Honk Kong: The Best Place For Your Business

One of the most-quoted business norms is 'location independent isn't location arbitrary.' This essentially means that for a business, location is very important. One of the basic business decisions to be made is company formation. In this era of globalization, you know the pros of various areas in the world. However, the best out of these areas for company formation is Hong Kong. Why? Here's why:

1. Forbes ranks the city as the freest trade area globally - not only for this year, but for the past consecutive ten years.
2. Hong Kong is a world-recognized leader in business and banking. Not so excited about the balance sheet of your American bank? It is the perfect place for you. Not only is their economy safe and sound, but you can also trade in multiple currencies. If a client pays you in euros, for example, your bank will keep it in euros as long as you don't give them directions to the contrary. You can also sign up for merchant banking with ease. Your PayPal account is activated in just a couple of days after you contact the HSBC head office. These efficient services go a long way in making the process of company formation and incorporation easier.
3. Corporate tax in the place is zero percent for transactions outside of this place. This means you save on the sales tax and corporate tax at the very least.
4. You can write off various expenses against a Hong Kong corporation. In America, for example, the IRS doesn't allow you to write off various expenses like your commuting expenses as business expenses. In this city, however, this is not true.
5. Hong Kong is the topmost trusted Asian brand. This reputation plays a key role not only in attracting clients, but also international credit.
6. Hong Kong's taxation system is one of the simplest in the world. You only need to pay taxes once a year, and there is just a business tax at 16.5 percent, without VAT and business tax.

So now you know that the place has a stable economy, one of the best taxation systems, a convenient banking system, is the best in free trade and allows you to save on other taxes and write off expenses. In short, this is the place to form a company.

So how do you do it? Again, a very simple procedure of company incorporation exists in Hong Kong. You should have at least one shareholder and director, both above the age of 18. There should be one registered address in the city and one permanent resident or authorized Hong Kong company taking up the position of legal secretary of the company. That is all, and you are ready for company incorporation.

Do you want to register your company in Hong Kong? Visit http://www.conpak.com/HongKong-Company-registration.html for more details. You can even visit http://www.conpak.com/