Setting up your Information and Communications Technology Firm in Hong Kong

Hong Kong is Asia’s leading hub in the areas of logistics, financial services and transportation. Several organizations from the Information and Communications Technology (ICT) industry has chosen Hong Kong to be their operational hub in order to cater to several Asian markets and clients.

Apart from providing access to Asia’s leading ICT markets, Hong Kong itself is a rich market for ICT companies. There are around 3,800 regional headquarters and registered offices of ICT companies in and around the city. Moreover, thousand more businesses are located throughout the entire Greater Pearl River Delta (GPRD) region, making Hong Kong a ready market for all ICT organizations. As Hong Kong is located in the centre of the continent, its location is an advantage for organizations that are looking to manage a centralized hub with access to all leading markets of Asia. Additionally, the abundance of skilled professionals is a major boost to the ICT industries operating out of Hong Kong.

The world-class infrastructure of Hong Kong pitches it as the perfect hub for organizations with an international outlook. The state of the art telecommunication infrastructure makes it an exceptional site for a data centre. In fact,the Penetration of High Speed Optical Technologies Index ranked Hong Kong as the second best in 2011. There are eight submarine and 17 overland cable systems along with eight satellites for external communications. The connection infrastucture would be ramped up with more systems to be installed in 2012 and 2013. The new projects include the Asia Submarine-Cable Express and Southeast Asia Japan Cable. The world-class connection is heavily boosted by the reliable electric supply, which currently provides an excellent guaranteed uptime of 99.99 per cent. Moreover, the strategic central location of Hong Kong also keeps it away from any major natural distaster.

The sophisticated communications system and the high-tech infrastructure, coupled with high-quality workforce and a reliable power system makes Hong Kong an ideal destination for data storage and security. Hong Kong is currently the region’s hub for several logistics, finance and professional services firms – all of which rely on secure and private data storage facilities to operate smoothly. With the help of its robust environment for data protection and privacy, Hong Kong is now being preferred by several organizations for their data centre activities. A lot of these organizations are outsourcing their date storage and management operations to data centre firms operating in Hong Kong.

Hong Kong Company Development Puts Your company within the Gateway

There are plenty causes to go after the Hong Kong Business development, however there are 2 that leading the record. Very first is the fact the economy rates among the freest on earth. Second of all, Hong Kong is a entrance in order to China. Along with China lately becoming the planet’s second biggest economy, being the entrance region is an essential function. Businesses finding within Hong Kong usually are poised with regard to main growth.

The united states Heritage Foundation prepares the index which measure financial independence. Within its 2006 Catalog of Economic Independence, Hong Kong lead the record. Economic independence is concerned along with how very easily businesses can type and particularly how international businesses are handled. Any international investor developing a company within Hong Kong will probably be very happy to discover that international businesses are handled the same method as household companies. Foreign opportunities are urged through the financial policies designed to market development.

Among the attractive top features of Hong Kong is a banking program. Often times foreign traders have severe concerns regarding the security of their cash if it is invested in company capital inside a foreign nation. So how exactly does an enterprise have guarantee that cash is guarded along with banking procedures are safe? One method to tell is through reviewing your governmental financial needs. Within Hong Kong, a company need to prove it’s “real” just before it is permitted to open the banking account. There’s careful report on detailed paperwork to determine whether a business is really a genuine operation as well as whether it is cash laundering or even involved in unlawful actions. Throughout a Hong Kong company development, genuine businesses will not have difficulties opening a merchant account but they will certainly understand they’re protected through laws.

Starting the Hong Kong bank account needs lots of very particular business paperwork. To begin with you have to prove you’re a true company and clarify the type of company that will be run. Additionally, you need to submit titles of your providers, financial claims, names regarding executives along with supervisors, and even more. The applying need to be very carefully completed with precision, along with a professional may and should aid in order to assist the process together. Along with proper conclusion and distribution, you may expect that an accounts number will be designated inside a month.

For ease, you can entry the Hong Kong bank-account on the net. This really is an essential feature if you wish to have the ability to access money from several places. The minimal deposit for you to open the bank account is US$2, 000.

Visas for investment in Hong Kong – One-Man Companies May Receive Authorization

We’ve recently had a few interesting investment visa Hong Kong ‘wins’ that travel facing the generally parlayed mantra which ‘one man companies never obtain approved’ through the HK Immigration Department.

