If you are planning on moving your country to an offshore destination, no place comes closer to the benefits Hong Kong has to offer. There are myriad reasons why people prefer Hong Kong over all other offshore companies.
From low tax rates to an affordable registration fee, Hong Kong has a lot to offer. Another advantage that Hong Kong has over all other potential destinations is the prospect of opening up your business to China. Furthermore, Hong Kong offers the freedom of running your company the way you please with minimal government interference.
Along with that, the company formation prices in Hong Kong are also one of the most reasonable if you go with a trustworthy company formation service.
Why should you register your company in Hong Kong?
- The Tax System
The most appealing factor for a foreign investor looking to register a company in Hong Kong is the tax structure. It has the most liberal tax system of all the developed economies today. The island has a two-tier tax system that encourages foreign investment and the inflow of cash from other countries. With the maximum tax rate capped at 16.5%, you can save large sums of money that would otherwise be paid as taxes. On top of this, there is no tax on capital gains and any cash flowing in from outside the island.
- The Chinese Market
Hong Kong has a Closer Economic Partnership Arrangement (CEPA) with Mainland China, allowing for free trade between the two. This agreement applies to all companies registered within Hong Kong, meaning if you have a business registered in Hong Kong, you can sell your products in China without any tariffs being levied on them. This is a huge benefit that you do not get with other places. If you want to register your business in a place that has a low tax rate and provides you access to a huge market, Hong Kong is the answer.
- Minimal Government interference
Hong Kong has been among the freest economies in the world for the past two decades because of its business-friendly laws and the freedom of doing business that it offers. If you register a company in Hong Kong, you are not bound by any restrictions to partner up with local companies. You can be the sole shareholder and get full ownership of your business without any interference from the government or any unwanted partners.
What fees to expect?
Registering a company in Hong Kong is made super-simple by company formation services like Get Started HK. You can get a number of packages that get the job done for you at the most reasonable prices.
- Basic Package
The basic package only includes document preparation and will cost you $315, of which $255 is the government fee.
- Standard Package
The standard package offers great value and provides you with a registered address, a company secretary, and a company stamp, among numerous other benefits. It will cost you $675, which is a bargain given the benefits you get.
- 12-Hour Deluxe Package
The deluxe package offers everything in the standard package, along with customer service support, bank document support, and a 12-hour setup. It is the best seller package and will cost you a very reasonable $775 while saving you considerable time.
- 12-Hour Premium
The premium package provides everything in the deluxe package with a dedicated phone line. It is available for $1695.
