Your business is a massive success—so much so that you’re thinking about business growth overseas. However, if you’re considering expanding into a new market, which country is best?
One of the best choices is Hong Kong. Hong Kong is a vibrant, diverse, and beautiful part of the world that welcomes overseas investment and trade.
It’s easily accessible from anywhere in the world and also offers direct access to the Chinese market—but that’s not all. To learn more, keep reading to find some of the biggest benefits of doing business in Hong Kong.
Easy Incorporation
If you’re a small business owner, you’ll find it easy to open and incorporate your business in Hong Kong. Overseas business owners can own 100% of the company, unlike many countries that require a local person to own part of the business.
Hong Kong actively encourages foreign investment, so you’ll have no problems opening an international business here. You can even invest in their stock market—check it out.
The country is considered one of the top in the world to do business in, as there are lots of incentives for business owners.
Free Trade
Hong Kong is known for its free and open trade, with few to no import or export charges. This means your company can save a lot of money since you won’t be paying high tariffs.
All you need to import and export is a shipping license, but that’s easy to obtain.
Highly Educated and Skilled Workforce
If you’re planning to hire local workers, you’ll have plenty of fantastic options. This is because Hong Kong is known for its highly skilled workforce—over 80% of adults have at least one higher education degree.
If you want to open a local office, you’ll find plenty of smart management experts who can run the show on the ground for you, even if you’re living elsewhere.
Many also speak a second or third language, which is great for communicating with clients all around the world. Workers in Hong Kong are also innovative, motivated, and comfortable in working on a global level.
Low Tax
One of the best benefits is low tax. Hong Kong has very attractive taxes and is considered to be a tax haven. Businesses and employees pay very low taxes.
Also, in Hong Kong, you’ll notice that there’s no sales tax, capital gains tax, or withholding tax.
Is Expanding Your Business in Hong Kong in Your Future?
Are you interested in doing business in Hong Kong? If so, we hope this guide helps you learn more about what to expect.
To get started, do more research into the type of business you want to open and consider working with a local consultancy firm that specializes in overseas business.
Before you know it, the business will be up and running—and profits will be rolling in!
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