Set Up Business in Hong Kong, A Tiny City With Huge Potential
Why set up business in Hong Kong? Because Hong Kong is the 17th least corrupted place in the world. Foreign investors can confidently depend on the local laws to protect their assets, allowing them to conduct their business freely with peace of mind.
Ranked as the 6th most liveable city in the world, Hong Kong is a vibrant and thriving multinational city with well-developed infrastructure built for residents, tourism, banking, entertainment and businesses from all industries.
It’s the World’s Freest Economy
According to the Heritage Foundation, Hong Kong is the freest country in the world. The World Bank evidently agrees with this, having ranked Hong Kong as the 5th best place in the world to do business for investors.
Why has Hong Kong proved to be so successful? Because of the strength that its liberal economic policies present, and the potential access to the massive Chinese market that has been luring investors to the country for years.
Business Friendly Policies
Setting up a company in Hong Kong is easy. A business owner can incorporate a new company in as little as one week, and a share capital of only USD$1. Also, shareholders can maintain their capital in any currency, and this includes USD, Euro, or GBP.
Setting up a company in Hong Kong only requires the presence of one director and one shareholder, both of whom can be non-resident foreigners. A physical office space is not necessary to complete the registration process
You Can Start with a Ready-Made Company
In Hong Kong, investors can choose ready-made companies if they want to commence business operations without having to wait for the company set up and bank account opening procedures to be completed.
Tax Advantages to Benefit From
Hong Kong companies are legally tax exempt if it has no operations in Hong Kong. This attractive advantage that has been luring investors to establish and set up business in Hong Kong.
Investors can also enjoy a boost in global profits by setting up a Hong Kong offshore company. This is because the country has no withholding tax, sales tax, VAT, import and export tax or capital gains tax.
Hong Kong is a founding member of the World Trade Organization, which means that the country promotes free trade. This means that investors will not pay high costs for tariffs on imports and exports. In addition, bureaucratic procedures such as licensing and government registrations are also kept to a minimum. This makes it easy for investors who want to establish a business in the country.
Wide Use of English
Businessmen in Hong Kong commonly use English as the official business language. This also applies to all formal company documents as well.
Obtain Bank Credit Easily
Hong Kong has the reputation of being the 19th best jurisdiction in the world for securing business credit. Investors have always approved of how fairly simple obtaining bank credit in Hong Kong is.
Hong Kong, next to Singapore, is one of the leading financial centers in Asia. The city’s International Financial Centre hosts many of the world’s global financial firms, insurance companies, asset management firms, and banks that have made a home in Hong Kong.
Free Economic Zone
Hong Kong is a free economic zone. It is officially a part of China which many people consider as the Hong Kong Special Administrative Region. This means that resident companies are the greatest business vehicle for foreign investors who need a regional distribution base or headquarters.