Every entrepreneur out there looks forward to growing his business to a multinational. When reports of multi-billion profits posted by multinationals are posted on their sites, investors can only imagine their enterprises hitting such levels. However, this should not simply exist in your dreams; it can be realized. The first step is ensuring you take the business to the right jurisdiction.
One of the most outstanding jurisdictions in the globe today is Hong Kong. The country’s history of success started during the colonial times. Before getting its independence in 1997, Hong Kong had undergone a huge transformation. It adopted a unique form of independence that has helped it to become the current highly revered business destination. In this post, we look at four most important benefits you will get by incorporating the business in Hong Kong.
Hong Kong administration is very supportive of new enterprises
Hong Kong has been working extra hard to ensure that all businesses getting there are very successful. It motivates new investors through tax incentives and direct financial support to guarantee them of faster growth and success. The administration looks for every opportunity to give its economy a competitive advantage over others.
The process of incorporating a company is very easy
To take your enterprise to Hong Kong, the first step is registering a company. Hong Kong has made it easy for companies to register and start operating. While you can prepare and present all the documents to the companies’ registry for registration, you can also use an agency.
Agencies are registered firms that are allowed to assist offshore investors to register their businesses. This means that you can relax back at home or continue sourcing funds as the company registration services firm works on professional documents. To make your work even easier, the agencies can even serve as the company secretary and physical office.
Hong Kong acts as the main gateway to the mainland China
One of the main objectives of taking a business to Hong Kong is taking advantage of the big Chinese market. Because going directly into the Chinese market is very difficult, the better idea is using Hong Kong because it services as a free port. Then, you can focus on reaching hinterland China either directly or partnering with established companies.
Hong Kong has entered into very many DTAs
If you want to grow rapidly into the Asian and global markets, Hong Kong is a great launching pad. The administration has tirelessly worked on entering into DTAs and bilateral arrangements to assist its enterprises to grow faster. This means that you will have access to larger markets, increase sales, and grow the business faster. Some of the countries that the country has entered into double tax arrangements include Japan, the UK, Malaysia, South Korea, Saudi Arabia, and Australia.
Whether your enterprise is new or has been in operation, you can only catapult to success by entering a high potential jurisdiction. Hong Kong has won praise all over the globe because of its unique business economy that nurtures businesses until they become successful. With Hong Kong, you can never go wrong.