There are many businesses all across the globe, based in the local towns and cities, and by world standards, many of them are doing pretty well. They are turning a profit, and they might even possibly be thinking, about expanding in the local area. However, for many of these businesses, this is as far as they go, which is a real shame, because there is a whole world out there, that would probably be very interested in the product or service that they have to offer. Many business owners are very nervous about making expansion plans, but the Asian market is growing at a very fast rate, and there are many opportunities to be had, if they would just take the chance.
The Asian market is wide open at the moment, and it is quite straightforward process to go ahead and set up business registration in Hong Kong. Once your business is registered there, then you can begin to hire employees, and try to find new customers. Having a business based in Hong Kong adds an element of class and prestige to your current business, and setting up a business there offers up so many benefits. The following are just some of them.
- Great tax benefits – Hong Kong operates under a different tax regime than that of the mainland China, and new startups can get VAT tax refunds, because the Hong Kong government wants them to locate there. The tax that you pay in Hong Kong is significantly less than China, and this allows you to have extra funds in order to be able to hire the best employees using local recruitment agencies.
- The gateway to China – Even though you are based in Hong Kong, you have access to one of the biggest business and consumer markets in the whole world. This will create huge business opportunities for you, and if you do it right, your business will grow at an alarming rate. Profits will surge, and you might have to take on new employees just to keep up. You will find ongoing government support to help you.
- Ease of doing business – There is very little bureaucracy in Hong Kong, when it comes to opening a new business. It is quite possible to be able to open and start your new company, in as little as two weeks, and thankfully, there are no foreign ownership restrictions for Hong Kong companies. You get to take advantage of this fantastic international transportation hub, that offers some of the best business infrastructure facilities available.
The main thing that you will like about moving your business to Hong Kong, is that there is an excellent independent legal system in place, that is unlike that, of the mainland China. It actually uses English common law, so there will be no confusion on your part. With regards to intellectual property rights, it is strictly enforced, and there are strict regulations in place to protect your patents and your copyrights. There is also a highly trained and skilled workforce, that is familiar with both English cultures, and Chinese culture.