Sometimes, starting a company abroad is a very advantageous option for business. Hong Kong, for example, is one of the destinations chosen by many entrepreneurs to establish their company. Find out in this article why this territory is the target for business founders.
The advantages Hong Kong offers for starting a business
Hong Kong is the entry point to the Chinese market. To receive help in setting up your company in Hong Kong, visit GuideMeHongKong. This Chinese administrative region is a financial hub that hosts thousands of foreign companies. It opts for a policy of economic freedom. For example, Hong Kong does not charge taxes for companies established in the country and operating outside its territory. In addition, Hong Kong does not apply customs tariffs. Moreover, it should be noted that it is not tagged by institutions as an offshore haven. Therefore, it allows entrepreneurs to enjoy wide tax benefits legally.
What should you know before starting your business in Hong Kong?
First of all, it is possible to operate in several business sectors in Hong Kong. Most international companies based there operate in the import-export or trading sectors. The option of a company specializing in service provision is also desirable for foreign entrepreneurs. However, regardless of the sector of activity chosen, the company must meet certain conditions. First, it must have a real person as its director. Secondly, in order to open a bank account for the company, it is necessary to provide proof of the company's activity to the bank. If you choose a large bank, your presence will be required when opening the account. Also, depending on the countries that are to interact with the bank account, the bank may refuse you. In addition, the company's accounts must be audited annually.