The initial prediction for Hong Kong’s GDP rate increase in 2017 was lower than the one predicted in the latest forecast. A 2.4% increase is expected, compared to only 1.8% as initially predicted. This positive evolution is due, in part, to Mainland China’s recovery. Investors who are interested in Hong Kong company formation can use the predictions released until this point for several industries, including tourism and services.
The number of fintech start-ups in Hong Kong increased by about 60% during 2015-2016, according to the Hong Kong Startup profiling Survey. Moreover, this growing business field that shows important potential has also been a major recipient of investment: some 400 million US $ venture capital investment in fintech took place in the city in the analysed period. The Hong Kong company formation process is quick and easy for all types of companies, an advantage for those who are considering opening a fintecth start-up in the city.
Hong Kong’s newly elected Chief eEecutive, Carrie Lam, stated in her first speech after the election that she plans on following a new tax policy. She highlighted the fact that she does not intend to change the low and simple taxation regime but will look towards introducing new tax breaks. Investors who are interested in Hong Kong company formation already benefit from a very advantageous tax regime. Nevertheless, new tax breaks would further increase the territory’s attractiveness.
Hong Kong and Singapore are both in the top choices of cities for expats. They are dynamic and competitive cities that combine both the Asian and the Western cultures. This makes them a top choice both for foreign investors and for expats who want to relocate here. According to a cost of living survey ordered by the Economist Intelligence Unit, Hong Kong and Singapore are included in the top ten cities for expats with a high cost of living. However, Hong Kong remains the more affordable option for expats who want to relocate in the Asia-Pacific region.
Hong Kong remains in top three of the Asian Competitiveness report as the city with the most robust economy in the region. The survey was released as part of the Asian Annual Conference in Hainan province, China. The Special Administrative region has a number of undeniable characteristics that are advantageous for all those investors who are interested in Hong Kong company formation.
A recent Inland Revenue Amendment includes measures that would increase the city’s attractiveness as a center for aircraft leasing. This initiative would mark the Government’s intention to strengthen another business sector in Hong Kong, apart from the traditional financial and professional services sectors. Aircraft financing is, in this context, a good business proposition for investors in Hong Kong, which the number of commercial aircraft to increase substantially over the next years.
Co-working spaces can be a most welcomed solution for growing businesses and investors in Hong Kong who also want to expand their professional network. The city is a financial hot spot in Asia and many start-ups are taking their first steps here. The easy company registration in Hong Kong and the lack of requirements for a minimum share capital are two important considerations for investors. Moreso, those who are looking to budget their start-up can consider managing their business from a co-working space in Hong Kong.
A series of new policies, including tax measures for the insurance industry, were presented by the Hong Kong Financial Services Department at the beginning of the month. These changes aim to improve the city’s position as a well-known insurance hub in the Asia-Pacific region. Hong Kong is a business hub and one that offers investors, particularly advantageous tax requirements. Investors who want to open a Hong Kong company in the financial or insurance sector often choose this jurisdiction because of the tax measures.
Hong Kong’s tourism industry was one of the favored industries after the 2017 Budget was drawn up. The relief measures planned for this sector include an important one-year waiver for travel agents. The entire tourism industry, however, will benefit from the new Budget measures: the waiver will also apply to hotels and restaurants in Hong Kong. Investors who want to start a travel business in the city or open a Hong Kong company can benefit from this change in 2017.
Hong Kong’s Financial Secretary announced his most recent plans for creating a new tax policy. One issue that stood out was the narrow tax base in Hong Kong and the importance of maintaining a predictable tax regime which the city is known for. Investors who open a Hong Kong company primarily take advantage of the low taxation regime. Changing the current situation could mean risking impacting the international competitiveness, the Secretary believes.
The exports of goods from Hong Kong increased by 9.8% in December 2016, on a year-on-year basis. The value of re-exports also rose and the analyzed period was also a good one for imports. Comparing the volume of imports from 2015 to that in 2016, last year was one that registered good development in the trade sector. Company registration in Hong Kong is straightforward for all companies, including those in the import and export business or goods transportation.
