Both Hong Kong and Singapore have their benefits and disadvantages in equal measure when it is a question of erecting a business. Some of the factors that you should consider when incorporating a company include the activity of the company, location of clients and suppliers, ease of doing business, taxation laws, ease of incorporating a company, type of documents required, and banking facilities required by the applicant.
Among others, these are some of the questions that any investor should ask before making their final decisions on where to invest. Both Hong Kong and Singapore are in Southeast Asia, and it is hard to choose the best place to set your business. Some decades ago, Hong Kong was popularly known for its business opportunities, and most expats preferred the location for business purposes and employment opportunities. However, that is not the case with the current business opportunities and possibilities. Singapore is picking, and it has grown into a business hub for the expats. These are some of the comparisons that this article will highlight to enable you to make informed decisions on the best place to invest.
Singapore is located between the East and the West. It maximized the benefit and rose to an Entrepot to serve both ends. Its central position gives it an upper hand when it comes to utilizing the port and thus receiving a relatively high number of visitors in its port. It has one of the best port facilities and connects over 600 major ports distributed globally. Singapore’s shipping port is ideally one of the busiest and oldest ports in the world. Its extensive marine services network makes it a destination for most investors.
Nonetheless, Hong Kong equally occupies a favorable location. Its proximity to China exposes it to more consumers thus customers. Approximately 1.2 billion potential consumers make Hong Kong’s location advantageous to incorporate a business. Singapore and Hong Kong give ease of access to the emerging economies within the Asian subcontinent. Singapore’s Changi Airport and Hong Kong’s International Airport are arguably some of the best airports globally. Both of the airports offer accessibility to all world’s major cities, making them better options for investors.
As an investor, depending on whatever your consideration with location is, any of the states can be a better option to start and run your business as they both offer an advantage in a way or another. Thus location is a win-win when comparing Hong Kong to Singapore.