As a worldwide metropolis with abundant information, starting a company in Hong Kong gives a lot of access to a customer market of millions of people in southern China alone. 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 Asia Explorer information can allow you to decide whether forming a company in Hong Kong is the ideal strategy whereby to achieve this.
We know there are many factors that can contribute to the success of a company. 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 crucial benefits of setting up a business in this city.
It is a global center of data 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 has a dynamic economy of free markets, free trade and free business available to all. It has no limitation on inward, and outward investment, no foreign exchange curbs and no foreign ownership constraints. It is advantageously situated near China. Air, rail, road, and sea links are efficient and modern 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 great infrastructure and stable political climate, most firms opt to establish operations in Hong Kong since it is stable with governance that supports business. See this: https://www.youtube.com/watch?v=FbH2HVWzHMs.
Enjoy the advantage of a 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 for forming a company in Hong Kong with the help of Asia Explorer is relatively straightforward. You require a minimum of one firm director along with a resident business secretary. You will then verify the business name and company structure. You will need a minimum issued capital demand for HKD 10,000, and the paid-up funding requirement is just a dollar. There’s almost no limitation in the specialty of business scope once you establish a Hong Kong business. There are operational requirements such as opening up a Hong Kong corporate bank accounts and establishing an office. A virtual office is also a choice.