Company registration Hong Kong
Hong Kong with its significant trading economy is a renowned center for both local and multinational companies operating in Asia. For the majority of companies, Hong Kong is increasingly becoming the chosen entity for trading activities in Asia as they benefit from multiple services offered by the said territory. The benefits also help company registration in Hong Kong simple and convenient.
Major benefits of registering companies in Hong Kong:
Political and social benefits
Hong Kong holds good ratings in global business surveys as the most business efficient territory as well as the second most economically efficient country on the planet. The country’s stable political and economic atmosphere with professional business government ruling along with independent legislation is beneficial for company registration in Hong Kong. It is not surprising that the country is a well-liked option for regional business procedures in Asia.
Being in the proximity of China, Hong Kong has the biggest advantage of being able to access the marketplace of China for foreign entrepreneurs. It is said that Hong Kong makes up about a substantial share of inward investment to the landmass China and China is said to be one of the biggest buying and selling partners of Hong Kong. Also for the businessmen being in the centre of Asia, Hong Kong is an efficient place when it comes to linking with the worldwide marketplaces.
The best infrastructure
Hong Kong is in the middle of the most modern metropolitan areas. When it comes to infrastructure, the country has the best telecommunication, IT connectivity, transportation and other utilities. The logistic facilities of airport terminal such as the shipping container port and the cargo airport terminal makeHong Kong an ideal destination for worldwide business. This also leaves no doubt for the new entrepreneurs to easily go for company registration in Hong Kong.
The straight-forward tax system
A key advantage of setting business in Hong Kong is that if a Hong Kong company has no local base or generates income from Hong Kong it will be legally tax exempt. With minimum corporate tax rate of 16.5 percent along with private tax peaking at 15 percent, the country is considered as the third cheapest tax misery as ranked by Forbes’ Tax Misery Index. Company registration in Hong Kong also has the advantage of getting no capital gains tax, no return tax or withholding tax as well as exempt from VAT. Moreover, Hong Kong has signed 34 double tax treaties, which let withholding taxes on payments from abroad to be reduced.
Ease of company registration
Company registration Hong Kong is relatively easy. The basic needs include
Ø Verification of company structure and title
Ø Minimum one company director
Ø A Hong Kong resident company secretary
Ø One shareholder
The optional requirements are
Ø Opening a Hong Kong corporate bank account
Ø Establishment of virtual office
Ø Acquiring employment visas
Limited companies in Hong Kong have the added advantage from tax exemption on income from overseas operations. The country is therefore considered the ultimate place to set up a holding company or company headquarters.