The Advantages of setting up a business in Hong Kong
Hong Kong is one of the best places to enter an international market, especially in Asia and enjoy a limited administrative duties with low level of taxation.
p style=”color: #2c2c2c; text-align: justify; font-family: Montserrat; font-weight: 100; font-style: Normal; font-size: 20px; line-height: initial; padding-bottom: 2%;”>The location, a political environment and economy that are trustworthy, a tax and business approach that are business friendly, a world-class infrastructure and a productive legal system… are the main reasons why Hong Kong is recognized as such a successful business center to set up a business by investors.
The main reasons to set up a business in Hong Kong are:
Opening a business in Hong Kong is easy and inexpensive,
A foreigner is permitted to own 100% of a Hong Kong company, and they are able to be the sole director and shareholder in a Hong Kong company. There are no requirements to be local resident or a specific nationality,
In Hong Kong, English common law is prevalent and the legal system is separate from that of Mainland China,
A physical address is unnecessary for Hong Kong. A registered address is only necessary,
Companies in Hong Kong are permitted to open multi-currency bank accounts,
The level of taxation in Hong Kong is low (No customs duties apart limited number of products such alcohol, Tabaco….,No VAT, the first HK$2M of profit are taxable at 8.25% tax, the remaining is taxable at 16.5%.
Hong Kong has held the record for 17 years in a row as the world’s freest economy and the least corrupt nations in the world.
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