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

K

Karen Chen

New 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
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
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.
 
D

DrakeHeyman

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

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

Karen Chen

New Member
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.
 
M

masonstone

New 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.
Its basically cost effective
 
Koler

Koler

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

New Member
Hello. I am very grateful for such useful information for me.
 
J

joan123

New Member
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

Connon Fitzgerald

New Member
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.
 
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