Why doing business in Hong Kong?

[Viki]

Entrepreneurs decide to opt for Hong Kong for setting up a new business because of many reasons. Below are several highlights about this business-friendly environment:

Strategic Location. Hong Kong is regarded as the heart of the Asia Pacific region. Its location is next to Mainland China, one of the world’s most elite markets. There are a large number of daily flights between Hong Kong and major business hubs of the world, meaning business people get more chances to internalize their business.

Free Economy. Hong Kong is positioned as the world’s freest economy, according to the Index of Economic Freedom, 2019. In Hong Kong, foreign investors are granted tons of benefits thanks to its free trade policy, no restriction for onshore or offshore investment, free movements of capital, no tariff on goods import/export, no foreign exchange controls.

Ease Of Doing Business. Hong Kong took 3^rd place in terms of “Ease of Doing Business Rank” by the World Bank, following the 2^nd rank of Singapore. The high ranking has reflected some good aspects of Hong Kong, especially the streamlined and time-saving company formation process. A Hong Kong company can be set up within just 24 hours.

Simple & Low Tax System. Hong Kong’s tax system is very attractive. Only income derived within and from the country must be taxed. Three main types of tax in Hong Kong include profits tax, salaries tax, and property tax. As Hong Kong follows the two-tier profits tax regime, the first HK$2 million of assessable profits for both corporations and unincorporated businesses is only taxed at one half of its current tax rate.

 Hong Kong tax system allows foreign entrepreneurs to save costs and maximize profits. It is crystal clear to understand why there are a large number of Hong Kong based companies incorporated each year.

[KorioLinn]

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