Below are a few can’t be thought to apply in most single example of a one-man simply investment visa program with regard to Hong Kong, however it does talk to the reality which such companies CAN in fact obtain an authorization through the HKID – only if you’ve:

· A persuasive rationale for beginning as a single owner.

· Readily obtainable money to invest at a stage that is fairly greater than the smallest amount 6 months income.

· A powerful in your company plan that’s compelling or else offers appealing or rare ‘human capital’ for the HKSAR.

· A manifestly clear intention to produce local work ultimately, if not instantly.

· Your ducks or else fully arranged!

Using the facts slightly modified to safeguard the secrecy of our customers, listed below are the essential situations of two, individual ‘one man businesses’ that went on to safe the authorization of the HKID below our counsel along with us controlling the programs.
The first required an interior style services expert who had a couple of years prior home in Hong Kong being an employee however was altering careers totally in joining within his start up business. His company was ‘him’, for those intents and reasons however he did possess some ‘family IP’ that he was getting to the company, which usually his father had used in a comparable family business in the UK with regard to over 30 many years. Although his father experienced retired a few years formerly, he was hired to the board in our customer’s one guy limited responsibility company along with was manifestly likely to help out their son away with lawyer and guidance. Throw within 12 months really worth of money ready to commit, the assistance of particular HK contacts that indicated they’d provide company for this, at first, one guy operation along with a plan that clearly shown that if the development trajectory was accomplished, new work would be produced as sure because night comes after day time, the HKID purchased into the debate and authorized the applying with no a lot more fuss compared to can be expected where you will find much larger size investment ideas regarding Hong Kong.

Developing Your Desire Company within Hong Kong

The actual increasing competition within the service field and the dangers of joblessness have motivated people to setup their own projects. Even though forming a business demands a lot more effort compared to finding a work, it has lots of benefits more than being employed. First of all, company development gives you the freedom to operate it how you such as, and you will apply ideas you have already been enthusiastic regarding. Even so, to be able to add a business, there are many financial, social along with environment factors that certain needs to think about.

To find success together with your company, an effective environment is actually essential. The regulating bodies from the company’s area will be able to give you great tax guidelines, top quality labor along with a simplified lawful system which facilitates fast as well as hassle-free business incorporation. According to the worldwide trend, Hong Kong provides emerged to get probably the most preferred destinations with regard to opportunities.

The affordable and admin atmosphere inside Hong Kong is very conductive with regard to setting up a fresh business. The actual state-of-the-art national infrastructure and the extremely modernized conversation facilities may be very easily leveraged to avoid the first hiccups that certain face whilst working inside a struggling overall economy. There are numerous work at home opportunities that certain can discover within Hong Kong, and something can begin a company inside 24 business hrs.
Along with among the best legal and also admin systems on the planet, Hong Kong features a higher reputation amongst financers globally, and so, it is simpler to obtain preliminary finance for the business. Additionally, along with Hong Kong using a friendly foreign currency plan, various currencies can be moved as per the comfort – the industry large bonus for worldwide investors prepared to setup company within Hong Kong. The taxes system is helpful to the traders, because the profit taxes levied about the revenue is really a flat 16. 5% along with has to be declared simply one per year.

The organizational framework is quite simple – an individual, willing to purchase a endeavor, can begin a company along with him or her becoming the overseer. Even so, it is needed to have one or more local citizen or business incorporation inside your organization underneath the part of lawful assistant. Furthermore, you have to provide a nearby address to become used because the registered conversation tackle for the business.

Hong Kong As An Effective And Efficient Part of Economies

Hong Kong is the most popular city of Asia for worldwide enterprise. Its stable appeal is built on political stability, the direct of law, free market values, effective communication of collected information, and English as its medium

Enterprises in Hong Kong are able to get benefited from:

  1. World’s best and fast growing economies.
  2. Unaligned judiciary and the rule of regulation.
  3. Free interpretation of data collected.

The 2012 Globalization Index, issued by Ernst & Young along with the EIU (Economist Intelligence Unit), declares that Hong Kong is among the world’s 60 best economies for the consecutive third year.

Two systems in one country

Hong Kong is a city that has been influenced by Chinese dominion since 1997 but has a distinguished legal and political system founded on principles that give an idea of ‘One Country, 2 Systems’. This helps in maintaining primary authority that underpins its achievements as the international enterprise city. Although enhancing opportunities in Mainland China to apply and get unrivalled access.

