Anyone who has conducted research on the best place in Asia Pacific to invest in would surely know without a doubt that the number one business destination in the region is Hong Kong. Setting up business in Hong Kong is a simple process which does not take up a lot of time. Additionally, investing in Hong Kong has the ability to bring business owners a wide variety of benefits. There are fairly many advantages business owners can stand to gain just by setting up a business in Hong Kong. In this article, we highlight a few of these advantages.
In the first place, there are already many international companies which have invested in Hong Kong. As such, Hong Kong already has an international flavour whereby anyone conducting business there would notice the various nationalities which currently call the place home. Mandarin and other Chinese dialects such as Cantonese are widely spoken in Hong Kong. However, ever since the British rule, locals have been exposed to the English language. For current immigration rules visa requirements visit here. Therefore, communication is not a problem. In fact, most graduates come highly skilled and proficient in English which is a good consideration for international companies seeking to employ locals into their workforce.
Another benefit companies can gain by investing in business in Hong Kong is the fact that it would be a gateway to conducting business in China. Although governed by China, Hong Kong is still able to enjoy relative flexibility when it comes to its own rules and regulations. As such, conducting business in Hong Kong would definitely involve less bureaucracy than if one were to set up business in China. On the other hand, the relationship between Hong Kong and China mean that businesses with existing operations in Hong Kong would actually enjoy ease of entry into China markets as well.
In terms of location, Hong Kong definitely wins hands down. It is in close proximity to other trade markets in Asia and around the world. Flights to key markets in Asia generally take less than 4 hours when compared to countries in other parts of Asia. Its location also means that Hong Kong provides the link of transport between neighbouring countries. Thus, in terms of trade, Hong Kong would definitely be able to create an advantage for businesses which are already operating from within its shores.
Another consideration for those thinking of company registration in Hong Kong would be the corporate tax system. Corporate profits are only taxed a maximum of 16.5% which makes the rate one of the lowest in the world. Business owners thinking of investing in Hong Kong should also bear in mind the fact that Hong Kong does not impose taxes on sales or on individual estates or witholding tax. This actually converts to hundreds of thousands of dollars that a business can save yearly on corporate tax rates and should be a key deciding factor on the decision on whether to set.