As a global metropolis with information and opportunities, Hong Kong company formation offers unmatchable accessibility to an estimated customer market of millions of people. With sound infrastructure and total legal system of its own, it creates an advantaged economic environment for many entrepreneurs and traders. Thus, Hong Kong is popular with international entrepreneurs looking to enter the markets in China, and also many people set up their businesses here for different goals, which enhance not just the business image only, but also the capability to compete globally. The following information will help you figure out if Hong Kong firm formation is your right strategy through which to attain this.
Many reasons or factors exist that can contribute to the success of a business. Hong Kong is thought to be one of the greatest cities to set up and run a firm since it scores on factors that matter to businesses. Below are some of the key advantages of preparing a company in Hong Kong.
It is a worldwide center of information exchange and transportation hub. A focus of marine activities in southern China and is among the vital ports of the world concerning tonnage of shipping with its facilities, freight handled and the number of passengers carried.
It provides a vibrant economy driven by the policies of free trade, free markets, and free business for everyone. There is no restriction on investment, regardless of foreign exchange restraints without any foreign ownership restraints. It is well situated nearby China. Air, rail, sea, and road links are modern and efficient and offer unrivaled access to China’s booming southern states for several foreign entrepreneurs. The tax rate is low and there is tax exempt for income never incurred in there.
With strong infrastructure, political and steady social surroundings, most companies select to establish operations in Hong Kong because it considered being stable with free market principles.
Enjoy advantage of global banking system. Many banks from of 32 foreign countries are there. The Hong Kong banking and financial services is governed by the Hong Kong Monetary Authority (HKMA). The characteristics and benefits of utilizing Hong Kong for personal banks, bank account, businesses and foreign asset assurance are all thorough.
The procedure to form a company here is really easy. One is going to require one firm director and a Hong Kong resident secretary. You will then be required to verify the company name and corporate structure. There will be a minimum issued capital demand for HKD 10,000, and paid-up funding requirement is one dollar. There’s almost no limitation in the specialty of business scope once you establish a Hong Kong business. There will be operational requirements like opening a Hong Kong corporate bank account and putting up an office. A virtual office is also a choice.