Examples of Hong Kong Subsidiary in a sentence
Immediately prior to the Closing, the total number of issued and outstanding shares of the Hong Kong Subsidiary is 1, which is issued to and owned by the BVI Subsidiary free of any Encumbrances.
Except pursuant to applicable PRC law or Hong Kong law, no PRC Subsidiary or Hong Kong Subsidiary is prohibited, directly or indirectly, from making any other distribution on such applicable PRC Subsidiary’s or Hong Kong Subsidiary’s equity capital, from repaying to the Company any loans or advances to such the PRC Subsidiary or Hong Kong Subsidiary from the Company or any of the Company’s Subsidiaries.
Hong Kong Subsidiary incorporated in Hong Kong is subject to Hong Kong profits tax at a rate of 16.5% for taxable income earned in Hong Kong before 1 April 2018.
Except pursuant to applicable PRC law or Hong Kong law, no PRC Subsidiary or Hong Kong Subsidiary is currently prohibited, directly or indirectly, from paying any dividends to the Company (or the Company’s subsidiary that holds the outstanding equity interest of such PRC Subsidiary and Hong Kong Subsidiary).
None of the PRC Subsidiaries, Hong Kong Subsidiary nor any of their properties, assets or revenues are entitled to any right of immunity on the grounds of sovereignty from any legal action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any court, from services of process, from attachment prior to or in aid of execution of judgment, or from any other legal process or proceeding for the giving of any relief or for the enforcement of any judgment.