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.
A double taxation agreement between Hong Kong and Romania entered into force on November 21 after the two jurisdictions completed their ratification procedures. The provisions of the agreement relating to the taxation of income will apply starting with January 1st, 2017. Foreign investors who are interested in company registration in Hong Kong will find that these types of agreements are beneficial for those companies that have operational offices both in Hong Kong and in the other country.
Hong Kong’s Inland Revenue Department (IRD) released a new set of guidelines for the tax appeal process. Note No. 6 includes the legislative changes that have been enforced for this purpose. Companies in Hong Kong and taxpayers, in general, have the right to object to the assessment of their profits or the amount of income that has been assessed. One of our company formation specialists in Hong Kong can help you if you are having tax issues.
Experts expect that the total rent value for Hong Kong Island will grow by 4% in 2017. This initial estimation is based on the fact that the demand will remain strong. Predictions for the two main commercial property areas in Hong Kong: Island and Kowloon are different, with a higher concentration in the more popular business districts on Hong Kong Island. Entrepreneurs interested in company registration in Hong Kong prefer areas like Central or Admiralty because of their prime location.
Hong Kong’s commercial property market had a positive evolution throughout 2016, owing much of its growth to Chinese investors in Hong Kong engaged both in developing new premises and in renting or purchasing existing ones. Investment confidence was due to the ever growing demand that is caused by a relatively low vacancy rate, especially in top office areas like Central. Investors who are interested in company registration in Hong Kong need to consider renting or purchasing a property in the city where they will base their new business.
Bond trading between Hong Kong and Mainland China could be facilitated through a new “Bond Market Connect” platform, especially now when the Shanghai-Hong Kong Stock Connect offers more opportunities for investments and a better connection between the bond market in Hong Kong and important Chinese cities. Investors who are interested in company registration in Hong Kong for the purpose of establishing a retail investment fund or an SPV could benefit from this initiative.
If you are a foreign business owner interested in setting up a company in one of the Asian business hubs, choosing to work with a local lawyer is an important step. Many local law firms offer dedicated services to foreign investors and expats. How can you make sure you have made the best choice? Here is a short guide on how to hire a lawyer in Thailand or in another Asian location like Hong Kong or Singapore.
Hong Kong Government officials have dismissed the assumption that a departure tax will be implemented as a measure for combating parallel trading activities performed by Chinese nationals. This activity was observed in the case of same-day visitors in Hong Kong from the Mainland who were purchasing limited amounts of products and bringing them into China for trade purposes. A visa system was in place for Chinese nationals and it was changed in order to regulate this practice. Businesspeople interested in company registration in Hong Kong should not be discouraged by these regulations.
A recent study showed that there is a certain correlation between the growth in top-rated office rent and the growth of the value-added service sectors. The business sentiment grew in Hong Kong in the final part of 2016, after a slight downfall during the second quarter of the year. Experts believe that the positive trend will continue throughout the end of 2016 and onto 2017. The positive factors are the stabilization of the Chinese economy and US economic expansion. Chinese investors in Hong Kong who are looking to rent Grade A offices in the city can contact our company registration agents in Hong Kong.
Employers in Hong Kong need to take into account the payroll management once they hire their first employee. Two options are available to business owners: local or remote payroll administration. Internal payroll is also possible although many companies opt to fully outsource employment management and payroll to another company. One of our company registration experts in Hong Kong is able to help you answer some of the most common mistakes concerning payroll. Investors who want to avoid noncompliance can avoid making the common payroll mistakes.
Hong Kong Central remains the prime location for businesses in the city. The business district remains the one with the highest occupancy rates despite recent opinions that demand in this area will diminish as new real estate projects are nearing completion in other parts of the city. Investors who decide to open a Hong Kong company will choose to base their location here, despite the higher rents, because of the great connectivity and the location at the heart if an international business hub.
Insurance and energy stock performed very well, reaching their highest point in almost two weeks. The data was collected from several Chinese and US indexes. Nearly all of the major indexes closed at high values as the trading value on the main board grew by 10 percent. Out of the companies listed on the Stock Exchange, the best performing ones were those involved in insurance, banking or brokerage houses.
Hong Kong is known as a global business hub and a preferred location for many companies and investors who want to expand to the Asian market. Entrepreneurs here can tap in the city’s great business policies and the pro-business environment. With low taxes and great quality of life, Hong Kong is a good location for a start-up or as a company relocation destination. What are the main qualities an entrepreneur has to exhibit in order to be successful in Hong Kong? In addition, what are the main requirements to open a company in Hong Kong? Our experts summarize the main aspects of doing business in the city.