The Chinese taking over Zelezara Smederevo on July 1 – New company named Hesteel Serbia Iron and Steel
It was officially registered in Serbia on June 14, five days prior to the visit of the Chinese president Xi Jinping and nearly two months after the signing of the agreement with Hesteel. The company's headquarters are in Belgrade, at 23 Majke Jevrosime St. It is registered for the sale of raw iron, steel and ferroalloys.
It's interesting to note that its founder with 100% of the capital and the only shareholder, the private company New Silkroad (Hong Kong) Holding co. Limited, was registered on May 26 this year in Hong Kong.
The registered financial capital is RSD 24,674,200, whereas the property of Zelezara has not yet been registered in the Serbian Business Registers Agency (SBRA). The administrative bodies of this company are the General Assembly and five Chinese directors who jointly operate in Serbia. They are, at the same time, the legal representatives of the company – Wang Lanyu, Li Yidong, Liu Jian, Song Sihai, Yang Guiqinq.
According to the founding act of the company, legal representatives shall be appointed and deposed from duty by the General Assembly. By the way, Hong Kong uses a territorial principle of taxation. Only the profit made in Hong Kong is taxed. Any profit made elsewhere is not subject to the Hong Kong profits tax. Thanks to this, if a Hong Kong company trades or operates outside of Hong Kong, it doesn't pay taxes. The Hong Kong companies which make profit there are currently paying 16% profits tax.
Most Important News
11.03.2024. | Healthcare
Are Marketing Experts Reading Our Minds? – eKapija Investigates: What Neuromarketing Is and How Much It Is Used in Serbia
11.03.2024. | Construction, Transport
Tender for Continuation of Construction of Patrijarha Pavla Blvd Stopped – Contractors Demanding Price Higher Than Estimated
11.03.2024. | Construction, Transport
11.03.2024. | Construction, IT, Telecommunications
Auction for 5G Network by End-Year, Minister Announces
11.03.2024. | Construction, IT, Telecommunications
28.03.2024. | Construction
Beginning of Construction of First “Green Dam” in Serbia Which Will Supply 500,000 People with Drinking Water
28.03.2024. | Construction
17.01.2024. | Industry, Healthcare
Ceremony of Opening of Centers of Excellence in Kragujevac Planned for Spring – Official Beginning of Operations in June
17.01.2024. | Industry, Healthcare
27.03.2024. | Industry, Transport, Finance
City to Waive Over 30 Zemun and Palilula Bus Lines to Private Transporters – Draft Public-Private Partnership for 10-Year Period Ready, Job Worth Half a Billion Euros
27.03.2024. | Industry, Transport, Finance