  1. Playing area for all – no foreign ownership limitations.
  2. Maintain rules and clean government with the support of independent judiciary.
  3. Effective utilization of information, capital, goods and talent.
  4. Convertibility of RMB (Renminbi) to Hong Kong dollar is separated.
  5. Self directed legislative and supervisory powers.
  6. Remains individual in worldwide forums like the World Trade Organization.
  7. Authorized languages are Chinese and English, with English as the standard language of contracts and business.

World’s main corruption free city

Transparency International’s Corruption insights catalogue 2012 stated that Hong Kong is the world’s least corrupt finances in the world. It ranks ahead of nations encompassing the France UK, Japan and the US. Bribery, influence-peddling and Cronyism obtain zero tolerance, due to Hong Kong’s strong public management, which guarantees that companies are free to practice their enterprise concerns on a level playing area.

Hong Kong’s ICAC (Independent Commission against Corruption) grant free guidance to corporation on how to avoid corruption. Introduced in 1974, Australia have utilized it for their corruption fighting bureaus and its success has been such that states round the world.

Distinct legal system

With its firm pledge to the direct of law, Hong Kong is a well liked place to settle disputes and structure contracts. Hong Kong’s legal structure is based on the British Common Regulatory scheme and it has a completely independent judiciary. The city furthermore recommends comprehensive arbitration services and mediation, which offer judgment that are enforceable in various jurisdictions.

Taiwanese fried chicken product establishes footing in Hong Kong

Ji Guang Holding Company Limited (Ji Guang) from Taiwan opened up its first shop in Hong Kong nowadays (November 20), included in its expansion strategy in Asia.
With a historical past of Four decades of making Taiwanese fried roasted chicken, Ji Guang is going to globalise its company. Following successful growth in Mainland China as well as Singapore, the company’s very first store in Hong Kong is a crucial step in its 2013 growth strategy. The new shop at The Lane shopping mall, over Hang Hau MTR station, provides constant customer demand from the regional mixture of shopping, industrial and residential areas.

Ji Guang Holding Company Limited (Ji Guang) from Taiwan opened up its very first store at The Lane retail center, over Hang Hau MTR station in Hong Kong these days (November 20). Deputy General Manager stated, “Hong Kong is both equally a global city along with a diners’ heaven, that makes it a perfect platform for our globalisation technique. That is the reason why we select Hong Kong as our local head office and to co-operate with Hong Kong’s Kata F&B Limited to assist us market Taiwanese delicacies to the world.

“Hong Kong as well as Taiwan have familiar ties and folks journey a lot between the 2 places, therefore our products have a long history and are a fact among Hong Kong individuals. This devotion means that Hong Kong is really a big marketplace for our brand. It truly is our commitment to deliver to Hong Kong clients the genuine Ji Guang fried chicken, having its top quality of components and services, ” stated Mr Ho.
The Associate Director-General, Mr Andrew Davis, welcome Ji Guang’s first retail outlet in Hong Kong. He stated, “Hong Kong gets nearly FIFTY million worldwide and Mainland guests a year, meaning excellent brand publicity for companies such as Ji Guang that aim at the worldwide market. We want Ji Guang each and every success featuring its business in Hong Kong and show forward to discovering its upcoming growth soon. ”
Regarding Ji Guang
Set up in 1973, Ji Guang is really a market innovator in the market as well as famous for its family members recipe that produces vintage Taiwanese “J&G Deep-fried Chicken”. This imports from Taiwan all of the unique marinades as well as great deep-fryer stoves, and all sorts of chickens are fried-to-order for overall quality.

Infrastructure For Business In Hong Kong

World-class infrastructure

Efficient travel, good logistics and highly developed telecommunication infrastructure has made international and local business easy in Hong Kong.

Efficient business operations require top quality infrastructure. The nation of Hong Kong has one of the most highly and advanced infrastructures which includes:

  • Convenient and efficient regional and local transport

Telecommunication systems and connectivity of world class status

World-topping air cargo and sea system

  • Connectivity worldwide

Managing multiple world markets has become easy in Hong Kong. Reliable flights to over 180 cities are accessible, which include forty eight locations in China Mainland. Popular destinations are often served by daily multiple flights.

  • Award-winning airport

The International Airport in Hong Kong is among the busiest airports in the world. It is also a major hub for many airlines plying the international airways. Hong Kong International Airport is one of the only 3 international airports that are awarded Five-Star ratings by Skytrax. It has been ranked the international airport in the world for 8 of the last twelve years.

