5 Reasons Why You Should Be Doing Business in Hong Kong!
Something about Hong Kong attracts foreigners from all over the globe to register their businesses in Hong Kong; but what is it that makes Hong Kong so attractive and such an ideal place for business? The Wall Street Journal and the Heritage Foundation have referred to Hong Kong as the freest economy in the world. The simple tax system, elite location, developed communications, and free circulation of goods permits for businesses of all industries to succeed and flourish in the Hong Kong economy.
Easy Business Set-up for Foreign Business Owners and Entrepreneurs
Unlike many other countries who put a lot of restrictions on foreigners to open a business, China welcomes foreign entrepreneurs and business owners to develop their businesses in Hong Kong and provides them with the tools to grow successfully with little stress in the registry process of the business – a commodity that many countries do not offer to foreigners so easily.
Solid Infrastructure Facility Protects Businesses to Develop Efficient Business Operation
The infrastructure facilities in Hong Kong are what make the city so well-known worldwide to business owners. Hong Kong’s air and sea transport facilities provide world class service for all customers, so all shipping, logistics and freight forwarding services are first class and business owners can expect nothing but the best.
Part of what makes Hong Kong’s infrastructure so strong is its ideal location in the heart of the Asia-Pacific region. To match this ideal location, Hong Kong also holds an advanced telecommunication infrastructure that allows for cost effective prices for frequent travellers due to the decline in communication costs.
A Simple Tax System That Permits Maximum Earnings and Minimum Costs
Believe it or not, Hong Kong charges some of the lowest tax rates in the world that compliment a simply tax system; this is the main reason why foreigners seek to start a business in Hong Kong – low taxes.
A Fair and Transparent Legal System
While most first world countries provide a fair legal system, Hong Kong’s legal system puts the cherry on top of the cake to all of the other qualities the city has to offer to business owners. The legal system in Hong Kong leans to favour the business environment by providing fair business surroundings at all times.
A Free Economy Means the Sky is the Limit
Hong Kong is recognized as one of the world’s most liberal economic systems due to its free trade policy, no trade barriers and no limit for foreign onshore and offshore investments, so the capital just flows and flows. There are no tariff quotas or fees for general import and export trade, so the sky is the limit with trade and earnings from trade.
Hong Kong is recognised as one of the world’s leading financial centres. It remains an attractive place to invest as it offers significant benefits for foreign investors, including generally no foreign investment restrictions, no exchange controls in force on remitting funds overseas, a simple tax system and the lowest corporate tax rate of any major Asian economy, and it is a gateway to the market in mainland China.