As an international metropolis with ample information and opportunities, Hong Kong company formation gives unmatchable access to an estimated consumer market of 450 million people in southern China alone. With sound infrastructure and complete legislation of its own, it offers an advantaged financial & commercial environment to numerous entrepreneurs and traders. Therefore, Hong Kong is a popular jurisdiction with international entrepreneurs looking to penetrate Chinese markets, and increasing numbers of people establish their own companies in Hong Kong with various purposes, which improve not only the image of the Hong Kong Company Formation itself, but the competitive ability within the international market. These information can help you determine whether Hong Kong company formation is the optimum strategy whereby to achieve this.
We know many reasons exist for or factors can bring about the achievements of business. While Hong Kong is regarded as among the best cities to establish and run a business, as it scores high on factors that matter to businesses. Below are some of the key advantages of setting up a business in Hong Kong and definately will serve to offer you the answers whether Hong Kong company formation will be the optimum strategy.
1. Being international center of information exchange and transportation hub. A focal point of all the maritime activities in southern China and is among the major ports around the globe when it comes to tonnage of shipping using its facilities, cargo handled and the amount of passengers carried.
2. World’s most dynamic economies driven through the principles of free enterprise, free trade and free markets available to all. No restriction on inward and outward investment, no foreign currency controls with no foreign ownership restrictions
3. Strategically located in close proximity to China. Air, rail, road and sea links are modern and efficient and provide unrivalled access to China’s booming southern provinces for a lot of foreign entrepreneurs.
4. With suprisingly low tax rate (around 16.5% on net profit), tax exempt for income not incurred in Hong Kong (offshore income)
5. With Robust Infrastructure, stable social and political environment, Most businesses choose to set up operations in Hong Kong because it thought to be politically stable using a pro-business governance and free market principles.
6. Enjoy comfort of international banking system. A number of banks represent the interest of 32 foreign countries. The Hong Kong banking and financial services is regulated by the Hong Kong Monetary Authority (HKMA). The features and benefits of using Hong Kong for private banking, bank accounts, corporations and offshore asset protection are extensive.
Hong Kong Company Formation process is comparatively straight forward. The primary requirements are:
1. Require a minumum of one company director/shareholder and Company Incorporation In Hong Kong secretary (above the age of 18 ).
2. Confirm the company name and corporate structure
3. A minimum issued capital requirement of HKD 10,000, Paid-up capital requirement is only the sum of one dollar.
4. Business scope. There is certainly hardly any restriction in business scope when you set up a Hong Kong company.
5. Operational requirements, like opening a Hong Kong corporate ousyuz account, establishing office (virtual office is definitely an option) etc.
If you need more information on Hong Kong company Formation or others like Tax Planning, you can make reference to Conpak CPA Limited.