Investors who are willing to open a company in Europe can look beyond the EU. Asia is a market that has a slightly different pace and has seen an impressive development. Cities like Hong Kong have become global business centers.
Compared to the United Kingdom, the process of company formation in Hong Kong is straightforward and now investors have an important advantage: the Special Administrative Region remains one of the top business hubs in the Asia-Pacific region while the UK has taken its first steps for leaving the European Union.
Investors who choose to open a Hong Kong company
have access to an international, bilingual business environment and one that has been historically shaped and influenced by its British occupancy.
Company formation in the United Kingdom
Company registration in the United Kingdom is available online or by post by submitting the necessary form. Investors can also appoint an agent or use a third-party software. Like in Hong Kong, entrepreneurs have a wide range of options when choosing the type of company they can incorporate and foreign corporations can open a UK branch.
An important difference between the corporate regimes in the two jurisdictions is the corporate income tax: this tax is higher in the United Kingdom compared to that in Hong Kong: 20% versus 16.5% or 15% for unincorporated businesses.
Company formation in Hong Kong
Company registration in Hong Kong
is straightforward and accessible to all types of investors: those who incorporate large corporations and those who are just taking their first steps by opening a start-up.
Hong Kong has a low taxation regime
: the corporate income tax has a fixed value and a lower one for unincorporated businesses. There are no withholding taxes on dividend distributed by a Hong Kong entity and there are no withholding taxes on interest. No payroll taxes and no capital duty apply in Hong Kong. Double taxation relief is possible in Hong Kong through the treaties signed with other countries.
All companies in Hong Kong must be registered with the Companies Registry but there is no mandatory minimum share capital for limited liability companies, partnerships or sole proprietorships.
If you are interested in how to open a Hong Kong company and need further details, one of our consultants can help you.
You can contact our Hong Kong company formation
experts for more information about company incorporation and corporate compliance in this jurisdiction.