Macao company formation
Basic facts regarding Macao
The Macau Special Administration Region is also known as Macao or Macau. Macau totals an area of just 11.27 square miles and is home to 546,000 people. The official currency is the Macanese Pataca and the official languages are Chinese and Portuguese. Macau is one of two Special Administration Regions, the other being Hong Kong.
Offshore business in Macao
Macao, China has a foundation for ensuring the beneficial ownership, albeit not necessarily the control, of legal arrangements is known to the main local service providers - banks. Although there are no trust service providers, there is a framework for trust service provider regulation in place. In practice, the relative size of the banking sector and the scope of the Guideline for Financial Institutions mean that the beneficial ownership of most foreign trusts using Macao, China's services in Macao, China will be known and the authorities can obtain access to this information.
International cooperation
Macao has executed Tax Information Exchange Agreements with Denmark, Faroe Islands, Finland, Greenland, Iceland, Norway, Sweden.
[Sources: United States Department of State Bureau for International Narcotics and Law Enforcement Affairs; Asia/Pacific Group on Money Laundering; Organisation for Economic Co-operation and Development]