Benefits of Doing Business in Hong Kong
Hong Kong is a premier global business hub, offering unmatched advantages for entrepreneurs and companies. Here’s why:
Strategic Location
- Gateway to Asia, with easy access to Mainland China and ASEAN markets.
- Free trade agreements like CEPA enhance market entry.
- World-class port and airport for seamless global trade.
Business-Friendly Environment
- Low taxes: 8.25% profits tax on first HK$2M, 16.5% thereafter; no VAT or capital gains tax.
- Fast company setup (1-5 days) with no minimum capital or foreign ownership restrictions.
- Ranked among the world’s freest economies.
Robust Financial Systems
- Major financial hub with access to global banks and Hong Kong Exchange Board (HKEx).
- Stable HKD, pegged to USD, with no foreign exchange controls.
- English common law ensures transparency and strong IP protection.
Talent & Infrastructure
- Skilled, multilingual workforce (English, Cantonese, Mandarin).
- Advanced tech: 5G networks and smart city initiatives.
- Flexible visa policies for entrepreneurs and professionals.
We are not only providing SERVICES, but to provide SOLUTIONS, to our clients.
How to setup business in Hong Kong?
1. Choose a Business Structure
You must select an appropriate business entity. Common options include:
- Limited Company
- Sole Proprietorship
- Partnership
- Separate legal entity from its shareholders – in principle, liability of shareholders is limited to amount of share capital by each shareholders.
- Easier to obtain funding from banks, venture fund, and other investors.
- Build credibility and trust with clients and suppliers.
2. Incorporation of Limited Company
You must submit relevant incorporation forms to Companies Registry (CR) and Inland Revenue Department (IRD).
For startup businesses, we highly recommend to appoint a company secretary firm to handle all relevant documentation. Veritas Business Consultancy Limited offers a comprehensive solution to fit your various needs.
Read More > Our Solution on Company Incorporation
3. Post-Incorporation
After incorporation, you will receive a copy of Certificate of Incorporation and Business Registration Certificate.
Before starting business operation, you should consider:
- Setup a company bank account
- Build a company website
- Obtain relevant operating licenses, for example:
- Money Service Operators (MSO) License
- Trust or Company Service Providers (TCSP) License
- Employment Agency (EA) Licence
- Restaurant License
- Cold Store License
- and others……
- Keep accounting records and handle employment & payroll matters
- Submit annual return (NAR1) to CR
- Hold AGM meeting every year and prepare annual audited financial statements
- Submit Profits Tax returns and Employer’s Returns to IRD
We highly recommend to engage a business consultancy firm to handle all relevant documentation. Veritas Business Consultancy Limited offers a comprehensive solution to ensure your business meets all compliance requirements.
Read More > Our Solution on Corporate Compliance
Read More > Our Solution on Tax Reporting
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