The best advantages Hong Kong can offer you
An excellent Asia Pacific option for international trade.
Foreigners as Shareholders or Directors
Company incorporation simple and quick
Low cost of incorporation and maintenance
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Setting up your business in Hong Kong
A suitable jurisdiction for International Trade and Investment
Business Large multi-national corporations set up overseas companies to reinforce the competitive edge of the group as a whole, and hence maximize profitability. For example, they can reduce taxation expenses legally by booking some incomes to lower taxation regions, such as Hong Kong.
Hong Kong – the world’s freest economy and free trade
Being one of the world’s most dynamic economies in the world, Hong Kong is the financial hub for many business entities. Hong Kong’s economy is driven by the principles of free markets, free trade, and free enterprises, which is open to all the businesspeople.
Advantages
A former British Colony but now part of the Republic of China, Hong Kong is considered a major international centre for business. Located on the south east coast of China it became part of China on the 1st of July 1997. Hong Kong is classified as a Special Administrative Region (SAR) within the Republic of China and has retained its own legal system. The legal system in Hong Kong is, unsurprisingly, based on the British system with the official languages being English and Chinese.
There is no ‘offshore’ legislation in Hong Kong, all companies are incorporated under the same legislation regardless of whether they do business on or offshore. However, companies that do not derive any income from sources in Hong Kong are not subject to tax thereby effectively making it an offshore company in all but name. An excellent infrastructure and strong regulatory framework are contributors to the success of Hong Kong as a major destination for business.
Hong Kong is one of the world most established and reliable financial centres. The economy in Hong Kong is considered to be one of the freest in the world (as measured by the Index of Economic Freedom) therefore it is an excellent jurisdiction in which to incorporate a company.
Advantages to incorporate in Hong Kong
English is an official language and is the main business language. All reporting information and documentation can be produced in English.
There are no restrictions on the use of foreigners as Shareholders or Directors at a Hong Kong company.
Corporate Director and Secretary are allowed.
The incorporation of a Hong Kong company is simple and quick.
Low cost of incorporation and maintenance.
No minimum requirements for share capital.
Only one Director and Shareholder is required to form a limited liability company.
The Hong Kong tax system is simple and straight-forward.
Profits tax is capped at 16,5 percent.
Due to the system of territorial taxation foreign source trade profit is not subject to Hong Kong income tax.
There is no capital gains tax in Hong Kong.
There is no withholding tax on interest, dividends and royalty.
Foreign dividends are not subject to Hong Kong income tax.
Tax credits for foreign tax paid are available in Hong Kong; however, it is subject to some conditions.
There is no net worth tax in Hong Kong.
Hong Kong has an excellent banking system and communications infrastructure.
The first and foremost benefit of opening a company in Hong Kong is to facilitate entry into mainland China. Being located in the heart of Asia, and its proximity to the mainland, makes Hong Kong the perfect connecting point between The West and East.
Intellectual Property in Hong Kong
While filing for copyrights, trademarks, and patents, Hong Kong takes into consideration the prior use of intellectual property for business owners. The legal jurisdiction of Hong Kong is committed to enforcing stringent regulations for registered designs, patents, copyrights and the protection of Intellectual Property Rights (IPR).
In fact, Hong Kong has set up a special department which is highly reputed for handling IP matters, known as the Intellectual property department of Hong Kong. Besides this, there are other rules and regulations in Hong Kong which makes it an attractive place for business owners to set up a business such as employment, trade and commerce, taxation, and other business-related areas.