Hong Kong is a global business center and a leading telecommunications market in the Asia region. This characteristic has greatly influenced the city’s success and development and today the telecommunications sector is very well developed with companies providing for a large number of services.
Investors who want to open a Hong Kong company that will operate in the field of telecommunications have no restrictions for investments, with foreign entrepreneurs having the same rights as nationals. The sector is regulated regarding the types of services, quality, and price practiced by the companies in this field.
Our experts invite you to watch a short video about the telecommunications industry in Hong Kong:
The Hong Kong telecommunications industry
The telecommunications industry in Hong Kong is very well developed and has an advanced infrastructure. A number of international companies have opened branches in Hong Kong in order to set up their regional operations point in the area.
The Communications Authority in Hong Kong is an independent, regulatory body that operates under the Communications Authority Ordinance and controls the broadcasting and telecommunications sector in the city. The Communications Authority Ordinance, the Telecommunications Ordinance, the Broadcasting Ordinance and other legislative documents provide the guideline and regulations for the industry.
Services offered by telecommunications companies in Hong Kong
Companies in Hong Kong can provide services in all of the telecommunication market’s sectors:
– local fixed carrier services;
– mobile services;
– fixed broadband services;
– external telecommunications services.
In some sectors, the competition is more developed than in others. Companies operating in various telecommunication fields need to obtain special permits and licenses.
Investors who are interested in setting up a company in Hong Kong in the telecommunications company industry need to set-up a new company, according to the current provisions, and register it with the Companies Registry.
The telecommunications industry is also an important employer in Hong Kong. Companies that want to hire personnel need to observe the provisions of the Employment Law.
Working with a CPA in Hong Kong is advisable for any type of business, including one that operates in the telecommunications sector. Our team provides complete bookkeeping services, along with assistance for completing the annual financial statements, as well as assistance for handling social security contributions, among others. You can reach out to us for details about our services.
You can contact our company registration experts in Hong Kong for more information about investing in the city and the legislation for investments in various business fields.