Is This the Right Time to Open a Company in Hong Kong?

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For about 20 years, Hong Kong has stood out as a revered business hub. According to the Heritage Foundation, the jurisdiction has the freest economy in the globe. This is only one of the reasons why investors have been flocking to Hong Kong, but you need first to make the big decision, “Is this the best time to open an offshore company?”

Keep reading to learn more about this highly revered jurisdiction and indicators that it is time to go offshore. We will also highlight the best way to form an offshore company in Hong Kong.

Why Hong Kong? 

The most notable reason for more companies going to Hong Kong is because of its strategic location. Tucked in the heart of South East Asia, Hong Kong provides companies with a vantage point to reach the entire Asia-Pacific. Let’s mention one example. In 2017, Hong Kong signed a Free Trade and Investment Agreement with ten nations in ASEAN (Association of Southeast Asians Nations), which opens doors for your company to reach a bigger market share:

Here is a summary of other benefits that you should anticipate for forming a company in Hong Kong.

  • Hong Kong has a very supportive administration that stops at nothing to ensure that every company becomes successful.
  • State-of-the-art infrastructure. From the airports to internet connectivity, Hong Kong has the best infrastructure for your company. For example, Hong Kong’s airport is one of the busiest in the globe.
  • Hong Kong rocks a low and straightforward tax regime. This design is aimed at helping companies retain the bulk of their profits for growth. Why go to a jurisdiction that will charge you more when Hong Kong has lower rates?

These are only a few of the benefits that you should anticipate for forming a company in Hong Kong. Others include a stable socio-economic system, access to an educated workforce, and dozens of incentives.

What is the Best Time to Open a Company in Hong Kong?

We must say that there is no one-fits-all time for all companies when it comes to forming a company in Hong Kong. The best way to determine if this is the right moment to go offshore is to check for one or several signs we have listed below:

  • When your company’s revenue and profits start going down.
  • The business environment back home is oppressive. For example, does the government back home have punitive laws?
  • Your company has been performing very well back home. This is an indication that you need a new challenge to grow an enterprise into an international brand.
  • New opportunities that you can take advantage of, such as supplying raw materials to manufacturers or exporting products from China to the rest of the globe.
  • The planned business scaling time has come. This means you planned to grow the brand abroad, perhaps as a long-term strategy to increase its presence in South East Asia.

Form Your Company with the Help of an Agency of Experts

As a business and financial hub, Hong Kong is an excellent jurisdiction that you can count on for rapid growth, but registering a company there is never easy. Most foreigners find it challenging to form companies in Hong Kong because of the long list of documents that are required. Also, you need to get a resident company secretary, a registered address and prepare the Significant Controllers Register (SGR).

The best way to get it right with company registration in Hong Kong is using an agency of experts. These are firms that specialize in executive functions of companies in Hong Kong. The agency you select will help you to prepare the documents professionally and incorporate your company fast. Now, to the best part: you will not need to book a flight to Hong Kong because the agency will do everything on your behalf.

One of the best firms you should consider using for company formation in Hong Kong is ICD Fiduciaries. In addition to helping with company incorporation in Hong Kong, the agency will come in handy to help with market carrying out due diligence, bank account opening, tax matters, and wealth management. Do not just pick any agency when it comes to company incorporation; visit ICD now for the best services and company success.

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