Hong Kong is one of the Special Administrative Regions of China. Prior to handover of Hong Kong to China, Hong Kong was a colony of the British Empire for over 100 years until 1st July 1997. Under the principle of “one country, two systems”, Hong Kong has a different political system from China and has independent judiciary systems which have a high degree of autonomy.
As one of the world’s leading International Financial Centers, Hong Kong has a major capitalist service economy characterized by low tax rates, simple taxation system, free trade, free market, no capital gain tax, no value added tax, tax free opportunities for company registrationconducting business outside of Hong Kong, no exchange controls and a very efficient banking system. In such business environment, many foreigners and renowned international companies would choose Hong Kong as their regional office to enjoy tax benefits and excellent bank services. Without exchange or capital control, funds are freely allowed in and out of the territory very efficiently.
Given the close geographical proximity to the vast and rapidly growing China market, opportunities for Hong Kong as one of the world’s major trading and financial centres, Registration for a Hong Kong based company can enjoy the many advantages.