Refund Policy

 

Here are our Standard Terms for products and services eligible for a refund:

You acknowledge and agree that where refunds are issued to your Payment Method, One IBC Limited's issuance of a refund receipt is only confirmation that One IBC Limited has submitted your refund to the Payment Method charged at the time of the original sale, and that One IBC Limited has absolutely no control over when the refund will be applied towards your Payment Method's available balance. You further acknowledge and agree that the payment provider and/or individual issuing bank associated with your Payment Method establish and regulate the time frames for posting your refund, and that such refund posting time frames may range from five (5) business days to a full billing cycle, or longer.

I. Incorporation Services

The Client will receive a full refund of the set-up fee minus courier charges if the following three conditions are met: (i) One IBC Limited is not able to incorporate the Company for the Client AND (ii) One IBC Limited has received all the necessary documents duly completed by the Client, including a copy of the Client's valid identity document which has been authenticated according to the exact instructions of the Agreement conduct with regard to the exercise of due diligence and any document which One IBC Limited has requested from the Client, such as but not limited to utility bills not older than three months, his/her curriculum vitae, a bank reference letter (full documents required for incorporation as bellow) AND (iii) the request for the refund after the payment of the incorporation fee by the Client.

More detail for (ii) Documents Required for Incorporation, it is conditions required to incorporate for each country.

Authorised and Issued Share Capital

The concept of authorized share capital was abolished effective March 2014 and the minimum number of issued share is 1.

Classes of Shares Permitted

Ordinary shares, preference shares, redeemable shares and shares with or without voting rights, subject to the Articles of Association.

Taxation

Hong Kong is one of the few jurisdictions in the world that tax on a territorial basis. Many countries levy tax on a different basis and they tax the world-wide profits of a business, including profits derived from an offshore source. Hong Kong profits tax is ONLY charged on profits derived from a trade, profession or business carried on inHong Kong. Consequently, this means that a company which carries on a business in Hong Kong, but derives profits from another place, is not required to pay tax inHong Kong on those profits. Hong Kong sourced profits is currently subject to a rate of taxation of 16.5 per cent. There is no tax in Hong Kong on capital gains, dividends and interest earned.

The principle of Hong Kong profits tax is that it is a tax on profits that has its source in Hong Kong rather than a tax based on residence. Income sourced elsewhere, even remitted to Hong Kong, is not subject to Hong Kong profits tax at all. Consequently, if a Hong Kong company's trading or business activities are based outsideHong Kong no taxation will be levied.

A factor that determines the locality of profits from trading in goods and commodities is generally the place where the contracts for purchase or sale are affected. "Affected" does not only mean that the contracts are legally executed. It also covers the negotiation, conclusion and execution of the terms of the contracts.

If a business earns commission by securing buyers for products or by securing suppliers of products required by customers, the activity which gives rise to the commission income is the arrangement of the business to be transacted between the principals. The source of the income is the place where the activities of the commission agent are performed. If such activities are performed through an office in Hong Kong, the income has a source in Hong Kong.

Certain sums, like royalties, paid or payable to non-resident persons for use of or right to use certain intellectual property are subject to withholding tax. The payer who claims deduction for the use of the intellectual property against its assessable income is required to withhold a prescribed percentage from the payment while that recipient is not subject to Hong Kong profits tax. The prescribed percentage is 4.95% on the gross payment if the payer and the recipient are not related, but 16.5% if the payer and recipient are related. The recipients of the royalties may enjoy different treaty rates under double taxation agreements.

Double Taxation Agreements

Hong Kong has comprehensive double tax agreements with Austria, Belgium, Brunei, Czech Republic, France, Hungary, Indonesia, Ireland, Japan, Liechtenstein, Luxembourg, Malaysia, Malta Netherlands, New Zealand, Portugal, Switzerland, Spain, Thailand, United Kingdom, Vietnam and the Mainland China respectively to relieve taxation on income, for instance, dividends, interest income and royalties. The Hong Kong Inland Revenue Department allows a deduction for foreign tax paid on a turnover basis in respect of income which is also subject to tax in Hong Kong. Therefore, businesses operating in Hong Kong do not generally have problems with double taxation of income.

The respective comprehensive double tax agreements with Canada, Jersey, Kuwait, Mexico and Qatar will become effective from 1st April 2014 to relieve the applicable double taxation on various incomes.

Licence Fees

The Business Registration Fee of HK$2,250 on the date of incorporation and then annually on the anniversary of the incorporation. (Special tax concession arrangement by the HKSAR is granted until 31 March 2014; the Business Registration fee of each company is HK$250).

Financial Statements Required

A Hong Kong company must keep accounting records for at least 7 years, which may be kept at the registered office address or elsewhere at the discretion of the directors. Every company must appoint an auditor who must be a member of the Hong Kong Institute of Certified Public Accountants and hold a practicing certificate. Although there is no requirement to file accounts with the Registrar, there is a requirement to file accounts with the Hong Kong Inland Revenue Department.

Directors

The minimum number of directors is one, who may be a natural person or a body corporate, but at least one of them must be natural person. Directors can be of any nationality, and need not be resident in Hong Kong.

Company Secretary

A Hong Kong company must appoint a resident company secretary, who may be a natural person or a body corporate.

Shareholders

Minimum number of shareholders is one.

Company records

Company records such as members' resolutions, register of members, register of directors and register of debenture holders, other than accounting records, would generally require to be kept at least 10 years.

Disclaimer

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. One IBC Limited does not accept any responsibility, legal or otherwise, for any errors or omission.

NO REFUNDS WILL BE OFFERED, FOR ANY REASON, IF THE CLIENT DECIDES TO CANCEL HIS/HER/ITS APPLICATION AFTER THREE CALENDAR DAYS

II. Bank Account Opening Support Services

Any Client can decide to cancel his/her application in the three (3) calendar days following his/her application for the opening of a bank account. The Client will receive a full refund of the Services fee minus courier charges if the following three conditions are met: (i) the Bank with the assistance of One IBC Limited is not able to arrange appointment for the Client and Bank AND (ii) OneIBCHong Kong or the Bank has received all the necessary documents duly completed by the Client, including a copy of the Client's valid identity document which has been authenticated according to the exact instructions of the Agreement conduct with regard to the exercise of due diligence and any document which One IBC Limited has requested from the Client, such as but not limited to credit card statement, utility bills, work contract, Certificate of Incorporation or other evidence of the economic origin of the funds AND (iii) the request for the refund after the payment of the services by the Client.

NO REFUNDS WILL BE OFFERED, FOR ANY REASON, IF THE CLIENT DECIDES TO CANCEL HIS/HER/ITS APPLICATION AFTER THREE CALENDAR DAYS

III. Virtual Office, Telephone/Fax Services

If you buy the monthly plan directly and if you are unhappy with our service, we will give you a full-refund within 3 days of purchase calendar date. This is applicable only for the first month's service for monthly plans.

For 6 month or annual plans, refund can be issued with-in first 30 days after deducting the fees for first month and setup fee. Refund can be issued for new customers only. If you are renewing the plan, we cannot issue a refund.

IV. Google Apps for Business

One IBC Limited is reseller of Google for this service, Refund policy relate this services follow Term of services of Google Ireland Limited at: http://www.google.com/apps/intl/en/terms/premier_terms_ie.html

V. Other Services

For other services, we will refund to you if we can't delivery services to you. In case services delivered and information from us to you by email, there service can't refund.