Hong Kong Company Registration

Hong Kong Company Registration

Hong Kong provides a range of advantages that appeal to international businesses looking to establish a presence there. These include its prime geographic location, unrestricted flow of information and capital, free trade environment, streamlined procedures for obtaining business licenses and permits, and advanced communications infrastructure.

These factors have helped position Hong Kong as a premier global business hub and financial center. By the end of 2020, there were 1,387,919 registered companies in Hong Kong, with 99,405 new companies established that year alone.

I. Hong Kong company environment profile

• Population
  The current population is approximately 7,496,981.
  
  
• Foreign Exchange Control
  None.
  
  
• Language
  Chinese and English, while Cantonese, Mandarin and English.
  
  
• Economics
  Hong Kong's economy is a free-market economic system that is highly dependent on international trade and is the most service-dominated economy in the world.
  
  
• Legal System
  Hong Kong's legal system is based on the original common law system, supplemented by statutory law.
  
  
• Time Zone
  GMT+8
  
  
• Currency
  HKD
  
  
• Main Company Legislation
  Hong Kong’s company law is the Companies Ordinance.

II. The advantages and functions of Hong Kong company registration

1. Hong Kong company registration type
   Unlike traditional tax-exempt offshore jurisdictions, this type of setup requires the submission of annual returns, which enhances transparency and credibility—making it more widely accepted by international banks, financial institutions, and clients.
   
   
2. Fresh image
   Hong Kong companies enjoy a strong international reputation and are not classified as a tax haven by the OECD, but rather as a low-tax jurisdiction. Businesses registered in Hong Kong are often perceived as credible and professional, making them a popular choice for trademark registration and international operations.
   
   
3. Low taxes
   Taxation is a key consideration for entrepreneurs when choosing a jurisdiction for business setup. Hong Kong is recognized as one of the world’s most tax-friendly jurisdictions, offering a straightforward corporate tax system with low rates. It imposes no capital gains tax, value-added tax (VAT), sales tax, or withholding tax on dividends, interest, or social security benefits.
   
   
4. Great location
   Located at the heart of Asia and in close proximity to Mainland China, Hong Kong serves as an ideal gateway and strategic transit point for investments throughout the Asian region.
   
   
5. Re-export trade/e-commerce
   Hong Kong offers tax exemption on income earned outside its borders, making it well-suited for conducting entrepôt trade. Additionally, Hong Kong companies can be registered on major e-commerce platforms, enabling them to engage in cross-border e-commerce activities efficiently.

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