Hong Kong is another destination in Asia, which can be very attractive for companies and entrepreneurs. Even if Hong Kong went from UK to China back in 1997, it maintains its status as a special administrative region with the own currency (HKD, Hong Kong Dollar) and its own administration system.
Many companies from China come over to Hong Kong if they want to close deals with business partners or maintain subsidiaries in Hong Kong, as international business is much easier to do from Hong Kong rather than from Mainland China. International cashflow is possible without restrictions from Hong Kong, while from China there are many different obstacles.
Not only Chinese companies, but also many international enterprises from all over the world benefit from the location of Hong Kong in multiple regard, like (among others):
- The proximity to China, Korea, and Japan
- Beneficial conditions in Hong Kong (incorporations, banks, taxes)
- Flexibility of the management of the company
- International recognition
Company foundation in Hong Kong is strongly oriented on incorporation models of Commonwealth and has a lot of similarities:
- Share capital: 1 HKD only
- Quick and easy incorporation
- Corporate Secretary (mandatory requirement for all companies in Hong Kong)
- A local company address or a local representative for reception of business mails
All this as well as assistance with the opening of a local business bank account can be provided by Singabiz. Furthermore, we are in a close contact with Hong Kong Trade Development Council, which can facilitate or speed-up different processes.