Why so many foreign businesses set up company in Hong Kong?

[Karen Chen]

There are just so many cost and operational efficiencies even for small to medium sized businesses. No need to hire staff or rent office locally as company can be operated online. No VAT, no sales tax. Corporate profit tax rate 8.25-16.5%. Easy to understand and reliable business, banking and legal system.

 

[Interesting]

I think because Hong Kong is a famous tax haven. Well-known examples of tax haven jurisdictions include Panama, Belize, the Seychelles, the Cayman Islands, the Isle of Man and Hong Kong. Very often, such territories are also called offshores, with companies registered under these jurisdictions described as offshore companies.

 

[Karen Chen]

I think because Hong Kong is a famous tax haven. Well-known examples of tax haven jurisdictions include Panama, Belize, the Seychelles, the Cayman Islands, the Isle of Man and Hong Kong. Very often, such territories are also called offshores, with companies registered under these jurisdictions described as offshore companies.

True to a certain extent. But Hong Kong is very different as it is one of the major financial centres in the world. Hence, it has strong credibility, solid legal, accounting, banking and business systems.

 

[DrakeHeyman]

Now, because of the pandemic, I think this situation has already changed.

 

[Karen Chen]

I would like to know how and why too. Thanks.

 

[DrakeHeyman]

Now, because of the pandemic, I think this situation has already changed.

Yes, I also noticed that many foreign companies have settled in Hong Kong. Perhaps because of the good economy and the possibility of development. However, the company I work for has moved to Singarup. I think it's a more developed place. Fortunately, we had no problems finding an office and moving.

 

[Marbman]

I thought lots of people are now leaving Hong Kong due to China's heavy handed approach.

 

[Karen Chen]

It just seems to me that Hong Kong is the most convenient and profitable country for developing your new business

I agree..

 

[Karen Chen]

I thought lots of people are now leaving Hong Kong due to China's heavy handed approach.

I spoke to many overseas contacts and some of them expressed concern over security for civilians as a result of the political issues. Being a local born who has resided in Canada and US for many years, Hong Kong has always been very safe, even now! Overseas media portrays a totally different, untrue perspective. Hong Kong has always been a safe, business friendly city!

 

[Rachel Ng]

From my perspective of consulting customers to register a company in Hong Kong for about 5 years, there are several benefits of doing business in this country that you could consider:

• Attractive tax system ​

• Free economy and trade​

• Straightforward access to Mainland China​

• World-class infrastructure​

• Productive workforce​

• Quality of life​

Plus, the superiorities of Hong Kong is that overseas entrepreneurs are permitted to have complete ownership of their enterprises registered in its territory. There is no limit of holding percentage; therefore, they have the right to own their corporates either primarily or entirely.​

 

[pmorris]

Well then, you can expect the best of the best and the highest levels of success.

 

[Karen Chen]

One can have their own Hong Kong company to operate business on a remote basis. That is, no need to be in the city, no need to hire staff or rent office locally as most operations nowadays are done online and can be supported by local service providers. This is a true business friendly city.

 

[masonstone]

There are just so many cost and operational efficiencies even for small to medium sized businesses. No need to hire staff or rent office locally as company can be operated online. No VAT, no sales tax. Corporate profit tax rate 8.25-16.5%. Easy to understand and reliable business, banking and legal system.

Its basically cost effective

 

[Koler]

Taxes are lower there, and the salary is lower as well so fewer expenses.

 

[Normen]

Hello. I am very grateful for such useful information for me.

 

[Karen Chen]

Hong Kong is a multi-million city with a lot of opportunities.

couldn't agree more.

 

[joan123]

Maintaining a business requires regular office cleaning. The company's productivity and staff morale may benefit both from it and make a favorable impression on prospective customers.
According to studies, a first impression is formed in seven to ten seconds, so keeping the office clean and organized is a great approach to generate a good one that will stick. The majority of the time, first impressions are created based on visual perception. The Chamber of Commerce Foundation claims that visual cues account for 55% of our initial impressions. The remaining 38% are predicated on what we hear. Therefore, it makes sense why office cleaning in London is so crucial.

 

[Connon Fitzgerald]

Hong Kong is located at the crossroads between East Asia and the West, making it a convenient place to do business in the Asian region. The city has an excellent infrastructure and extensive transportation links that facilitate international trade and communication with other countries.

 

[hillarbe]

Interesting discussion. I know that many people prefer opening their businesses in countries like Estonia or Spain. But I didn't think Hong Kong can be a good option. Thanks.