Firstly, why Hong Kong?
The place is your entry to the wave of progress that Asia is experiencing. Asia is probably the most dynamic continent proper now, and Hong Kong the place most revered and acknowledged as a model title not solely in Asia itself, however in western international locations too. This is kind of an asset and one of many main components in favour of firm registration there.
Statistics communicate!
The taxation system of the place is its largest asset. It’s one in all a form and completely different from different international locations. There was almost HK$300 billion value of re-exports in July 2013. In 2012, Hong Kong was ranked the ninth main world dealer by accounting for almost 2.8% of the entire world commerce. It comes earlier than nations like Canada, Italy and Belgium!
What’s nice right here?
Last 12 months, Hong Kong was the tenth main exporter in the world, by accounting for almost 2.7% of the entire world exports! It is likely to be remembered that even the United Kingdom was behind at eleventh place, with round 2.6% of world’s complete exports. What has helped this place obtain such heights? Well, a tax system is an important ingredient in recognizing which place to register your organization in, as a result of taxation has a direct relation to the income or turnover of the corporate. Places the place the tax process is uncomplicated and locations that levy much less tax are favourably appeared on as, and Hong Kong tops the listing.
Here are some causes that make place particular!
- You solely must declare taxes yearly once you open an organization right here.
- A simplified tax system exists which solely levies revenue tax on the fee of16.5% with out worth added tax or enterprise tax.
- For transactions outdoors of Hong Kong, company tax fee is 0%. This permits for financial savings on gross sales tax and company tax on the very least.
- More bills could be written off in opposition to a Hong Kong company. The United States, for instance, doesn’t let you write off a glass of wine on your consumer or your commutation bills as a enterprise expense. However in the Hong Kong there is no such thing as a such prohibition.
- The place follows a single-tier taxation system and due to this fact tax fee on capital positive factors, on shareholder dividends and on overseas sourced revenue is 0%.
- There aren’t any overseas trade controls right here – thus permitting free of charge circulation of funds, simple trade and switch of overseas forex and handy and fast dealing with of credit score operations.
No doubt, the place is one of the best place for firm registration. Not solely is it strategically situated nevertheless it has one of many most cost-effective tax programs in the world. So make a smart and knowledgeable choice immediately by registering your organization there and see the distinction.