.**
How to buy property with a shell company as quickly as possible? Tips for ready-made company property transactions:
1. Appoint an experienced accounting firm
General Accounting began providing ready-made company services in 2005, with over 20 years of experience assisting clients in buying property via shell companies, investing in industrial buildings, and purchasing parking spaces.
2. Choose a licensed Company Secretary
3. No returns or changes after company purchase
4. Thorough preparation
5. Consult the secretarial firm in advance
6. Prepare payment methods
7. Reserve two or more shell companies
8. Plan the company structure in advance
9. Prepare identification documents
10. Sign company purchase documents in the morning
FAQs on Bank Accounts for Buying Property via Shell Companies
Q: Can I apply for a bank account when buying or selling property using a ready-made company?
A: Yes, the ready-made company purchase service includes the documents required to open a corporate bank account (signed by a Certified Public Accountant, CPA).**
**Note: The bank has the final decision-making power regarding the successful opening of a corporate account; all matters are subject to the bank’s decision.**
Q: Can a Hong Kong ready-made company holding property apply for a bank mortgage?
Q: Is it more convenient to buy a shell company that already has a bank account for purchasing property, buildings, or shops?
A: Absolutely not, as the risk is very high. A ready-made limited company that already has a bank account implies that the company may have operated or signed legal documents in the past.
The risk is that after the transfer, the new buyer may be liable for the company’s debts or legal responsibilities. Do not purchase a Hong Kong company with an existing account just for convenience.
Summary:
Property investment is a major decision. Whether in a personal name, a newly registered limited company, or by “buying property via a shell company,” you must consult professionals in advance, including professional accounting firms, reliable property agents, and solicitors familiar with property transactions. You also need to understand “company property mortgage” procedures and interest rates.
