Statistics - Why Opening Your Business in Hong Kong Might Be Good!

Firstly, why Hong Kong?

The place is your entry to the wave of growth that Asia is experiencing. Asia is the most dynamic continent right now, and Hong Kong the place most respected and recognized as a brand name not only in Asia itself, but in western countries too. This is quite an asset and one of the major factors in favour of company registration there.

Statistics speak!

The taxation system of the place is its biggest asset. It's one of a kind and different from other countries. There was nearly HK $300 Billion worth of re-exports in July 2013. In 2012, Hong Kong was ranked the 9th leading world trader by accounting for nearly 2.8% of the total world trade. It comes before nations like Canada, Italy and Belgium!

What's great here?

Last year, Hong Kong was the 10th leading exporter in the world, by accounting for nearly 2.7% of the total world exports! It might be remembered that even the United Kingdon was behind at 11th position, with around 2.6% of world's total exports. What has helped this place achieve such heights? Well, a tax system is a vital ingredient in recognizing which place to register your company in, because taxation has a direct relation to the profits or turnover of the company. Places where the tax procedure is uncomplicated and places that levy less tax are favourably looked on as, and Hong Kong tops the list.

Here are some reasons that make place special!

1. You only have to declare taxes once a year when you open a company here.
2. A simplified tax system exists which only levies profit tax at the rate of16.5% without value added tax or business tax.
3. For transactions outside of Hong Kong, corporate tax rate is 0%. This allows for savings on sales tax and corporate tax at the very least.
4. More expenses can be written off against a Hong Kong corporation. The United States, for example, does not allow you to write off a glass of wine for your client or your commutation expenses as a business expense. However in the Hong Kong there is no such prohibition.
5. The place follows a single-tier taxation system and therefore tax rate on capital gains, on shareholder dividends and on foreign sourced income is 0%.
6. There are no foreign exchange controls here - thus allowing for free circulation of funds, easy exchange and transfer of foreign currency and convenient and quick handling of credit operations.

No doubt, the place is the best place for company registration. Not only is it strategically located but it has one of the cheapest tax systems in the world. So make a wise and informed decision today by registering your company there and see the difference.

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/