Hong Kong and Australia
have signed an agreement to allow for a better cooperation and support for financial innovation
between the two jurisdictions. This new agreement tightens the existing relations built between Hong Kong and Australia, including their trade and investment relationship. Foreign investors from Australia who want to open a Hong Kong company
can further benefit once the fintech agreement enters into force.
Benefits for fintech companies
The Australian Securities and Investment Commission and the Hong Kong Securities and Futures Commission have signed a new cooperation agreement that will allow for better support in the financial technology
in each of the two jurisdictions.
The latest agreement allows the two regulatory agencies to refer fintech businesses, located in either jurisdiction, to one another. Simply put, Australian companies that want to collaborate with Hong Kong companies operating in the fintech field will not have a simple manner of contacting and collaborating with them. This will also apply vice versa, from Hong Kong to Australia.
Hong Kong and Australia have a favorable trade and investment relationship. The two countries are also considering a double taxation agreement
, which would further increase their cooperation.
Our company formation specialists in Hong Kong can give you complete details on the treatment and taxation of foreign investors if you are an entrepreneur from Australia.
Fintech company formation in Hong Kong
Company formation in Hong Kong
is straightforward and involved only a few steps. These include selecting an available company name, preparing the company documents and opening a bank account and registering the company with the Companies Registry. Additional licensing may be needed and all companies need to observe the taxation principles as well as the accounting and reporting requirements.