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

K

Karen Chen

New Member
Verified Member
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

Interesting

New Member
Verified Member
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.
 
K

Karen Chen

New Member
Verified Member
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.
 
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DrakeHeyman

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

toccotoshia

New Member
Verified Member
How did it change because of the pandemic?
 
K

Karen Chen

New Member
Verified Member
I would like to know how and why too. Thanks.
 
D

DrakeHeyman

New Member
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.
 
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GavinBakerUH

New Member
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. https://osdoro.com.sg/co-working/coworking-singapore/ offers office space for every taste, which is sure to please you. They helped us choose a suitable office space, conference room, and even a recreation area. The office is clean, all the furniture is in perfect condition, and the rent is low. I advise you to contact this company if you are looking for office space
It just seems to me that Hong Kong is the most convenient and profitable country for developing your new business
 
Marbman

Marbman

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

Karen Chen

New Member
Verified Member
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!
 
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