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Are you looking to trade overseas? If you’re starting a business, you’ll want to look into trading abroad. With the global financial pandemic, many entrepreneurs were forced to find opportunities to work overseas.
According to Companies Registry figures, there will be 13,752 registered non-Hong Kong corporations by the end of 2020, up 10.07% over the previous year.
If you’re looking to expand your business into Asia, there’s no better place to start than Hong Kong. Here are a few reasons why Hong Kong is the perfect place to do business:
1. Proximity to Mainland China
Hong Kong is strategically located on the southeast coast of China, giving businesses easy access to Mainland China’s vast market of 1.3 billion consumers. And it offers businesses a gateway to the world’s second-largest economy.
2. Ease of Doing Business
It is an international financial center with a free and open economy. It is ranked the world’s freest economy by the Heritage Foundation.
Hong Kong business offers many advantages, including a simple and efficient tax-free system, a free flow of information and capital, and a pro-business regulatory environment.
3. English-Speaking Environment
Although Chinese is the official language in Hong Kong, English is also spoken. This makes it easier for businesses from English-speaking countries to operate here.
Additionally, the city’s location is ideal for businesses looking to expand into Asia.
4. Dynamic Business Environment
Hong Kong is a renowned business hub in Asia, offering a dynamic and cosmopolitan business environment. Additionally, the city is home to a large number of international companies, providing opportunities for networking and collaboration.
5. A World-Class Business Infrastructure
One of the reasons it is a desirable business destination is that it has an economic infrastructure. The city boasts a well-developed and efficient transportation infrastructure, which includes an international airport, a well-developed metro system, and a good road network.
6. Low Taxes
With a corporate tax rate of only 17.5%, Hong Kong has one of the lowest tax regimes in the world. This, coupled with a simple and efficient tax system, makes Hong Kong an attractive destination for businesses.
Hong Kong is one of the most attractive places to do business in the world. The city has a highly developed economy and a free market system. Additionally, It has an efficient regulatory system.
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Why Should You Consider Do Business in Hong Kong?
Hong Kong is a great place to do business because of its low taxes, easy incorporation process, and strong protection of intellectual property. If you’re looking to start or expand your business, Hong Kong should be at the top of your list.
If you are interested in another country, use the rest of our site to find out more about them. We cover all the best travel, business, and investment locations in the world!