John Tsang, one of the candidates for the Chief executive position, announced a series of tax reform measures that would be beneficial for small and medium companies in Hong Kong. Accounting specialists welcomed his proposals but asked why he did not come up with these measures while he was acting as the Financial Secretary. Our company registration agents in Hong Kong take a look at the proposed tax plan and what it would mean for small businesses in Hong Kong.
Hong Kong has one of the best infrastructures in Asia, as highlighted in the recent BMI Research Asia-Pacific Infrastructure Risk/Reward Index. On a global level, the city occupies fourth place, similar to Singapore. Hong Kong is known for having a well-developed infrastructure market and the research highlights the city’s strong points. Investors interested in company registration in Hong Kong will often choose this location over others in the Asia-Pacific region particularly because of the well-developed business environment.
The total profit recorded in the restaurant's sector in Hong Kong increased in 2016 by 2.9 percent. The largest increase was recorded during the fourth quarter of last year, with a value of approximately 27.8 billion HK $. Hong Kong is not only an important business center in the Asia Pacific region but also a tourist destination, receiving a large number of tourists every year, especially from Mainland China. Investors who open a Hong Kong company can enter the food and service industry.
Hong Kong executives aim to boost the growth of the city through several measures, including tax breaks. Among the plans to encourage growth is a tighter cooperation with China, with which Hong Kong already has a good collaboration including in the One Belt, One Road Initiative. The Special Administrative Region is already an attractive investment option in Asia, especially since the Hong Kong company formation procedures are so straightforward.
Hong Kong is the top destination at a world level for touristic purposes. In 2015, Hong Kong received 26.7 million foreign tourists and thus, the investors who are interested in opening a company in Hong Kong can benefit from the effects of this positive trend. It is necessary to know that businesses which operate in this field have to obtain a set of special permits and licenses, issued by relevant authorities for the specific activities the company will develop. Our team of specialists in company formation in Hong Kong can offer assistance on the requirements applicable to foreign businessmen.
Hong Kong property market is developing at a fast pace, for both residential and commercial sectors, due to an increase in the demand of the local population and businesses. Foreign investors who want to open a company in Hong Kong will also need an office for their business and in this sense, we mention that the local projects carried out at the moment will provide in 2017 a supplementary office space of 2.8 million square feet. Our specialists in company formation in Hong Kong can offer more details related to the legal aspects of renting an office space here.
Hong Kong has one of the most developed Internet connection infrastructures in Asia Pacific. Add this to the fact that China is the largest manufacturer in the world when it comes to products used in the industry and you will have the perfect mix to make the Internet sector in Hong Kong one of the most powerful in the world. If you want to start a business in the Internet sector, you can rely on our Hong Kong company formation specialists for assistance.
Hong Kong is one of the most beautiful cities in the world and the number of tourists is growing continuously. But not only tourist come to Hong Kong, the city also being a magnet for foreign enterprisers and their coming has provided numerous investment opportunities in the real estate industry. This has led to this sector to become one of the most prolific in the year that just ended. Our Hong Kong company formation specialists can assist foreign investors interested in opening companies here.
At the end of 2016, the Hong Kong Government announced the enablement of a new investment scheme for the agricultural industry which will encourage local farming and the expansion of one of the most successful innovation and technology development programs. Our company formation specialists in Hong Kong can assist foreign investors who want to open companies here.
During the recent years, Hong Kong has emerged as a sought licensing destination for many licensors and licensing agents. Since Hong Kong hosted the first International Licensing Show which was held in 2002 it has attracted the attention of this category of investors in the licensing industry. Below we will show the main factors which have led to the development of the licensing industry in Hong Kong. Our company formation specialists in Hong Kong can assist foreign investors interested in opening companies here.
2016 ended on a positive note for the Hong Kong Stock Exchange (HKSE) as it registered a record number in initial public offerings (IPOs). Last year, the HKSE came second after the New York Stock Exchange in terms of funds raised from IPOs. The new year also brings good news for the IPO market in Hong Kong, as A-share activities are expected to grow. Our company formation specialists in Hong Kong can offer more information on the listing requirements imposed by the HKSE.