Registering a company in Hong Kong has a number of advantages. Here are some of them:
- Tax incentives: Hong Kong attracts entrepreneurs with its low tax rates.
- Flexibility and ease of doing business: The registration process in Hong Kong is relatively simple and fast. The flexibility of business practices allows companies to engage in a variety of activities. It is also possible to do business internationally due to Hong Kong’s convenient geographic location.
- International Financial Center: Hong Kong is an important international financial center with a developed financial infrastructure and access to capital. This makes it an attractive place to attract investments and conduct financial transactions and for company formation in Hong Kong.
- Strong legal system: Hong Kong has an independent and efficient legal system based on common law. The judicial system is reliable and protects the rights of investors and business entities.
- Advanced infrastructure, perfect for any type of activity.
- International reputation:
- Hong Kong has a strong international reputation as a reliable business and financial destination. This promotes trust on the part of customers and partners.
- Hong Kong is one of the financial centers of the world. Respectable jurisdiction Companies doing business outside of Hong Kong are completely exempt from corporate tax.
- Low corporate tax rate of only 16.5% with no capital gains tax, no tax on dividends, no tax on interest, and no VA
- Low cost of organizing a business Possibility of buying a ready-made company.
- No currency control.
- A large number of double taxation treaties with other countries.
- Possibility to open an account in many payment systems and banks.
- The possibility to open a company and a current account in one Hong Kong is not an offshore jurisdiction.
Offshore Hong Kong – general information
An offshore company in Hong Kong is allowed to engage in any activity. Read more here https://www.fintecharbor.com/fintech-lawyer/.
For an offshore company in Hong Kong, it is mandatory to have a registered office and a secretary.
Features of the legislative system
The legal system of the SAR was seriously affected by the long stay in the status of a British colony. During this period, the entire regulatory framework was formed according to a clear English model, and after the recognition of independence, it practically did not change.
Therefore, the legislative branch is built carefully and in full accordance with the traditions of British law. In addition, it is permissible to fill out documents in English, which greatly simplifies the conduct of business.
Hong Kong is separated from mainland China but has the status of a special tourist zone, where its own rules apply – citizens of more than a hundred countries can use the right to a visa-free regime. They are allowed to enter Hong Kong for up to six months. Of course, this time is not enough to solve all immigration issues, but it will be enough to get acquainted with local customs and prepare the base for the subsequent move.
But it is important not to forget that only a person who has received a visa can legally live and work in the SAR. In addition, every foreigner who plans to exceed the permitted limit of visa-free stay is required to issue a special identification card. This rule applies to all persons over the age of 11. Its registration is free of charge; a non-resident just needs to contact the Migration Department.
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