As being an international metropolis with abundant information and opportunities, Hong Kong company formation gives unmatchable usage of an estimated consumer market of 450 million folks southern China alone. With sound infrastructure and complete legal system of its own, it offers an advantaged financial & commercial environment to a lot of entrepreneurs and traders. Therefore, Hong Kong is a popular jurisdiction with international entrepreneurs trying to penetrate Chinese markets, and a lot more people establish their own companies in Hong Kong with various purposes, which improve not only the image of the Company Incorporation In Hong Kong itself, but the competitive ability in the international market. The subsequent information can help you determine whether Hong Kong company formation is the optimum strategy through which to achieve this.
We know many reasons exist for or factors can contribute to the success of business. While Hong Kong is considered one of the better cities to determine and run a business, as it scores high on factors that matter to businesses. Below are among the key benefits associated with setting up a business in Hong Kong and will serve to present you with the answers whether Hong Kong company formation is definitely the optimum strategy.
1. Being international center of information exchange and transportation hub. A focal point of maritime activities in southern China and is among the major ports around the globe in terms of tonnage of shipping using its facilities, cargo handled and the number 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 situated in close proximity to China. Air, rail, road and sea links are modern and efficient and provide unrivalled use of China’s booming southern provinces for a lot of foreign entrepreneurs.
4. With very 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 decide to set up operations in Hong Kong because it thought to be politically stable having a pro-business governance and free market principles.
6. Enjoy ease of international banking system. Several 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 benefits and features of utilizing Hong Kong for private banking, bank accounts, corporations and offshore asset protection are extensive.
Hong Kong Company Formation process is relatively simple. The primary requirements are:
1. Require at least One company director/shareholder and Hong Kong Company Incorporation secretary (above age of 18 ).
2. Confirm the company name and corporate structure
3. A minimum issued capital requirement of HKD ten thousand, Paid-up capital requirement is simply the sum of one dollar.
4. Business scope. There is almost no restriction in the area of business scope when you set up a Hong Kong company.
5. Operational requirements, like opening a Hong Kong corporate ousyuz account, setting up office (virtual office is surely an option) etc.
If you need more details on Hong Kong company Formation or others like Tax Planning, you can make reference to Conpak CPA Limited.