Every year, more than 150,000 companies are established in Hong Kong. As an international financial center, Hong Kong is one of the best places to do business, attracting entrepreneurs and investors worldwide.
- Fast business set up by foreigners who own it all
Hong Kong is one of the best places to start a business in the world. It’s quick and easy to start a business, company registration costs are low like easycorp is the best place for company registration, and the overall business environment is good. There are no limits on investments coming in or going out, and companies can be owned by anyone from any country. Foreigners can put money into almost any business and own up to 100% of the equity.
Most small to medium-sized businesses or trading companies in Hong Kong are set up as Hong Kong Private Limited Companies. At the Companies Registry in Hong Kong, a company can be set up with any share capital. No minimum amount of paid-up capital must be set by law.
- A tax system that is low, easy, and competitive
Hong Kong has one of the world’s most business- and person-friendly tax systems. There are only three direct taxes, and many allowances and deductions reduce the amount of tax that must be paid. All the information was delivered by easycorp at the time of registration.
- Two-tiered profits tax: The rate for corporations is 8.25 percent on the first HK$2 million of assessable profits and 16.5 percent on those over that amount. The tax rates for unincorporated businesses (like partnerships and sole proprietorships) are 7.5% and 15%, respectively.
- Salaries are taxed at a standard rate of 15%
- The property tax is 15%
There is no sales tax, value-added tax, dividend tax, interest tax, capital gains tax, dividend tax, or inheritance tax.
- English common law is the basis for a strong legal system.
Hong Kong is the only place in China with common law. Its commercial case law is well-established and highly regarded by the international business community and foreign investors. Basic Law says that the common law system will stay in place, and the Law Reform Commission’s goal is to keep Hong Kong’s and the rest of the world’s reputation for good law reform. Regarding law guidance, the easycorp gave his all the facilitations.
The Basic Law says that the Hong Kong judiciary must be independent, and its long-standing institutional structure guarantees this. Highly respected judges from the highest courts of other countries are invited to sit on the Court of Final Appeal as non-permanent judges to decide a wide range of cases, from commercial to criminal to constitutional.
- An international financial platform that is competitive
With its strengths in banking, capital markets, and asset management, Hong Kong offers investors, financiers, asset managers, funds, and financial institutions worldwide a complete and high-quality financial platform. In addition, corporate treasury centers also like Hong Kong as a place to be.
Hong Kong’s banking system is one of the best in the region, which lets it play a key role and offer a wide range of products and services. Hong Kong is the largest banking center in Asia for both Chinese and international banks. Easy corp will help you open a bank account in a bank that is best for your work. And it has 200 licensed banks, including 70 of the world’s top 100. Because of how quickly technology changes, many plans have been made to bring Smart Banking to Hong Kong.
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