TAGS: #hong kong
Hong Kong, the gateway to China, is one of the most reputed names in the business community. Known for its quality infrastructure, highly-educated workforce and easy taxation system, this is the place to be if you are looking for company registry. Let's see what makes this place unique …
- The location of Hong Kong is strategic. You are not only riding on the wave of the growth of Asia but you are also only two hours away from the largest manufacturing base in the world, four hours away from all the region's key markets and five hours away from fifty percent of the world's population . Each month around a 100 new companies register there to start their business.
- Unlike many other countries, Hong Kong does not have foreign exchange controls. What this means for you is that foreign currency can be exchanged and traded as per your convenience. Funds can be circulated without restrictions and credit operations can be handled easily and quickly.
- Registration period of a company is extremely low. It takes a day for e-filing incorporation, a couple of days or so for buying a shelf company and just around ten days for registration of a limited liability company. Company registry is an easy process.
- The city has no sales tax, no withholding tax, and no tax on capital gains, dividends or an individual's estate. Also, international shipping activities are exempt from profits tax, and no profits tax is levied on overseas earnings.
- The legal system here is well-established and respected. It has a common law system and a comprehensive arbitration law under which the UNCITRAL model law applies to international shipping disputes. Numerous leading maritime law firms are based in Hong Kong. The Companies Registry – The Government of Hong Kong Special Administrative Region keeps track of the number of companies registered there.
- Hong Kong company registry is easy mainly because it is one of the least corrupt nations in the world. Cronyism, influence-peddling and bribery are not common practices here. This allows you to carry on your business without unnecessary worries; during company registry and later during operation.
There is a good banking system, an easy taxation system and excellent infrastructure and strategic location.
It is the ideal place for company registration. Not only is the process quick and hassle-free, but you also get the benefit of easy running of the company once it's registered – after all, Hong Kong has been awarded the freest trade area globally for the past consecutive ten years by Forbes magazine. By August 2013, for instance, over 9,100 companies have registered there. No doubt forming your own company there might be one of the best decisions you will make!