Considering the best place to set up a company? Here are our top 10 reasons to setup a company in Hong Kong.
1. Located in the heart of Asia, Hong Kong is well located to access China and other countries in the region.
2. Setting up a business in Hong Kong is quick; incorporation can be completed within a week.
3. 100% ownership by a foreigner is permitted; there are no restrictions as to the nationality of the owner.
4. Scope of business is not limited to the declared business nature.
5. Excellent business infrastructure and facilities.
6. The tax system is simple and low with the profits tax rate being only 8.25 % on the first $2 million of profits and 16.5% on any profits above that amount. Salaries tax is a maximum of 15%.
7. Territorial tax system mean tax is only payable on profits derived within Hong Kong. Learn more here.
8. English common law is adopted, i.e., the legal system is independent of Mainland China. It is a stable and predictable system.
9. Multilingual workforce. The majority of the local workforce can speak English as well as Cantonese and Mandarin (main language in Mainland China).
10. Hong Kong is less regulated in comparison to the surrounding countries in the region. Want to know which activities ARE regulated? Read this.
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