Have you been thinking about starting a business but are not sure where to set up your location?

You may want to consider building a Hong Kong company. This is a great spot to start a business, and you’d be joining over 340,000 other small businesses in the city.

No matter what, you know you’d have a community of others to rely on if you needed it. But back to the basics. Why build a company in Hong Kong versus elsewhere?

1. It’s Easy to Start a Company

To start a company in Hong Kong, it usually only takes about a week. You won’t have to wait months or even years to get it started.

The best part? You don’t even have to be physically present to start a company in Hong Kong. Not only that, but the paperwork is very straightforward.

2. Low Tax Rate

Hong Kong has always been known for a low tax rate, but it is about to become one of the lowest corporate tax rates in the world once the global corporate tax rate increases to 15%. Hong Kong’s is at 16.5%.

If you want to save money on your taxes so that you can pocket more of your income, then you may want to consider starting a Hong Kong business.

When it is time to do your taxes, here’s a website on annual return.

3. Hong Kong Has Free Trade

The Hong Kong port does not charge for imports or exports that you bring into or out of the country. This can save you a lot of money over time.

There are also a few free trade agreements set up between Hong Kong and mainland China, New Zealand, and a few members of the European Free Trade Association.

4. No Currency Restrictions

It doesn’t matter what currency you decide to do business in. You can accept all sorts of currencies – from the Hong Kong Dollar to the U.S. dollar to the Euro.

You can make and receive payments as a company without restrictions from the government.

5. Hong Kong Is a Financial Hub

Hong Kong is known to be one of the biggest financial hubs in the world. Becuase of this, there are plenty of financial institutions to choose from for how to manage your money.

You can have multiple business accounts set up as well.

You also don’t have to worry about the currency exchange rates when working in Hong Kong due to the lack of currency restrictions. And your bank will help you take care of all of that.

Since Hong Kong is a financial hub, you’ll have business tools at your fingertips.

Start a Hong Kong Company

When it comes time for you to start a business, you may want to consider starting a Hong Kong company. You’ll save a lot of money due to not having to pay for duties on imports or exports as well as being able to accept many different currencies. You can also start a company in just a matter of days – so startup costs won’t add up either. 

What are you waiting for? Get started today!

And in the meantime, be sure to check out some of our other blog posts.