Welcome To Hong Kong - The Pearl Of The Orient
Hong Kong, which has been ranked the ‘World’s Freest Economy’ for over a decade, is a regional business hub in Asia. Hong Kong’s close proximity to China, its similarities in terms of culture, social customs, and language, and its international business environment have made it an ideal base for foreign investors to enter the Chinese market. These characteristics also help mainland investors invest in regional and global markets. Hong Kong continues to be Asia’s second-largest and the world’s third-largest Foreign Direct Investment recipient.
The following are the key attractions for enterprises, investors, and entrepreneurs to set up a company in the Special Administrative Region of China:
Local Government Support
The Government of Hong Kong SAR is also committed to driving local business through a variety of initiatives:
Low, Simple, and Competitive Tax System
Businesses and individuals in Hong Kong enjoy one of the most tax-friendly systems in the world. Only three direct taxes are imposed and there are generous allowances and deductions which can reduce your taxable amount.
Here are the taxes which Hong Kong does not impose:
Free Trade Port
Another benefit of setting up a business in Hong Kong is its free trade policy. The city’s free port status and easy customs procedures make it easier for businesses and companies to operate.
To be eligible for Hong Kong’s Entrepreneur Visa, the applicant should be in a position to make a substantial contribution to the economy of the HKSAR, with consideration factors or startup businesses. Their startup business may be considered favourably if it is supported by a government-backed programme with a rigorous vetting and selection process. For example:
People who successfully apply for a visa can bring their spouse and dependent children under the age of 18, provided they have sufficient funds and suitable accommodation. The limit on their stay is the same as the visa holder – who is officially the ‘sponsor’. A spouse holding a Dependant visa can undertake any type of lawful employment in Hong Kong.
Applying for an Entrepreneur Visa
An entrepreneur must have the backing of a local company or individual willing to take responsibility for their repatriation if ever required. To apply for an entrepreneur visa, you will need to provide:
Why InCorp Global?
Setting up a company in a new country may seem daunting. InCorp Global helps businesses at every stage by providing seamless corporate services that enable entrepreneurs to focus on business growth.
InCorp is an award-winning company and has helped more than 10,000 global entrepreneurs and companies launch their Hong Kong and Asia ventures successfully. Count on our experienced team for the incorporation and compliance of your company.
Headquartered in Singapore, InCorp Global has built a leading presence in Southeast Asia including Indonesia, India, Hong Kong, Vietnam, Philippines, and Malaysia.
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