In the modern world, entrepreneurs are looking for competitive and interactive places to set up their businesses overseas. Hong Kong is one of the most establish and productive environments to run a business. Most people benefit from reduced taxes, corruption free and a stable economic and political environment. The world class infrastructure is every entrepreneurs dream.
Hong Kong is located right at the heart of the Asian continent .With a five to eight flight you will be connected to most of the markets in Asia -Pacific region. It is the perfect location to tap into the Mainland Chinese market with facilities going to Beijing, Shanghai and other major Chinese cities you can travel within a single day.
Furthermore did you know that The Honk Kong International Airport is the eighth busiest International passenger airport operating with 100 airlines servicing over 180 destinations? As an entrepreneur you have access to about 40 destinations in mainland China.
A cross boundary ferries provides speedy sea transport to and from six mainland ports and the coach service, which covers more than 90PRD cities and towns. The HKIA is ranked as the Best Airport in the world receiving accolades and awards. In addition to this Hong Kong is also a focal point of all maritime activities in southern China being one of the major ports of the world in terms of tonnage of shipping using facilities, cargo handled and carrying of passengers.
Ease Of Doing Business
All over the world Hong Kong is known as an easy place to set up a business. You can choose to open your HK company in a week’s time. Thanks to the excellent infrastructure facilities and business premises are easily available to get your started. There are also strict regulations in place it ensures intellectual property protection and various dispute channels that businesses can show. The straightforward and business risk-free tax system pulls foreign businesses to the city. Foreigners who want to start business in Hong Kong can quickly move by applying for a relevant work visa..
Attractive Tax Regime
In most businesses taxes are a main concern. However, Hong Kong is among the best locations with minimal tax. Personal income tax or salary starts at 2% going up to 17% for income above HKD200, 000. The corporate tax is set at 16.5 % of the assessable profits for corporations and 15% for unincorporated businesses .There is likewise no financial gains tax, or any withholding tax on dividends and interest. Lastly there is no sales tax or VAT for companies operating in Hong Kong.
World’s Freest Economy
Being one of the World’s most dynamic economies, Hong Kong is driven by the principles of free enterprise, free trade and free market open to all. Due to the robust economy over the past two decades, the GDP has grown as an average annual rate of 5%. There are no restriction in on HK companyinvestments (both inward and outward), and no foreign exchange controls with no foreign ownership restrictions.
Factors like a stable banking system, low public debt, solid legal system, substantial foreign exchange reserves and a rigid anti-corruption routine fulfill to strengthen Hong Kong’s Placement as a business lovely location.
Businesses in Hong Kong can now enjoy gaining preferential access to the Mainland China market from the closer Economic Partnership Arrangement (CEPA). A free trade arrangement between the Central People’s Government as well as the Government of the Hong Kong Administrative Region. More so goods that qualify as Hong Kong origin may be exported to the Mainland tariff free. The Hong Kong service suppliers also supply in 40 areas which are eligible to receive preferential treatment in providing services in the Mainland.
Liberal Immigration Policy
Hong Kong offers a liberal immigration policy with about 170 countries and regions are given visa-free visits to Hong Kong for durations ranging from 7-180days. As for short term visitors they may carry out business discussions and sign agreements by getting into Hong Kong on a visitor visa or entry permit.
Hong Kong has also introduced appropriate work visa provision, anticipating the needs of business entrepreneurs who wish to move to Hong Kong to start a HK company or who may want to hire foreign professional to work in their company. For those wishing to enter into this type of investment, there are numerous guidelines and techniques for the career of foreign experts, employment of Mainland talents as well as professionals.
Sound Legal Environment
Known for its transparency, law and order is central to Hong Kong’s success. The Hong Kong’s legal system is separate from Mainland China’s, and English common law prevails. With the establishment of the International Arbitration Center. With the establishment of the International Arbitration Center in 1985, Hong Kong has become an important arbitration center in Asia. Today, arbitration in Hong Kong is a popular method of resolving disputes. The law is committed to protecting intellectual property rights and enforcing strict patent laws. Copyright, registered trademark and utility models.
To handle IP matters, the Intellectual Property Department monitors the IP regime in Hong Kong. There are also distinct rule and regulations concerning trade and commerce, employment, taxation and other business related areas, making it an attractive place to setup and operate a business.