Reasons to start a Business in Hong Kong
Geographical location Hong Kong’s geographical location opens it to the surrounding markets of which China and Singapore are part.
The infrastructures of Hong Kong such as the airports, railways, and telecommunication are of a world-class standard.
Because of Hong Kong’s beautiful sceneries, many people are traveling to this region as tourists. Hence, businesses related to this area or serving these groups’ needs, are very lucrative.
Diverse business sectors
There are diverse business sectors in Hong Kong from which one can choose to engage in such healthcare, information technology, information, data analysis, financial institution, financial technology, education, and hardware.
The banking facilities in Hong Kong are of world-class standards. They offer their clients the ability to transact in different currencies.
The dynamic Hong Kong economic growth
There is economic freedom in Hong Kong mainly because of its strong legal system, efficient regulatory system; friendly economic policies, and strong laws against property rights infringement.
Friendly tax rates
Hong Kong is considered a tax haven because of its friendly tax rates. It is one of the lowest tax regimes in the region in terms of property tax, corporate tax, and profit tax rates.
Government policies and initiatives
The Hong Kong government understands the important contribution that businesses at the local or international level provide to its economy. It, therefore, has friendly policies and initiatives aimed at promoting the flourishing of the Gross Domestic Product (GDP). The government of Hong Kong allows foreign investors to own 100% of their company. It also offers business support to both local and foreign investors.
The Hong Kong government also has special initiatives aimed at attracting many foreigners to the region’s business sector such as incubator programs and funding schemes.