Why Set Up Your Business in Hong Kong?
Looking for a place to start your business? Hong Kong would be very good choice to consider. Hong Kong, a “Special Administrative Region” (SAR) of China is operating under “One country, two systems.” Hong Kong is the first and foremost concerned with maintaining a calm, status quo, in order to make sure the wheels of business continued to run smoothly.
Strategic location
Located on the China’s South Coast, East of Macau on the opposite side of the Pearl River Delta. Hong Kong is surrounded by the South China Sea on the East, South and West, borders the Guangdong city of Shenzhen to the North over the Sham Chun River.
Hong Kong is well known for its deep natural harbour, which enables ready access by international cargo ships.
With its strategic location, Hong Kong was identified as the eleventh most popular destination for international tourists in year 2014 among countries and territories worldwide. A total of US$38,376 million was contributed by a total of 27.8 million visitors.
With the strategic location and the proven ability of attracting tourist worldwide, this will surely benefit businesses and companies in Hong Kong.
Workforce
Workforce is crucial in setting up and growing your businesses. At Hong Kong, you do not have to worry so much on this issue as it is ranked as the world’s fourth most densely populated sovereign state or territory. Besides, Hong Kong also has a very high Human Development Index ranking and the world’s longest life expectancy.
Besides that, the education system in Hong Kong is promoting bilingual or trilingual system, whereby students are learning Chinese and English. Hence, for foreign investors who would like setting up business in Hong Kong, language will not be a barrier for you.
Economy
Hong Kong is one of the world’s most significant financial centres, with the highest Financial Development Index score and consistently ranks as the world’s most competitive and most laissez-faire economic entity in the World Competitiveness Yearbook.
As one of the world’s leading international financial centres, with one of the greatest concentrations of corporate headquarters in the Asia-Pacific region, Hong Kong has a major capitalist service economy characterised by low taxation and free trade. Besides, Hong Kong, one of the Asia Four Tigers, was ranked second in the Ease of Doing Business Index, behind Singapore.
Not only that, Hong Kong is the largest re-export centre and the world’s eleventh largest trading entity. Its physical location has allowed the city to establish a transportation and logistics infrastructure that includes the world’s second busiest container port and the world’s busiest airport for international cargo.
International Events and Participation
Under the alias “Hong Kong, China”, Hong Kong maintains active partnerships with foreign nations in the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC), the International Olympic Committee (IOC), etc. Overseas Representatives of Hong Kong covers the fields of economy, trade, monetary finance, shipping, communications, tourism, culture and sports.
Hong Kong is recognised as both the safest city in the world, and the city with the longest life expectancy. In addition, the strategic location, and active participation in international events and building foreign relations with other countries, as well as being one of the important financial centres will assured expansion in your business. For more information and guidance regarding setting up business in Hong Kong, contact Link-Pro CPA Limited, info@link-procpa.com.
