Hong Kong is just behind New York and London as the world’s largest economic centre. Its status is bound to get even better as it continues to have good ratings from Standard & Poor and other global firms. Investing on registering a new company in Hong Kong is a sound decision if you wish to venture into the worldwide market. There are many reasons people see having a company in Hong Kong is beneficial.
Business-Friendly Political Setting
The government of Hong Kong ranks low in terms of corruption. Moreover, the country is one of the most efficient nations in the world in terms of economics. These credentials strengthen the entire economy of the country, making it a viable business choice. Its political climate is also business-friendly and the top officials are pro-business.
One of the key factors HK is such a good business area is its location. It’s close to China, one of the world’s largest manufacturers of exported goods. This means it’s easy to access different trades and companies. Many Hong Kong companies comprise most of the overall inward investment to China’s mainland. As Hong Kong is also an economic top dog, it attracts thousands of companies from China, its neighbouring Asian countries, and the rest of the world. Its place is ideal to be the heart of global transactions.
Modern lifestyle and equipment from simple mobile phones to public transport systems and communication facilities abound in HK, not to mention their world-class airport and other facilities. This makes it a great place to start a business as it copes with the most recent developments in technology.
Liberal Taxes and Policies
Hong Kong also features a low tax rate and a simple system to total and collect taxes. The max tax rate for corporate entities is at a mere 16.5% while personal tax cannot go beyond 15%. This makes it one of the countries with low tax misery across the globe. There’s also no VAT, withholding tax, and capital gains tax in the area.
Light Registration Requirements
The system for enlisting a company in HK is direct. These are the requirements: • Corporate structure and company name • One company director regardless of place of residence – HK or otherwise. • Company secretary, resident of Hong Kong, and cannot be the director. • Minimum capital of HK$1.
After registering the business, there are a few more operational requirements companies need to comply to, such as: • HK corporate bank account • Office (can be virtual) • Employment visas, etc.
There are also companies that offer business registration in Hong Kong. It’s best to research to find more about these companies and processes to start a business in one of the most promising business areas in the world.
http://www.hkcore.com/company-formation/hong-kong/ http://www.cr.gov.hk/en/compliance/obligations.htm http://www.doingbusiness.org/data/exploreeconomies/hong-kong-china/starting-a-business