After 155 years of British rule, Hong Kong became a Special Administrative Region allowing for its own economic, judicial and educations systems guaranteed for 50 years.
Being an open and tolerant society; Hong Kong and its people have an international outlook and commensurate business expertise – more than any other country in East Asia. People are free to speak their mind and follow their individualistic views and socio-political beliefs with freedom of press a constitutional guarantee. It is because of these many reasons that Hong Kong offers a dynamic, investor-friendly, and resilient economy for those wanting to invest and reap the benefits Hong Kong has to offer.
Why Hong Kong?
We mentioned above, Hong Kong is one of the best places in East Asia to invest in, But why? Why should I invest in a tiny island off southern coast of mainland China? Why not Singapore? Taiwan? Notice how I did not mention any western countries? Welcome to the ‘Asia-First Century’! With the world’s two fastest growing major economies being China and India, Hong Kong is the perfect base from which to access the rest of Asia, given its business environment and geographical position. Especially with its direct connection to China and its ‘Greater Bay Area’ plan. Interested in learning more? Here are the major advantages into investing in Hong Kong.
Hong Kong is only four hours away by plane from most of Asia’s key cities and five hours away from half of the world’s population. It is an hour’s drive (or train ride) from the Pearl River Delta (PRD), also known as the Greater Bay Area (GBA) which is China’s biggest manufacturing area. This is important because the PRD (GBA) accounts for ten percent of China’s GDP and for about 30% of the country’s exports, and thousands of overseas companies trading in China have established corporate entities for investment into or sourcing from the PRD in Hong Kong, due to the ease of setting up and doing business in and via Hong Kong.
Free Economy and Simple Tax System
Amongst others, Hong Kong’s advantages are the main reasons for its meteoric success over many years as an international business city, benefits such as its pro-business governance, rule of law and independent legal system. Hong Kong has one of the world’s freest economies and enjoys unrestricted flow of information, capital, talent, and goods with opulence. The Hong Kong dollar (HKD) is fully convertible and separate from the Chinese Renminbi (RMB). In addition, Hong Kong has the world’s third lowest “tax misery” rating, thanks to low rates and a simple tax system.
Furthermore, Hong Kong now has a significant (and ever growing) network of double taxation arrangements. These double taxation arrangements conform to the latest Organization for Economic Co-operation and Development (OECD) international standard on exchange of information, thereby facilitating proper tax planning in a multiple number of jurisdictions.
Strong Technological and Logistical Support
Hong Kong is also the Financial and Technological and logistics hub, with both sea and air freighters. Hong Kong International Airport was the busiest international passenger airport in Asia Pacific Region and the fourth busiest in the world; Hong Kong also operates the busiest cargo facilities worldwide with like its International airport Hong Kong’s container port is one of the busiest in the world, while Hong Kong’s public transport and telecoms sectors are first rate.
Dynamic and Globalized City
Hong Kong is usually business orientated being usually trilingual, highly trained, flexible, and mobile. There are lots of advantages in Investing in Hong Kong. For more information about the investment process and the Hong Kong Investment Visa, Primasia has written a beginner’s guide on how to obtain a Hong Kong investment visa here. For more information about us, Please click here to visit the Primasia Corporate Services website and learn more about company registration in Asia, as well as the wide range of corporate services we offer.
Primasia Corporate Services is a Hong Kong based corporate services provider that has been supporting its clients in Asia for over three decades. Among several of our services, Primasia Hong Kong (Primasia) offers our clients Online Accounting services, China Company Incorporation services, Virtual CFO services, MPF Filing services, Profit tax filing services, Employment return filing services, Wholly Owned Foreign Enterprise (WOFE) incorporation and registration services etc. One of our services which we are proud to be offering our clientele is our investment visa and working visa Hong Kong services.
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