Commercial laundries are very popular in Hong Kong and, in a sense, they were necessary because of the limited space in some of the apartments in the city. These types of establishments provide low-cost and convenient solutions for families and businesses who need cleaning options on a regular basis.
Starting a laundry business in Hong Kong can be convenient for many investors and it can be a good option for those who are looking for an investment idea.
A laundry needs to be established in a suitable location and company registration in Hong Kong is the same as for any other type of business.
Setting up a company in Hong Kong is easier with the assistance provided by a local team of specialists. Local and foreign investors alike can rely on our solutions and packaged tailored to meet the needs of those looking to open small, medium-sized, or even large companies. If you wish to know more about a specific type of business or industry, do not hesitate to reach out to us.
We invite you to watch a short video about the needed steps for opening a laundry business in Hong Kong:
Starting a laundry business in Hong Kong
Investors who want to enter the laundry business have several options: they may provide 24-hour coin-operated laundry machines for their clients to use as they please or they can provide professional cleaning services.
Laundries and/or Laundromats in Hong Kong can be situated throughout the city in locations that offer enough space to base the washing machines and dryers. The initial investment will include the costs for company formation in Hong Kong and those for the equipment needed to provide the actual laundry services. Investors can open a laundry on their own, as a sole owner or they can form a partnership with another investor. When they decide to open a company in Hong Kong investors may choose between several business forms.
Requirements for companies in Hong Kong
Entrepreneurs who are interested in Hong Kong company formation need to comply with the few basic steps for company incorporation:
- – choosing a suitable company name and opening a bank account;
- – registering the company with the Companies Registry;
- – buying or renting a location for their business;
- – hiring employees.
All profits derived from a Hong Kong source, like those produced by a laundry business, are subject to the corporate income tax.
If you would like to know more about the accounting principles and the requirements for preparing and filing annual financial statements, as well as the conditions for auditing these statements, you can discuss the current requirements with our accountants in Hong Kong. We provide solutions for companies in all business fields, irrespective of size. You can reach out to us for details about our accounting services.
Investors may also open a laundry franchise or a dry cleaning franchise in Hong Kong. Those investors who have the necessary capital for starting a business and wish to use an already existing business plan can explore this investment opportunity.
You can contact our company formation experts in Hong Kong if you need more information about the requirements for investments.