{"id":5645,"date":"2022-08-20T04:42:21","date_gmt":"2022-08-20T04:42:21","guid":{"rendered":"https:\/\/www.elitestage.cn\/?p=5645"},"modified":"2023-03-29T10:58:25","modified_gmt":"2023-03-29T10:58:25","slug":"7-reasons-why-hong-kong-is-no-1-for-international-trade-in-asia","status":"publish","type":"post","link":"https:\/\/www.elitestage.cn\/fr\/7-reasons-why-hong-kong-is-no-1-for-international-trade-in-asia\/","title":{"rendered":"7 Reasons Why Hong Kong is No.1 for International Trade in Asia"},"content":{"rendered":"
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\"\"Hong Kong<\/strong><\/section>\n<\/section>\n<\/section>\n
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In recent years, Hong Kong has had some serious competition as Asia’s premier gateway for international business. Singapore and Seoul have long been contenders, but people are also beginning to take notice of other cities, such as Kuala Lumpur, Bangkok and Jakarta.<\/section>\n
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Still, it’s a tough task to replace Hong Kong’s major position. Consider that:In 2019, the World Economic Forum (WEF) rated Hong Kong as having the world’s top financial system, well ahead of its nearest competitor, the U.S., in the Global Competitiveness Report.Strict\u00a0pandemic management means that Hong Kong has experienced very low Covid infection rates, avoided lockdowns and remained largely open for business over the last ten months. Few other large cities can say the same, whether in Asia or globally.<\/p>\n

Company incorporation numbers in Hong Kong quickly jumped back after 2020’s Covid-related uncertainty, resulting in\u00a0110,000 new Hong Kong companies<\/strong>\u00a0in 2021.<\/p>\n

Here are seven reasons why, in my view, Hong Kong is still a top spot for international commerce in 2022:<\/p>\n

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Ease of company incorporation<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n

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Setting up an offshore company in Hong Kong can usually be done\u00a0within seven days<\/strong>\u00a0\u2014 not weeks or months. As well as time saved, the application and documentation requirements are straightforward, with no restrictions on overseas directors or shareholders: It is not even a requirement to be physically present to open a company in Hong Kong.Not only does it save time and effort, incorporation in Hong Kong is a cost-effective option \u2014 there are\u00a0no minimum-share capital requirements, with many companies being opened\u00a0with $1 share capital<\/strong>. <\/p>\n<\/section>\n
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Low taxes<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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Corporate income tax\u00a0in Hong Kong is\u00a016.5 percent<\/strong>. Hong Kong has always had low corporate and personal income tax rates. However, with a new global 15 percent minimum corporate tax rate set to come into force, Hong Kong will now have one of the lowest corporate income tax rates in the world.Personal income taxes\u00a0are low as well \u2014 from\u00a0two to 17 percent<\/strong>. This makes Hong Kong an attractive location for expat employees of international businesses, who take home a much larger proportion of their pay packet compared to elsewhere.Hong Kong does not apply indirect taxes, such as a value-added tax (VAT) or goods and services tax (GST).<\/p>\n<\/section>\n
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Business privacy\u00a0<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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A director of a Hong Kong company does not need to be a natural (i.e., a real) person: Hong Kong\u00a0allows for foreign companies themselves to be directors of a Hong Kong company.\u00a0This allows international businesses and entrepreneurs to direct and control their Hong Kong company without needing to be personally identified in any public records. A nominee director can be appointed to act on the foreign company’s \u00a0behalf, and can\u00a0keep all personal information confidential<\/strong>.Note that Hong Kong companies will still need to provide information to the regulatory authorities about any individuals who are significant controllers of Hong Kong companies, but this is not on the public record. <\/p>\n<\/section>\n
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Hong Kong means free trade<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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Hong Kong is a free port, meaning it does not apply any import or export duties.As well as reducing the direct costs of doing business, this cuts down significantly on associated form-filling and business red-tape. <\/p>\n<\/section>\n
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Lack of currency restrictions<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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In our connected world, working in multiple currencies is\u00a0all-but-inevitable for ambitious businesses<\/strong>. Hong Kong has no foreign exchange controls, making it possible to make and receive payments worldwide without government restriction.Hong Kong also makes it straightforward to use foreign currencies in a range of official contexts. For example, company share capital can be paid in any major currency, not just the Hong Kong Dollar.\"\"<\/p>\n<\/section>\n
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A world banking and payments hub<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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As a center of international finance and investment,\u00a0Hong Kong has no shortage of payment services<\/strong>and solutions to best manage your money: It’s a breeze to set up and access multi-currency business accounts, saving significant amounts on currency conversion when dealing in multiple currencies.Many companies that operate primarily in cities like Shanghai, Shenzhen or Guangzhou also have a presence in Hong Kong, making transactions even easier. <\/p>\n<\/section>\n
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World-class business reputation<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
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Hong Kong is one of the world’s few\u00a0global cities<\/strong>, standing alongside the likes of New York, London and Paris. With a centuries-old reputation as a business hub, international businesses trust companies incorporated in Hong Kong as their partners and clients.While their prospects are improving, the same cannot be said for companies based in other parts of Asia such as Indonesia, the Philippines or Thailand. For this reason, many businesses from elsewhere in Asia choose to incorporate a subsidiary in Hong Kong to carry out their international business.\"\"<\/p>\n<\/section>\n
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Conclusion\u00a0<\/strong><\/section>\n<\/section>\n<\/section>\n
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With an established reputation as an international business hub, few barriers to trade and low tax and compliance costs, Hong Kong is likely to continue to be Asia’s number one international business hub. Its\u00a0unique geographical location, bridging the gap between east and west,\u00a0means that if you want to expand your business, Hong Kong remains the go-to option.<\/section>\n<\/section>\n<\/section>","protected":false},"excerpt":{"rendered":"

Hong Kong In recent years, Hong Kong has had some serious competition as Asia’s premier gateway for international business. Singapore and Seoul have long been contenders, but people are also beginning to take notice of...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-5645","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\n7 Reasons Why Hong Kong is No.1 for International Trade in Asia - elitestage.cn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.elitestage.cn\/fr\/7-reasons-why-hong-kong-is-no-1-for-international-trade-in-asia\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7 Reasons Why Hong Kong is No.1 for International Trade in Asia - elitestage.cn\" \/>\n<meta property=\"og:description\" content=\"Hong Kong In recent years, Hong Kong has had some serious competition as Asia’s premier gateway for international business. 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