Singapore has one of the lowest corporate tax rates in the world, excluding capital gains tax, and is ranked number one in the World Banks Ease of Doing Business Index each year.Thanks to its simple tax system and low wages for companies and individuals, Hong Kong has become a popular financial center, occupying a prominent position in Central Asia. They develop talent skills that are ready to be developed for the economy.

 the differences between the integration systems of Singapore and Hong Kong and highlights tax issues and legal requirements. 

Differences between Singapore and Hong Kong Incorporation Requirements
值得注意的是,新加坡、香港在世界银行(World Bank)的营商环境排名中都占据了前两名,都以稳定的银行和法律体系以及不征收增值税而闻名。它们将自己定位为在亚洲子公司与母公司之间增加一层距离的首选目的地。这两个司法管辖区的税法相对灵活,股息一般不征税。

 stable banking and legal systems and no value-added tax. They have positioned themselves as the go-to destination for providing an additional layer of distance between an Asian subsidiary and the parent company.The two jurisdictions have relatively flexible tax laws, with dividends generally not taxed.

We compare the incorporation requirements of the two jurisdictions below:


银行业在新加坡和香港的经济中都扮演着重要的角色。这两个国家都拥有一个全面监管和健全的金融体系,世界上大多数最强大的银行都存在。总的来说,这两个司法管辖区的银行设施和服务已发展完善,可在全球范围内使用多种货币和网上银行服务。 annual filling requirements so that it can keep maintaining its good legal standing and avoid legal problems. In case a company cannot fulfill the requirements before specific deadlines, it will have to face a penalty or even a forced strike-off. There are 3 main points which are needed to be done in order to keep up with deadlines:Holding annual general meeting.Filling of annual returns.



就劳动力的素质而言,香港的雇员通常接受英语教育,但他们在日常生活中更习惯说他们的主要语言——广东话或普通话。因此,如果你想把市场集中在邻近的国家,如台湾和中国,香港劳工是一个理想的选择。 two government authorities responsible for the formulation and deception of most of the statutory requirements governing local companies: Accounting and Corporate Regulatory Authority (ACRA) – national companies registries where to file annual return, and Inland Revenue Authority of Singapore (IRAS) –  national tax authority where to file ECI and annual tax return.

在新加坡,当地和外国大学都有大量受过高等教育和训练有素的雇员。除了英语,新加坡人还可以使用其他三种语言,即华语、马来语和泰米尔语进行公平的交流。更不用说大多数人都能流利地说两种语言。新加坡以构建精确的知识和各种平台的国际中心而闻名,吸引了世界上最优秀的人才流入它的行业。CR) and the Inland Revenue Department (IRD).

在移民方面,香港和新加坡都提供开放的移民政策,提供适当的工作签证条款,为希望在这些司法管辖区开办企业的外国人。 territorial taxation with remittance, Hong Kongs jurisdiction is purely territorial

虽然新加坡最近略微收紧了移民政策,但它仍继续鼓励高技能和创新的外国投资者和愿意在新加坡境内建立企业或工作的雇员移民。每一个符合上述资格的人都可以根据他们各自的标准开始设立公司或根据不同类型的工作通行证受雇,例如EntrePass (Entrepreneur pass -一个单词pass允许企业家在新加坡开办和经营新业务)或Employment pass。可点击下面图片详细了解哦。

Labor force
According to 2019 GCR (Global Competitiveness Report), Singapore was ranked first and Hong Kong was in seventh place in terms of labor market efficiency.In connection with the quality of the workforce, Hong Kongs employees are normally English-educated although they are more comfortable with speaking their main language – Cantonese or Mandarin – in daily life. Thus, Hong Kong workforce is an ideal choice if you are trying to focus your market to nearby countries such as Taiwan and China.In Singapore, there is a significant number of highly educated and well–trained employees from both local universities and foreign ones. Not only English, but singaporean can also communicate fairly in 3 other languages which are Chinese, Malay, and Tamil. Not to mention the fact that most of its people are bilingual fluently. Being well-known for building everything from precise knowledge, as well as being an international hub with various platforms, Singapore attracts the flow of the worlds best talents into its industry.

Immigration policy
总之,香港和新加坡都证明了自己是创业的潜在目的地。但是通过很多突出的地方,可以看出新加坡更多的受到了全世界企业和企业家的关注。新加坡在许多经济方面已成为香港最直接的竞争对手,并将很快成为亚太地区更受欢迎的国际商务目的地。 open immigration policy with appropriate work visa provisions for foreigners who wish to set up their business in these jurisdictions.Although Singapore has slightly tightened its overall immigration recently, it still continues to encourage the immigration of high–skilled and innovative foreign investors and employees who are willing to establish their businesses or work inside its territory.

Each of them who meet the qualification above can start setting up company or be employed under different types of work pass subject to their respective criteria such as EntrePass (Entrepreneur Pass – a word pass permits entrepreneurs who want to start and operate a new business in Singapore) or Employment Pass.

Turning to Hong Kong, nationals of about 170 countries and territories are allowed visa-free visits to this destination for periods ranging from 7 to 180 days. Short-term visitors are allowed to enter Hong Kong on a visitor visa to conduct their business negotiations and sign contracts.

Besides, the government has also introduced appropriate work visa provisions, to cater to the needs of entrepreneurs who may wish to relocate to Hong Kong to run their business or who may want to hire foreign professional employees to work in their company, or those who would like to move to the country for lawful employment purpose.

Wise investors or entrepreneurs will always spend their time evaluating the cost of living before going to final decisions in the incorporating process. ECA Internationals rank in 2019 shows that Hong Kong is ranked as the most expensive city in Asia and fourth in the world. Thus, expatriates have recently preferred Singapore as their destination over Hong Kong.

If you are looking for housing in these jurisdictions, the rental for an apartment in Hong Kong is more expensive than in Singapore, about 47% higher, according to CBREs fifth annual Global Living Report released in April 2019. In regard to education cost, it can be found that tuition fees for children at international schools are lower in Singapore. On the other hand, Hong Kong has been announced to have increased the fee. For those who are seeking domestic help, the costs that related to food and health care are slightly cheaper in Singapore.

To sum up, Hong Kong and Singapore all proved themselves potential destinations for setting up new businesses. However, through many outstanding points, it can be seen that Singapore has captured more attention from companies and entrepreneurs all over the world. It has become Hong Kongs most immediate competitor in many economic angles and will soon turn into the more preferred international business destination in Asia Pacific.With over 10 years of experience, Elite Stag has always been focusing on providing companies with professional one-stop offshore corporate services, covering domestic and foreign company structure consulting, cross-border accounting and tax planning, special permits application, HR outsourcing and Visa services as well as preferential benefits application, etc.


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