Brief Introduction of the Merits of Hong Kong Company Incorporation
With advantages in geography, economy, infrastructure, communication, legal system and other aspects, Hong Kong provides all-round services for investors all over the world to do business. Thousands of international enterprises benefit a lot by setting up their companies in Hong Kong. It has been pursuing open policy all the time, and its highly free economic system is also one of the major factors for attracting numerous enterprises. The following are the convenience and privileges that can be enjoyed by establishing companies in Hong Kong.
Firstly, the company can enjoy the freedom of management. If a company is established in Hong Kong, it can be freely entitled with some words such as International, Asia, Hong Kong, Group, Holding, Industry, investment and so on. Moreover, with a widely scope of businesses, the company can do any business as long as it's legal.
Secondly, the company can be set up quickly and the registration process is very convenient. Besides, the required registration capital is little and it doesn't require capital certificate. Investors can also increase the registration capital when it is necessary.
Thirdly, it can enjoy tax preference. The tax system is simple and the tax rate is low. All goods are exempt from the duty except for imported cigarettes, wine, and other special goods. Generally speaking, the tax refers to the profits tax whose tax rate is only 16.5%. There's no other tax such as business tax, value-added tax and so on. And the profits tax only needs to be declared once a year.
Fourthly, its financial center has diversified financing channels which make it easy for enterprises to lending and financing. Without exchange control, it will be less constraint in the transfer of the capital which will bring much more convenience to the running of the capital. Many companies choose HK capital market as funds market, and then transfer the fund into the domestic according to the need of the domestic company.
At last, it also enjoys a high reputation which makes it easier for the company to gain international trust as well as improve corporate image. With the economic globalization, the business also tends to be more and more international and cross-border. Setting up company in Hong Kong can provide shortcut for the enterprise to do cross-border businesses as well.
Despite all these advantages, enterprises should notice that there are also some disadvantages. After the establishment of the company, there is an annual examination and annual report, and audit is also required when there is some business, which will produce certain amount of fee. Before registering companies in HK, oversea investors should make sure it's suitable to do so. Otherwise, it will be a waste of time and energy.
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Hong Kong, as an international financial center, with no trade barrier, free flow of capital, perfect legal framework, high transparency of regulation, simple tax system and low tax rate, attracts many investors to do investment and set up Hong Kong companies to develop their business. Thousands of international enterprises are benefits from the choice to set up Hong Kong companies.
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