Why would you choose Hong Kong as a location of your international business? Here are the reasons:
- Great strategic location
- Free economy
- Skilled and productive workforce
- Liberal immigration policy
- Low tax rate
- Ease of doing business
- Mass network of transportation
To incorporate a company in Hong Kong, first you would want to make it easy for yourself by getting a professional expert or service provider who would take you through the entire process or even simply complete the process without you getting involved.
Great strategic location
Being close to Shenzhen and the southern parts of mainland China is a big advantage. International companies when expanding their business can never miss out to engage and sell to customers in China.
Hong Kong offers the most dynamic economies in the world because of three major principles including: free trade, free enterprise, and free markets.
Skilled and productive workforce
When you first started small, you may be doing the work from offshore, or by freelancers, or just by yourself. But gradually when your business grows in size and your customer base increases, you may start to come across hiring local employees.
Local HK employees by tradition are often considered the type of hardworking people. They can be competitive and are consistently seeking to enhance themselves. Depending on their past experiences, they may be highly skilled in their field of work, and well educated. There is a relatively large percentage Hong Kong workforce who have overseas working experience which gets them to easily adapt to international projects.
Overall, HK has pool of talents who are often under-rated, and who can adapt quickly to working with any other employees of other cultures including global and mainland China – Many HK employees can speak in English, Cantonese and Mandarin.
Liberal immigration policy
The policy allows people in about 170 countries or regions to enter HK without any visa from 7 to 180 days. People with the required skilled on short-term visitor visas can often enter and conduct some business negotiations and sign contracts.
Usually business entrepreneurs (from foreign countries) would relocate to Hong Kong and manage their business. Also, companies may hire foreign professionals who would require Hong Kong work visa to join their projects.
Low tax rate
Taxes may always be a primary concern for any entrepreneur who intends to set up a business in a given jurisdiction. Hong Kong offers the status of being one of the lowest tax jurisdictions in the world. Low taxes itself often is an important step for a startup to survive its first year of business.
Ease of doing business
In the city, HK has excellent infrastructure facilities. For a more mature business, it would be quite easy to rent an office for the daily operations of your employees. For temporary or short projects, you can consider renting flexible co-working spaces which are very cost effective.
Another factor is intellectual property rights. All intellectual property rights are taken very seriously within the city. There are always strict regulations in place regardless of industries.
Mass network of transportation
Incorporating in Hong Kong means you get access to its fully developed airport, subways, roads and sea links. The HK international airport is the busiest airport in Asia and the Pacific regions. The airport is able to handle more than 50 million passengers per season and host direct flights to over 150 international destinations.