If you’re a businessperson searching for new business opportunities to increase profitability, which city do you choose as a business location? How do you choose between different countries?
If you’re considering starting a new company or expanding internationally, you should look for opportunities in Hong Kong.
Read on to learn more!
Quality Infrastructure and Logistical Support
Hong Kong is one of the premier regional transport hubs in Asia, with numerous transportation options. Logistical services are readily available with reliable package delivery and supply chain management. The city is updated regularly to ensure the airport is one of the best in the world, with plenty of international and regional connections.
The rail network provides excellent access to the rest of China and other parts of the country. The efficient port system ensures goods can be transported to their destination in a worry-free and efficient manner. Furthermore, it also has an advanced telecommunications system, which makes it a truly connected society.
Access to Talented Labor Pool
With Hong Kong’s well-educated population, businesses can access talented workers who bring their expertise to their teams. Furthermore, it ranks high in its level of English language competence, making it easy for businesses to communicate effectively with their employees.
Businesses can also access its deep pool of unusual skills and talents, allowing them to tap into an array of capabilities. Additionally, workers here are known to show a high level of loyalty and commitment to their employers.
Strategic Global Position
Hong Kong’s strategic global position in East Asia has been an attractive factor for businesses. One of the benefits of doing business there is the liberal economic system. This allows businesses to operate with minimal red tape and bureaucracy.
This openness has made the country a gateway to international business markets, allowing investors to benefit from lower labor costs. Hong Kong also has strong intellectual property protection laws, meaning that companies can rest assured their business plans, trademarks, and inventions are protected.
Low Tax Structure
Hong Kong is known for its low tax structure. The tax rate is only 16.5% for companies and salaries. The government does not levy any capital gains taxes. This makes it a great place to run a business, as almost all profits can be kept and reinvested.
The government has also implemented policies that enable tax deductions for activities such as:
- research and development
- business trips
- other worthwhile investments
Furthermore, the city’s zero-tariff policy and the potential for tax breaks make it easier to import and export raw materials and finished products. You can read about tax field audit here and learn more about how you’ll benefit from Hong Kong’s tax structure.
Robust Regulatory Framework
Businesses in Hong Kong can benefit from the various ways the government ensures corporate governance is upheld by strengthening shareholder rights, compelling transparency, and demanding compliance with relevant laws.
This way, Hong Kong helps firms minimize risk and operate efficiently. It also enables investors to better understand their investments and to be confident in the success of their businesses.
Plan Building Your New Company in Hong Kong Now
Doing Business in Hong Kong brings many benefits in terms of access to markets and ease of doing business. It’s a great place to do business and set up operations.
To fully benefit from Hong Kong’s impressive infrastructure and reputation, contact a local business expert to help manage the complexities of a new company or expansion.
Check out our other blogs to learn more tips and advice.