Hong Kong’s elite business foundation assured investors of the region’s stability, making it one of Asia’s most popular business hubs and one of the best places in the world to start a business.
We’ve made a list of benefits that Hong Kong provides for companies wanting to expand their business in Asia’s World City:
- Strategic Location — The most significant reason for entrepreneurs to set up a business in the region is its strategic location. It allows them easy access to numerous exchange hubs, particularly on the Chinese mainland.
- 2-Tier Tax Regime — They have a two-tier tax system, with 8.25 percent for the first HK$2 million in profits and 16.5 percent for the remaining income. There are no withholding taxes, capital gains taxes, business levies, or import taxes in the region.
- Quick Company Formation — For new businesses, the region offers direct and simple enrollment and a company formation Hong Kong procedures. The process of incorporation normally takes 3 to 5 days.
- Easy Bank Account Opening — Bank account online is currently used by most Hong Kong banks, making it easier for foreign entrepreneurs to open a business account in another country.
These factors are seen as a great asset by foreign entrepreneurs and investors in Hong Kong, as they help businesses grow.
