Why do Business in Hong Kong?

Hong Kong is rising as one of the fastest developing cities not just in China, but in the entire Asia. The city is becoming one of the most popular destinations when we talk about business communities. It is known for its outstanding infrastructure, easy availability of skilled and highly educated workforce not to mention easy taxation system. If you are one of the individuals who are thinking of starting a business, then companies’ registry in Hong Kong is the thing to look for. Take a look at what this place has to offer to business communities and what are the things that make it so special and unique:

The location of this city is quite strategic and ideal in so many ways. Not only is it one of the fastest growing cities of Asia, but it happens to be just 2 hours ride away from the biggest manufacturing center of the world. It is surrounded by all the major markets of the region and is just five hours away from largest population area of the world. Every single month at least a hundred new corporate come to this city to get registered here.

1. Contrary to how it happens in most of the countries, there is no foreign exchange control in Hong Kong. It means that a person can exchange and trade currency as per his convenience and preference. You can circulate funds without worrying about restrictions or conditions. Credit operations are quickly and easily manageable.

2. The time required for companies registry in Hong Kong also happens to be quite low which is yet another plus point that speaks in favor of starting a company in this city. For e-filing incorporation it takes only one day. If you want to buy a shelf company then it would only take a couple of days. Around 10 days are required for registration of limited liability companies. In a nutshell, the registration procedure is very easy and not too cumbersome.

3. In the city of Hong Kong, there are no withholding taxes, sales tax, taxes on capital gains, individual’s estate or dividend. In addition to that shipping activities are exempted from profit taxes. No taxes are levied from overseas earnings either.

4. The legal system of the city is well-structured, prompt, and respected. There is a common law system and the arbitration law is very comprehensive. The number of law firms functional in Hong Kong is huge. The special administrative region is responsible for keeping track of companies registered in Hong Kong. It is one place where level of corruption is very low.

5. In addition to all this, the city has good banking system, excellent infrastructure, and friendly taxation policies; the things that all businesses want.

If you want to get a startup or a well-established corporate registered here, then you must have countless questions in mind. This section explains a few of the commonly asked questions related to companies registry in Hong Kong.