+5 Benefits of Registering Your Company in Hong Kong
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Hong Kong is one of the few truly global cities in the world, alongside cities like New York, London and Paris. International companies rely on Hong Kong-based companies as partners and clients, given Hong Kong's century-old reputation as a business centre. The same is not true for companies incorporated in countries like Panama, Uruguay, Indonesia, the Philippines, Thailand and even Delaware in the USA, which are often considered synonymous with shell companies and marked by their bad international reputation. However, that is not all. Here are 5 benefits with an added bonus of registering your company in Hong Kong:
1. The potential of being in the International Business Center
First of all, it is worth mentioning that Hong Kong has a reputation established as international business center With few trade barriers, low taxes and maintenance costs, its history and unique geographic location, with its tariff-free port, allow it to act as a bridge between Asia and the world. For all the above reasons, it is the best option to expand your business in Asia.
2. A Tax system in your favor.
Secondly, the attractive tax system Hong Kong encourages hundreds of entrepreneurs to locate their businesses and companies there. Hong Kong has a very competitive tax regime, free of VAT, profit tax, gross income tax, wealth tax or consumption tax. Taxes on profits are 0% for companies Offshore registered in Hong Kong. A profit tax rate of 8.25% applies to the first HKD 2,000,000 (USD 256,000) and a rate of 16.5% applies when the amount exceeds this amount (not annually; only once from the start of the company).
3. Privacy, little bureaucracy and remote control
Thirdly, the business privacy It provides an unparalleled benefit, guaranteeing the security of information. Companies that establish themselves in Hong Kong must provide information to the regulatory authorities (as in any other country in the world), but this information does not appear in the public registry, safeguarding a certain level of privacy.
In turn, in relation to regulation, the following stands out: Simplicity of corporate regulation. In this sense, a company in Hong Kong can be established in five days, avoiding lengthy processes that take weeks or months. Saving time is just one of the advantages of the simple application and documentation requirements. In addition, foreign directors or shareholders do not need to be physically present to open a company. You can set up a company without having to travel.
4. Tariff-free trade
Fourthly, Hong Kong – as a global centre of finance and international trade – guarantees the free tradeIt is a free port, meaning that no import or export tariffs apply. Hong Kong is also unique in its trade agreements, both with mainland China and the rest of the world.
In this context, it is important to highlight that there is a Hong Kong-Mainland Free Trade Area (CEPA). This arrangement facilitates transactions between Hong Kong companies and companies in mainland China. For example, companies can pay in both RMB and Hong Kong dollars. In addition, many Chinese companies also have a presence in Hong Kong, which makes transactions even easier.
5. Freedom of Foreign Exchange
Finally, it is worth mentioning a great benefit: the freedom of exchange. Hong Kong has no foreign exchange controls, allowing payments to be made and received worldwide without restrictions and in multiple currencies. Hong Kong also facilitates the use of foreign currencies in a variety of official contexts.
Having stated the above, it is possible to affirm that Hong Kong It constitutes a global center of finance and international trade exchanges, a center characterized by its Maximum freedom and security in transactions. The above has built a high international reputation around Hong Kong as a business center.
