Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 95

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 10
Chunk 95
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 non-resident or foreign shareholders

There
are no limitations imposed by our Memorandum and Articles of Association (our charter) on the rights of non-resident or foreign shareholders
to hold or exercise voting rights on our shares. In addition, there are no provisions in our Memorandum and Articles of Association governing
the ownership threshold above which shareholder ownership must be disclosed.

Issuance
of additional shares

Our
Memorandum and Articles of Association (our charter) authorizes our board of directors to issue additional shares from authorized but
unissued ordinary shares, to the extent available, from time to time as our board of directors shall determine.

C.
Material Contracts.

We
have not entered into any material contracts other than in the ordinary course of business and other than those described in this Annual
Report.

D.
Exchange controls.

Under
BVI law, there are currently no restrictions on the export or import of capital, including foreign exchange controls or restrictions
that affect the remittance of dividends, interest or other payments to nonresident holders of our shares.

E.
Taxation.

The
following summary of the material BVI, Hong Kong and U. S. federal income tax consequences of an investment in or ownership of our shares
is based upon laws and relevant interpretations thereof in effect as of the date of this Annual Report, all of which are subject to change.
This summary does not deal with all possible tax consequences regarding investing investment in our shares, such as the tax consequences
under state, local and other tax laws.

BVI
Taxation

Our
Company and all distributions, interest and other amounts paid by our Company to persons who are not resident in the BVI are exempt from
the Income Tax Ordinance in the BVI. No estate, inheritance, succession or gift tax, rate, duty, levy or other charge is payable by persons
who are not resident in the BVI with respect to any shares, debt obligation or other securities of our Company. All instruments relating
to transfers of property to or by our Company and all instruments relating to transactions in respect of the shares, debt obligations
or other securities of our Company and all instruments relating to other transactions relating to the business of our Company are exempt
from payment of stamp duty in the BVI provided that they do not relate to real estate in the BVI. There are currently no withholding
taxes or exchange control regulations in the BVI applicable to our Company or its shareholders.

  63  

Material
U. S. Federal Income Tax