Start a Business in Hong Kong
Hong Kong has a very vibrant reputation as the most preferred hub for startups. Apart from being a business hub, it is also a shopping and holiday destination. Such a relaxing atmosphere is what has made Hong Kong stand tall when it comes to investing. Many investors today are eager to start a business in Hong Kong, although it is more often than not very easy. So, how does one go about it? There is quite a lot of rigid competition within businesses in Hong Kong, and you must have a unique business plan if you are to make it here. Perhaps, the great motivator is the city’s vibrant economy, with the GDP rising by the day. Hong Kong is top five in the world in terms of the ecosystem. Here is guidance on how manage your company set up in Hong Kong and successfully run a business.
Hong Kong is situated right at the heart of Asia. This strategic position is what gives it great importance globally. It allows for easy access into China, the country with the largest population globally. Its taxation policy is also pocket-friendly, coupled with secure and efficient property rights, and government policies, what more would an investor want?
The process of setting up a company set up in Hong Kong is quite simple, and you can even do it without necessarily being there. Here is how.
You can begin by hiring a competent private limited company, offering registration services. This will enable you to settle very fast into the Hong Kong business arena. Many agencies out there offer consultancy services for startups. It is your decision to choose the right one.
Reasons for starting a Business in Hong Kong
Many of the world’s most prominent corporate entities like Google, Apple, Amazon, PepsiCo, and Starbucks already have investment options in Hong Kong. This is the reason why.
- Fewer tax regime
- Low business risk
- Conducive business environment
Hong Kong is the best place to either expand or start a business. However, this idea can go a notch higher if you consider our unique consultancy services, which will significantly help you build your investment here.
- Economic Growth Of Hong Kong
The vibrant and dynamic nature of Hong Kong’s economy is the sole reason as to why you should invest here. The regional and international economic freedom of Hong Kong has been attributed to.
(i) Sound economic policies
(ii) Transparent laws
(iii) The open market
(iv) Efficient regulatory systems
(v) Secure property rights
- Opportunity To Make An Investment In A Broad Variety Of Sectors
Hong Kong has one of the simplest and less expensive processes of business registrations in the world. The rapidly growing sectors in Hong Kong are as follows.
- Information & Technology
- Financial Technology
- Professional services
- Data analysis
- Education and learning
- Attractive Government Policies And Initiatives
Friendly government policies will always attract many foreign investments. This where Hong Kong beats them all. Did you know that foreign investors are allowed 100% ownership of property? InvestHk, a government-owned company, offers free investment plans to the businesses while at the same time, providing services to foreign investors looking to the best company set up in Hong Kong.
- Geographical Location Of Hong Kong
Hong Kong is strategically situated in Central Asia, and thus, it is accessible from different global market angles. Especially mainland China. This strategic point has given Hong Kong a great head start in terms of international investment options, hence, its rapid growth economic growth.
- Excellent Banking Facilities
Banks here offer multi-currency bank services to foreign investors. Such unique services have elevated Hong Kong to the global summit when it comes to banking. Along with stringent banking regulations, the rate of corruption here is low compared to countries like the UK, USA, and Germany.
- Less Burden Of Taxes
Taxes levied on corporate entities are also relatively low when compared to other top nations. VAT or dividend sales taxes are nonexistent. Friendlier taxation laws have made it possible for businesses to grow tremendously.
- Special Initiatives From Government
To attract and retain foreign investment, the Hong Kong government helps foreign investors in terms of policies and initiatives tailor-made for these kinds of investors. This is because foreign investment is the main economic stimulus here.
Special programs have been rolled out on company set up in Hong Kong by the government such as loan funding, market funds, incubator program that attracts foreign investments in a broader sense.
- Easy Selling Of Corporate Shares
It is also straightforward for business owners to sell their shares to expand their business, compared to other countries where selling shares is very tedious and risky. This process has been simplified for natural transaction processes. This has given companies in Hong Kong an easy time to utilize their money through the sale of shares for their good and expansion purposes.