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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Hong Kong
Hong Kong is prime real estate for any investor seeking to open or expand their business into this market region. Not only is Hong Kong known for its prime location, but its stable political environment and booming economy is one of the main attractions that keeps drawing investors into this market.
Having a business-friendly tax and business approach doesn’t hurt its reputation either. Investors are scrambling to get a foothold and register a company in Hong Kong because of its world-class infrastructure and productive legal system.
Why Are Investors and Business Owners Choosing Hong Kong?
Because opening a business in Hong Kong is not only inexpensive, but it is also easy, two factors which already work in favour of new businesses. A foreigner is permitted to own 100% of a Hong Kong company, which is fantastic news for investors who want to maintain full control of their company without feeling like they’re being forced to give up any equity.
In addition, Hong Kong also offers investors stability and it is recognised worldwide as a booming business hub. Another benefit that entices investors to open a business in this region is that you don’t need a physical business address to get started. A holding address is more than adequate, which makes things a lot easier for foreign investors especially.
Companies are also allowed to open multi-currency bank accounts and any profits which are made outside of Hong Kong are tax-free. Hong Kong’s world-class business infrastructure and contributed to its reputation as the world’s freest economy. For all of these reasons and more, it is no wonder investors are eager to tap into this thriving market and eager to register a business in Hong Kong.
The Types of Entities Available for Registering a Company in Hong Kong
When registering a company in Hong Kong, these are the types of business entity options that are available to the investor:
- Limited Company – This option is often the top choice for small and medium companies who register as private LLCs
- Partnerships – This option is usually run by at least two people
- Sole Proprietorship – This option involves just one owner who runs the show. Because it is only run by one person, it is usually more suited for small businesses.
- Branch, Subsidiary or Representative Office – These options are catered towards foreign-owned companies
What Is the Procedure for Registering a Business in Hong Kong?
It is easy for investors to get started on registering a business in Hong Kong. A quick overview of the process can easily be simplified into three steps:
- Choosing a company name
- Obtaining a certificate of incorporation
- Obtaining the Employee’s Compensation Insurance and Mandatory Provident Fund (MPF) Schemes with a private company or bank.
Of course, there are more detailed steps involved in the process, and the easiest way to help you navigate through the whole thing as quickly and efficiently as possible is to engage in the services of a qualified professional.
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