Start a Business in Hong Kong
Hong Kong has a dynamic economy that has made it an important hub for new businesses and new Hong Kong limited companies. Hong Kong is a shopping paradise and is one of the most picturesque tourist destinations. The reasons listed above are what make Hong Kong a great place to begin a business and establish an LLC private. Nowadays, many investors want to establish an enterprise within Hong Kong – but it isn’t as simple as it sounds to begin the process of starting a Hong Kong business.
How do you start a new enterprise within Hong Kong? There’s plenty to compete with within Hong Kong, and your business plan must be a success in order to succeed. The good thing about beginning a business in Hong Kong is that the GDP of this city growing city is on the rise and it’s ranked as the 5th highest ecosystem around the globe. 3E Accounting 3E Accounting offer complete guidance to start a business Hong Kong, while you are at home in your comfortable space.
Hong Kong is located in the center of Asia that is why it is a significant nation to trade with and to establish a Hong Kong limited company. It gives access to markets to China which is the most populous nation worldwide. The tax system is low as well as the secured rights to property, initiatives by the government are among the main factors that continue to draw investors to the region to establish their private limited companies.
The business Set up procedure within Hong Kong Is Quite Simplified and you can start your business within Hong Kong Without Traveling Here. How?
With our trusted registered private limited companies service to set up your company or Hong Kong limited company quickly and efficiently. There are numerous agencies offering consultancy services to help you start a business however, choosing the best online company register is contingent on the level of support and assistance they will offer to grow the scope of your Hong Kong business in this area.
Our services are available across the globe Our experience permits us to begin the business in a different country, without having our clients travel. Aren’t you amazed? Our specialists can take care of the registration and recruitment procedure opening an account at a bank and filing for a tax identification number and setting up an office in a local area without having to be within Hong Kong.
Many compelling reasons to start your own business in Hong Kong
Numerous large corporations such as Facebook, Google, Apple, Amazon, PepsiCo, Starbucks are investing in Hong Kong. Are you curious about the reason behind it? Here are some of the reasons:
Fewer tax burdens
Reduction of business risk
A business-friendly atmosphere
If you are intrigued by these motives and you are interested in starting a business, then take a look at the following compelling arguments to establish a company with Hong Kong. Foreign investors are the main contributors to the rapid expansion of the economy which is why Hong Kong’s government Hong Kong has begun special programs specifically for foreign investors.
If you are looking to spread your wings into Hong Kong, it is ideal to consider investing in the city. This idea could be enhanced by utilizing our expert consulting services that will assist you to start an entirely new business within Hong Kong from scratch.
Economic Growth in Hong Kong
The vibrant economic activity in Hong Kong is the principal reason to start your business with Hong Kong. The freedom to conduct business in Hong Kong is in the top spot in both the international and regional levels. The reason for this is:
(i) The economic policies
(ii) Transparent legal laws
(iii) The market open of Hong Kong
(iv) The efficiency of regulatory systems.
(v) Security of the property rights
Investment Opportunities in a Variety of Industries
As opposed to other countries, it’s simpler to establish an enterprise with a business in Hong Kong. The registration process for businesses is straightforward and cheaper so it’s recommended to establish your business with a business plan in Hong Kong with a concrete business plan. Thus, a lot of startups have sprung up throughout Hong Kong which is contributing to the economic growth of this region. The most lucrative sectors in Hong Kong are:
(i) Information & Technology
(iv) Financial Technology
(v) Professional services
(vii) Data analysis
(viii) Learning and education
Attractive government policies and initiatives
Foreign investors are eager to establish a business in areas in a country where the government is supportive. Hong Kong allows 100% ownership for foreign investors. They can thus become Hong Kong business owners and hold the top position within the business. Hong Kong’s government Hong Kong has started InvestHk which is a department that provides free investment promotion for the businesses and also provides assistance for foreign-owned companies.
Geographical Situation of Hong Kong
Hong Kong is situated in Central Asia, and thus it offers business access to various trading markets, especially mainland China. The location strategy to Hong Kong is one of the primary reasons investors are attracted to Hong Kong. Investors who have access to a broad range of markets are always prepared to expand their business into those locations as Hong Kong is one of the most sought-after markets!
Excellent Banking Facilities
Hong Kong offers multi-currency bank accounts to foreign investors. Hong Kong is a global market leader in the banking industry. In addition to the excellent banking services and a low rate of corruption, Hong Kong is quite low when compared to the UK, USA, Germany.
Taxes are less burdensome
the corporate tax rate of Hong Kong is extremely low when compared to other cities. There is no tax on dividends or VAT in Hong Kong. The tax rates currently applicable to Hong Kong are 16.5% profit tax, 15% of property tax, and 15 percent of the tax on salaried income. This tax-free system provided to the Hong Kong government is one of the primary reasons for companies are extending their operations in Hong Kong.
Special Initiatives from the Government
To draw foreign investment, the government needs to launch special programs. And they haven’t been able to fail in this regard. They have extended their hand of assistance arms to foreign investors since they recognize that the growth of Hong Kong’s economy is related to the amount of investment that is made in Hong Kong.
Hong Kong’s government offers specific programs, such as market funds, loan financing, and incubator programs that draw foreign investors.
The ease of selling corporate shares
The owners of businesses can easily sell their shares in order to grow their business even more with the money generated by the sale of shares. In contrast to other countries, in which the sale of shares to a corporate is quite a complicated process, Hong Kong has simplified the whole procedure. So, businesses that are established with the help of Hong Kong can easily utilize their funds by selling shares of the business to gain assets for the business.
Talented Labour Force
Talent in Hong Kong is well-educated and capable of adapting to changing conditions and has solid ethics. Hong Kong allows the employment of professionals from abroad. The policy on immigration in Hong Kong also allows bringing their families to permanently settle in Hong Kong.
Hong Kong has a world-class infrastructure for logistics, railways, and airports, as well as telecom. This is an important factor when establishing a company in a new location. The airport is well-developed within Hong Kong and is well connected to the major airlines. The railway stations in Hong Kong are excellently developed providing the most convenient way to move from one location to another. The deep-sea port in Hong Kong is developed in such a manner that it is now the best way to travel to Hong Kong.
Alongside the rapid and rapid economic growth, Foreign investors are interested in understanding the infrastructure of the country and government initiatives prior to making a decision to invest. Thus, Hong Kong has never failed any of its investors by offering a conducive business environment for investors.