Why Set Up A Business in Hong Kong?
When considering setting up a business there are many questions you need to ask yourself about business environment, business structure, business rivals and economy.
If you are choosing to set up a business in Asia there is one specific place which stands out, and that is Hong Kong. With increasing investors and start ups entering the Hong Kong business market there are solid growth prospects for all.
Hong Kong is home to the World’s busiest airports for international air cargo and one of the world’s busiest container ports and is increasingly integrated with the Chinese mainland though trade, tourism and financial links.
Why Hong Kong?
Hong Kong has been labelled as the freest economy over the past two decades, becoming a global leader in the banking and business sector surpassing the UK and USA. In addition, it has been labelled as the least corrupt country in the world and ranks third as a Global Financial Centre, only behind London and New York. As an ex-British colony, Hong Kong uses both English and Chinese, two of the most spoken languages in the world.
Hong Kong has been crowned the 5th fastest growing business environment, being ranked 25th most developed country in the world.
What are the Advantages of starting a business in Hong Kong?
Before starting any business, researching jurisdictions and completing due diligence is essential, after all every business is unique. Here are some advantages of starting a business in Hong Kong:
- A gateway to Asian markets
- Specialized programs for start ups
- Great banking facilities
- Recognizability
- Maximum freedom
- Hong Kong permits easy selling of shares
- Liberal Immigration Policy
- No tax on foreign profits
- Reduced business risk
- World Class Infrastructure
- Global financial center
- Stable jurisdiction with a good reputation
- Favorable political environment
- Double taxation agreements with Singapore and China
Because of this, foreign investors and entrepreneurs have long favored Hong Kong for their overseas business ventures. Hong Kong’s resilient economy, diverse market and transparent tax system provide a well-supported environment for new startups.
With such an attractive environment for new businesses, Hong Kong’s economy has doubled in size over the past 20 years, with a GDP growth at an annual rate for 5%.
How do I start a company in Hong Kong?
SFM can incorporate your Hong Kong company in as little as 1-2 days*, assist you with creating a bank account and assign you a dedicated manager who will be available to you through the year.
Your offshore Hong Kong company will need to include a minimum of one director, one shareholder and one secretary. Your business will be under common law and require no paid-up capital.
To speak to one of our account managers please contacts SFM here.
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