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New Tax Incentives for the I&T Sector in Hong Kong

Written by: Editor

New-Tax-Incentives-for-the-IT-Sector-in-Hong-Kong.jpgInnovative companies in Hong Kong have a new set of benefits in store for them, starting with October. Hong Kong’s Chief Executive will announce them in her Policy Address in October. The innovation and technology sector in Hong Kong (I&T) will also benefit from a new, dedicated venture fund. Our company formation agents in Hong Kong can provide complete information about this business sector and the existing benefits for companies.
 

New benefits for the innovation sector in Hong Kong

 
Hong Kong’s Chief Executive Carrie Lam will announce a new set of tax incentives for companies in Hong Kong, in her Policy Address scheduled for October. The announcement was made by Nicholas Yang, the Secretary for Innovation and Technology.
 
Hong Kong is supporting the innovation and technology sector in more than one way: the Hong Kong – Shenzhen Innovation & Technology Park is a joint project to develop an 87-hectare loop.
 
Investors who plan to open a Hong Kong company in this business field can talk to one of our company registration agents who can help them apply for the incentives and programmes that apply to their line of work.
 

Support for I&T activities in Hong Kong

 
Moreover, Hong Kong also plans to launch an Innovation and Technology Venture Fund, in September this year. Right now, officials are finalizing the paperwork between the venture capitalists and the investees.
 
The Innovation and Technology Bureau in Hong Kong has several ways of supporting companies in this field: examples include funding schemes for R&D projects, incubation, and acceleration programmes for start-ups and co-working spaces and programmes for updating and/or transforming business operations. 
 
For more information on how to benefit from tax incentives if you open a company in Hong Kong, please do not hesitate to talk to one of our specialists. The Hong Kong company formation process is a quick and easy one, one of the key to attracting foreign investors in the city.
 
Contact our Hong Kong company formation agents for detailed information on the company set-up process and the current laws for foreign investors.
 

 

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