The city of Hong Kong lies is Pacific are of Asia. It has access to every major consumer and a free economy. Today, Hong Kong tops the list of the ideal business environment regions. In fact, it is one of the less corrupt cities. Its GDP in the year 2011 stood at $49300.
One thing that makes it stand among other cities is its unique transport network, a good legal system and good communication Channels. This infrastructure has made Hong Kong as the most sought after city for entrepreneurs. In addition to infrastructure, the use of English language has attracted investors who see it as a chance to start businesses here. Here, the use of English in common law means equality among people. The city has a trained workforce making it attractive and making business people want to start their companies here.
To those who want may be interested in Hong Kong Companies Registry, an investor must have an open mind for business. This open mindedness allows a person to establish their businesses. Foreigners who wish to show transparency in what they are doing need to hire local consultants and executives who know the market trends and process that help to have a successful business.
Starters can hire the expertise of service providers in Startupr.hk dealing in different aspects of starting a company. Starting an enterprise in this city is a way of improving your business and the city’s economy. Many companies operating here are private entities.
Features of Private limited firms
The taxation principle in Hong Kong is known as territorial source
Business will only pay tax to the government if their earning is made within Hong Kong
Investors get a 100% tax-free if their business activities are done outside the city.
Investors pay a net taxation of 16.5%. This is the lowest tax regime
Investors don’t pay other taxation such as business tax, VAT and gain taxes.
The shareholders and directors do not need to be residents of the city
Hong Kong companies can enter the Chinese market. These businesses can also help to become intermediaries when trading with China.
A company registered in Hong Kong is permitted by law to appoint a foreigner living overseas as a director or shareholder
Any company needs to have one director and one shareholder. However, one person can hold the two positions
Investors must have a minimum share capital of $10000 Hong Kong dollars. It can be paid later
To incorporate a company, one must have a local corporate secretary and a registered office
Every company registered in the city must end with the texts limited. This shows it is a limited liability.
Company Registration in Hong Kong needs a bank account which is easy to get. When opening the account, sometimes the law requires that you meet face to face with the bank representatives. But today, the banks have developed an enormous network of specialized relationships, therefore making face to face meeting unnecessary. When you open a business account, an investor is also able to get added account features. The included features in corporate account include low transacting fees, debit and credit card, internet banking and multi-currency accounts.