As being an international metropolis with abundant information and opportunities, Hong Kong company formation gives unmatchable usage of an estimated consumer market of 450 million individuals southern China alone. With sound infrastructure and complete legislation of the own, it gives you an advantaged financial & commercial environment to numerous entrepreneurs and traders. Therefore, Hong Kong is a popular jurisdiction with international entrepreneurs trying to penetrate Chinese markets, and a lot more people establish their own companies in Hong Kong with different purposes, which improve not just the image of the HK Company Incorporation itself, but also the competitive ability within the international market. The following information will allow you to determine whether Hong Kong company formation is the optimum strategy whereby to achieve this.
We know many reasons exist for or factors can bring about the prosperity of business. While Hong Kong is recognized as among the best cities to build and operate a business, because it scores on top of factors that matter to businesses. Below are among the key benefits of starting a business in Hong Kong and definately will serve to offer you the answers whether Hong Kong company formation will be the optimum strategy.
1. Being international center of knowledge exchange and transportation hub. A focal point of maritime activities in southern China and is among the major ports around the globe in terms of tonnage of shipping using its facilities, cargo handled and the amount of passengers carried.
2. World’s most dynamic economies driven by the principles of free enterprise, free trade and free markets ready to accept all. No restriction on inward and outward investment, no foreign exchange controls and no foreign ownership restrictions
3. Strategically situated in close proximity to China. Air, rail, road and sea links are modern and efficient and offer unrivalled usage of China’s booming southern provinces for most foreign entrepreneurs.
4. With very low tax rate (around 16.5% on net profit), tax exempt for income not incurred in Hong Kong (offshore income)
5. With Robust Infrastructure, stable social and political environment, Most businesses elect to set up operations in Hong Kong since it thought to be politically stable having a pro-business governance and free market principles.
6. Enjoy ease of international banking system. Several banks represent the interest of 32 foreign countries. The Hong Kong banking and financial services is regulated by the Hong Kong Monetary Authority (HKMA). The benefits and features of using Hong Kong for private banking, bank accounts, corporations and offshore asset protection are extensive.
Hong Kong Company Formation process is fairly simple. The main requirements are:
1. Require a minumum of one company director/shareholder and Hong Kong Incorporation secretary (above the age of 18 ).
2. Confirm the company name and corporate structure
3. The absolute minimum issued capital requirement of HKD ten thousand, Paid-up capital requirement is only the sum of one dollar.
4. Business scope. There is certainly hardly any restriction in the area of business scope whenever you set up a Hong Kong company.
5. Operational requirements, like opening a Hong Kong corporate ousyuz account, putting together office (virtual office is definitely an option) etc.
If you want additional information on Hong Kong company Formation or others like Tax Planning, you can refer to Conpak CPA Limited.