Launch Your Dreams, Hong Kong Got Your Back
Contributed by Onur Gece, AsiaBC Incorporation Specialist | 22 Mar 2021
Investors are attracted to setting up their business in Hong Kong because it’s simple and reasonable. They also find multiple benefits and advantages when establishing their company in this country.
If you are still asking yourself why Hong Kong is a great option for expanding your business, here are a few good reasons.
You Have the Benefit of Owning 100% of the Company
Whether you are a sole director, a shareholder, or both and Hong Kong has no necessity that the positions should be just local occupants. Also, there is no basis for required capital payment, and there is the ease of incorporation in which a Hong Kong company prefers.
It Gives You a Sense of Security & Peace of Mind
With its elite business foundation, investors recognize the region’s stability. There is also no need for an actual location when setting up a business here, but a holding address is enough to do the trick. Hong Kong can be viewed as a significant exchanging element, and establishing a company here is considered “legitimate” and less likely to be seen as a tax avoidance vehicle.
The World’s Most Free Economy
Hong Kong has held this record for a long time and is driving its position in front of the regions like the USA, Japan, UK, Germany as one of the most untainted countries. It is also seen as a worldwide pioneer in banking and business.
Every significant global finance company already has a branch in Hong Kong that makes it easier for financial specialists to effortlessly locate a reasonable bank to process the necessary account and credit offices. Additionally, moving of assets and global exchange will not be an issue because of the grounded business foundation. There is no trade control in Hong Kong, which suggests that assets can be openly transmitted throughout the country with no limitation.
Hong Kong’s Dependability & Overall Acknowledgment
Aside from the fundamental dialect, Cantonese being one, English is also used since it is the primary business language that keeps a company in the country in a smooth and simple cycle. English law is also applied, and authority reports are given in the same language. This set of laws is a central issue that isolates it from Mainland China.
Strategic Location – Asia’s World City
With its position on the world map, Hong Kong is seen as the best course to work together in China.
With the Closer Economic Partnership Arrangement (CEPA), huge business sectors have opened up Hong Kong’s products and ventures, enormously upgrading its monetary collaboration with Mainland China. Fares to the land in this country have zero taxes on the off chance they meet CEPA. Particular market access for Hong Kong companies is accessible in 44 help areas that include banking, coordination, transport, mining, legitimate, and general media — these make the country impressive and a favorable position for financial specialists.
You Can Open a Multi-Currency Bank Account
This is another advantage that Hong Kong has when setting up a business. The tax system in the country is also simple and straightforward. Also, there are no capital gain taxes, no net worth tax, and no withholding tax on interests, royalty, and dividends. Foreign dividends will not be subjected to income tax too. Another benefit you can find in this country is access to double taxation treaties.
Highly Skilled & Educated Workforce
Acquiring a strong talent pool in Hong Kong will not be a problem. The country has no shortages in the availability of professional individuals. They are trained in all aspects of international business matters. This workforce is willing to learn, highly educated, skilled, productive, computer-literate, disciplined, and most importantly, well-versed in English.
These are the considerable benefits of a Hong Kong company that will surely boost the possibility for any investors hoping to dive into this market.
Launching your dreams in a foreign country can be a bit intimidating, and finding the right channel to help you achieve your goals might not be easy. At AsiaBC, we want you to have a strong take-off at the beginning for your business to grow and prosper in the future. If you are curious about what we can do, shoot us an email now at email@example.com. We got your back!