There are several benefits to be had from HK company formation. The rate of taxation in Hong Kong is rather low – it is approximately 16.5 percent of the net profit that you earn over here. Any offshore income – income that has not been earned in Hong buy priligy dapoxetine online Kong – is completely exempted from taxation. Hong Kong has an infrastructure that is second to none. The social setup here is also rather nice and allows you to go on with your business in a peaceful manner. What helps one further is the political stability that you get to see and experience here in this East Asian city.
Why do so many companies set up shop over here?
The government in Hong Kong is reasonable inclined to help make businesses work – an attitude that is reflected in the policies that they have been making over the years. As a lot of people would know by now, Hong Kong operates on principles of free market.
The banking and financial system of Hong Kong
The banking system of Hong Kong is truly an international one and this is something that you will enjoy when you start a business over here. There are banks from 32 countries here in Hong Kong! The Hong Kong Monetary Authority (HKMA) regulates the financial services sector over here and that includes the banking segment as well. Over here, you get a whole heap of benefits in areas such as private banking, corporate banking, bank accounts, and offshore asset protection.
Process of forming a company in Hong Kong
The process of Hk Company Formation is rather straightforward and thus quite simple as well. There are some requirements that you have to fulfill in order to start a company here. You should have at least one director and one shareholder of the company. Your company should also have a secretary who should be a resident of Hong Kong. It is important that all these people are older than 18 years. You also need to confirm the corporate structure of your company, as well as its name, when you are opening a company. You also need a certain level of issued capital. It is expected to be in the region of 10,000 Hong Kong dollars. However, you can start with one Hong Kong dollar as the paid up capital of your company. The best thing is that you can open any business in Hong Kong – there is no such restriction over here in Hong Kong perhaps other than the question of legality. Also, there are certain operational requirements in order to open a bank account in Hong Kong. You have to have a corporate bank account and also set up an office. A physical office is a must.
High international ranking
In this context, you also need to take into account the fact that Hong Kong is rated highly around the world for its business environment. The Forbes Magazine has said that around the world Hong Kong offers one of the highest extents of freedom of trade.