Why Select Hong Kong For Company Formation

Honk Kong is considered as the best place for business in Asia by most of the business owners and it is just because of the appealing benefits the place offers when compared to the other cities. Hong Kong is an energetic place and business friendly city. This economic hub connects you to most of the known cities of Asia. Some of the other reasons which make the place unique for business are:

1. Registering and setting up a limited company in Hong Kong is hassle free. There is no limitation on nationality of business owners when it comes to company formation. You can easily fill in the forms with required details and get your business registered for Hong Kong company formation. All you need for start-up is a physical address and a person who will represent as company secretary. Most of the entrepreneurs hire local business centre for address and appoint a local as company secretary. The same person can also take up the role of director and shareholder.

2. You can easily get license for doing business in Hong Kong by submitting your business plan, showing that it will contribute in the growth of the economy by creating job opportunities.

3. The tax system here is very simple. There are only three taxes that you will have to think about and they are: Property tax, salary tax and profit tax. There is no other taxes applies here like VAT, capital gain tax etc.

4. Hong Kong is known for its free port and this makes overseas trading easy. There is no duty on most of the product which includes wine. Just for very few products you will have to pay duty for import.

5. Geographic location and connectivity are two other factors which attract business owners and force them to come and setup their business here. Almost all the major cities of Asia including Mainland China can be reached easily. There are more than 100 of airlines offering flights to different destination from Honk Kong. Many cities like Singapore, Kuala Lampur, Shanghai, and Beijing share the same time zone as Honk Kong which can be an added benefit when it comes to managing business deals.

6. Hong Kong is known for its open market policy and according to experts it has the fastest growing economy in the world.

7. Hong Kong is also the hub of consulates and embassies and this is the reason that more and more people feel free to invest here.

8. Availability of good resource is another added advantage that you can enjoy. Business cannot run without people and getting skilled educated people in Hong Kong is easy. Employing locals means they will know the language spoken in Hong Kong and it will be an added benefit for you. Since they know the language and the city they will contribute and help you in solving managerial issues.

9. Honkong has an independent legal system and it is also known for its corruption free government rule.

10. Travelling from one place to another is not very difficult in Hong Kong. The city is known for its world class public transportation system. You will find buses, taxies, ferries, trains and even minibuses for communication.