As a worldwide metropolis with abundant information, starting a company in Hong Kong gives a lot of access to a customer market of millions of people in southern China alone. With a solid infrastructure and total management system of its own, it supplies an advantaged economic and industrial environment to a lot of traders and entrepreneurs. Thus, it is a favorite for international entrepreneurs seeking to permeate Chinese markets, and also an increasing number of individuals establish their own businesses in Hong Kong using various functions, which increase not just the picture of the firm itself, but also the competitive capability in the global industry. The following information can allow you to decide whether forming a company in Hong Kong is the ideal strategy whereby to achieve this.
We know there are many factors that can contribute to the success of a company. Hong Kong is considered one of the greatest places to establish and operate an organization since it focuses on things that matter a lot to businesses. Below are some of the crucial benefits of setting up a business in this city.
It is an international center of information exchange and transportation hub. It is one of the major ports of the planet concerning tonnage of shipping using its own facilities, freight handled and the number of passengers carried.
It has a dynamic economy of free markets, free trade and free business available to all. There is no limitation on investment, regardless of foreign exchange checks without any foreign ownership limitations. Hong Kong is strategically situated nearby China. Air, rail, sea and road connections are efficient and modern and give easy access to China’s booming southern states for several overseas entrepreneurs. With moderate tax rate and tax-exempt income never incurred overseas.
With great infrastructure and stable political climate, most firms opt to establish operations in Hong Kong since it is stable with governance that supports business.
Enjoy advantage of global banking system. Many banks from of 32 foreign countries are there. The Hong Kong banking and financial services is governed by the Hong Kong Monetary Authority (HKMA). The characteristics and advantages of utilizing Hong Kong for personal banking, bank account, organizations and foreign asset security are at their best.
The process of forming a firm in Hong Kong is relatively simple. One will need one firm shareholder plus a resident firm secretary. You will then confirm the business name and company structure. There is a minimum issued capital demand for HKD 10,000, while the paid-up funding demand is just one dollar. There is almost no restriction in the field of business scope once you set up a Hong Kong corporation. There will be operational requirements like opening a Hong Kong corporate bank account and putting up an office. A virtual workplace is an alternative too.