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Hong Kong, Attracting More Fintech Firms

Written by: Editor

Hong-Kong- Attracting-More-Fintech- Firms.jpgThe 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.


More fintech companies in Hong Kong

Hong Kong encourages and supports the development of innovative technologies and products. Financial technologies are one example of how the accelerator/incubator programs have produced more interest and the development of the field: between August 2015 and August 2016 the number of fintech start-ups in Hong Kong grew by about 60%.
Development in this business sector is aided by the Fintech Facilitation Office of the Hong Kong Monetary Authority.
The easy company formation in Hong Kong is an important advantage for start-ups, fintech included. Also, the city imposes no minimum share capital for the corporations registered here.
Hong Kong is a city that has many accelerator programs and incubators for companies. Out of the existing fintech companies, a large percentage starts by operating in co-working spaces: a solution not only for reducing the costs associated with having a registered office in the city but also an opportunity for collaboration and development among fintech specialists. 


Fintech companies in Hong Kong

Hong Kong remains one of the most important emerging hubs for the fintech industry in the Asia-Pacific region. The evolution of the financial technology (fintech) sector may come as natural to Hong Kong which is a leading financial center in the region.
The Hong Kong Government welcome the development of the fintech sector and its expansion: recent years have brought an increase in the number of fintech start-ups in the city. The Innovation and Technology Venture Fund, planned for this year, will allow tech start-ups to cover at least some of the issues associated with funding. 
The fintech industry covers a wide range of business opportunities. Regulatory technology, blockchain technology or cyber security are just some of the examples.
If you would like to know more about investing in Hong Kong, the opportunities and the requirements for doing business here please contact our company formation agents in Hong Kong.