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Hong Kong is located in the heart of Asia which makes it an ideal country to start a business with. According to the Heritage Foundation, Hong Kong is considered the freest economy in the world. Even the World Bank has ranked Hong Kong third easiest country for a start-up business.
So what makes Hong Kong so special? Well, Hong Kong allows you to start up your business with an amazing taxation system. Moreover, the prime location that helps it connect with the world and easier business regulations makes it stand out from the rest.
Setting up a company can be troublesome but not in Hong Kong. The business-friendly environment, secured property rights, and reduced business risks make Hong Kong an ideal place to invest in. It is these reasons that attract foreigners to register a company in Hong Kong.
In this article, we will discuss the reasons why exactly you should register your business in Hong Kong with companies like Get Started HK. This will help you answer your business-related queries in starting up a business in Hong Kong.
1. Easiest Country To Set Up A Business
New investors always are on a hunt to find a place that gives them a business-friendly environment. Fortunately, Hong Kong is that place that comes with a package when it comes to starting up a new business. In 2020, the World Bank has ranked Kong third easiest country for a start-up business.
Hong Kong allows all types of businesses to run unless they are illegal. The government of Hong Kong is also supportive of Hong Kong-based businesses and has allowed them to open accounts in banks of their choice. Moreover, the government exempts taxes on all exports and a broad spectrum of goods is not taxed.
2. Heart Of Asia
Hong Kong is located in the heart of Asia. It is the ideal location of Hong Kong that helps it connect with other countries and give opportunities for start-up businesses to thrive. It is close to mainland China which helps it to connect East and the west. Investors always look for a place that gives them wide trading opportunities and Hong Kong is one of them.
Access to the Chinese market opens the door of great business opportunities for investors as it is the world’s largest populated country. One of the reasons why investors find Hong Kong an ideal place to invest in for their start-up business. Hong Kong provides investors with the best trade opportunities.
3. Productive Manpower
Hong Kong is known for its well-trained manpower. Citizens of Hong Kong are civilized and have amazing communication skills. You can set up a company anywhere but without skilled manpower, you can not run your company successfully. It is the workforce behind any company that makes it flourish.
Productive and talented manpower is like a backbone for any startup company. Fortunately, Hong Kong has a hugely talented and highly trained workforce. They are well-trained in all business matters. This is a bonus for investors that they won’t have to struggle much for the hunt for talent for their company.
4. Easy Taxation System
The country’s taxation system plays a vital role in the success of any start-up business. There are fewer chances of business success if a country offers strict taxation policies. However, this is not the case with Hong Kong. Hong Kong offers the easiest taxation system in the world.
No taxes are imposed on exports. In addition, a wide range of goods are not taxed. Salary taxes are comparatively lower than those offered in other countries. Investors don’t have to pay hefty taxes to the government. This makes Hong Kong an ideal place for foreign investors to invest in for a business.
5. Easy Business Setup
Unlike other countries, Hong Kong allows an easy start-up business. It takes a short period to set up a business in Hong Kong. Law and order also favor investors to invest in new business. More business rules and regulations are simple.
Hong Kong has made the registration of a company an easy process, unlike other countries that do not welcome foreign investors. Moreover, Hong Kong gives access to multi-currency bank accounts to foreign investors. They are allowed to open any bank account of their choice. Outstanding banking facilities also help investors to run an efficient business.
6. World Class Service
Hong Kong is located in the heart of Asia and has an interconnected transportation system. The efficient transportation system makes it an ideal place for investors to invest in a startup company. The transport network of ferries, minibuses, railways, etc makes the transport of goods a speedy process.
Victoria Harbor is the busiest port in the region. The ideal location and transport facilities provide world-class service to its customers and provide them with nothing less than best. The world-class infrastructure of Hong Kong helps start-up businesses to flourish in no time.
7. Compelling Government Policies
Government policies play an essential role in any business’s success. Investors are always on the hunt for a country that has business-friendly policies. Hong Kong allows complete ownership to investors. The government of Hong Kong is well aware of the fact that the growth of the economy is directly related to the investment made, which is why the government has extended its support to foreign investors.
The government has offered many programs to assist the growth of start-up companies. Organizations like Hong Kong Trade Development Council aid companies to find new markets for trade. They also extend their support to international companies to carry out business within the region. It’s a win-win situation for both.
Conclusion
Hong Kong is, without a doubt, an excellent option to invest in a startup company. The sense of complete ownership, business-friendly policies, and world-class infrastructure make it a great place for investment. So get started with renowned companies like Get Started HK to explore the world of opportunities that are waiting for you.
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