For one desiring to get to and from the Hong Kong airport, it is easier as well. The trip between the airport and the central business district takes just twenty minutes via Rail Express link and convenient check-in is available in town up to 24 hours before departure.

  • Easy commuting

Public transport in Hong Kong is world-class. It is reasonably priced, efficient and reliable. 90% of the eleven and a half million commuter trips made daily are made on buses, trams, metro trains and ferries operated commercially.

Fares for public transport are low, many times below 1 US$ per trip. Taxis and cabs are plentiful and affordable in Hong Kong and almost all drivers can communicate in English to get you to your destination.

  • Top of the range communications

Excellent telecommunication infrastructures in Hong Kong allow people to work seamlessly and efficiently at very reasonable rates. 3G networks and broadband cover almost every part of the Hong Kong’s territory, providing individuals and companies with secure, accessible and reliable communications.

  • Shipping hub and international logistics

The natural deep and trading ports one of the major international air cargos and sea hubs in the world, that account for nearly 33% of exports out and in of China Mainland. Being a high-value hub for air cargo in 2012, Hong Kong has processed airfreight amounting to 4.03 million tons.

Business and Professional Services

Hong Kong is the business hub of Asia and many vibrant service companies have established their set ups in Hong Kong. They have a smart mind that’s why they are here because they have realized that Hong Kong is at ideal location and it will be very easy for them to serve clients all over the Asia, especially in the region of Mainland China.

Testing at Industrial Level

Product testing, its inspection and finally the certification, all these levels helped getting a boom at manufacturing ratios and exports, especially in Mainland China. Most of Manufacturers of Pearl River Delta, Mainland China and Hong Kong are found to be proficient in testing skills.

One can avail top class testing and certification services in China with credibility. Foreign Business firms have faith in Hong Kong’s inspection as well as testing services. The reason of this faith is Hong Kong’s is the integrity of high quality work and professionals

The finest way to acquire knowledge on testing and other similar opportunities in this city, you need to contact InvestHK’s Business & Professional Services team

One can avail top class testing and certification services in China with credibility. Foreign Business firms have faith in Hong Kong’s inspection as well as testing services. The reason of this faith is Hong Kong’s is the integrity of high quality work and professionals

The finest way to acquire knowledge on testing and other similar opportunities in this city, you need to contact InvestHK’s Business & Professional Services team

Executive Recruitment

Hong Kong is a well-developed centre for international financial and commercial departments. These types of advancements attract a huge market research purposes. The city has so many talented stars.

The government is maintaining an open immigration to smooth the entry of foreigners and Mainland people to Hong Kong.

Legal Services

Hong Kong is ideal for businesses in Asia because of its location and ranking. It is the law capital of the continent Asia and serving as home to 70 law firms. 70 law firms are international and 780 are local and the fact is the presence of more than 50 global firms in Hong Kong.

Management Consulting

Hong Kong is acting as a leading place in management services all over the Asia. Most of the world’s top firms of management consulting are located here. Do you know that Hong Kong is serving as home to top 70 banks of the world out of 100? As the result, many opportunities for management consultation have been generated in finance, IT, product development, and organizational structure as well as corporate strategy.

Non-Profit Organizations

Hong Kong is also known for international industry, advocacy, cultural and many charitable organizations. There is a vital role of international firms in developing awareness for social responsibilities. The extensive legal, professional services and financial network also play a part in rising to a pool of funding at corporate level and opportunities to profit from pro bono services.

Investment and Trade Promotion Agencies

Do you know that this city is the 2nd largest FDI recipient in the continent of Asia; it has a same position for 14 consecutive years. In 2012, the annual FDI exceeded up to USD 75 Billion. There are up to 45 cities and provinces of Mainland that have developed “window” investment firms in Hong Kong and these are acting as ideal for those who seek investment opportunities. Hong Kong is enjoying a strategic place in Asia and it attracts people to target investment.

The Advantages Of A Hong Kong Based Company

If you have a business and are looking for ways to expand into Asia, forming an offshore company is a viable possibility. Of course finding the perfect country to base your offshore company in can be tricky; unless you do all your research and know your facts beforehand. Fortunately there is a country in Asia that is the perfect partner when it comes to offshore company formation; this country is Hong Kong (HK) – also referred to as the territory.

When it became one of The People’s Republic of China’s two special administrative regions, it also increased its strategic value as an entry point into the various Asian Markets.

The territory is one of the world’s leading financial centers with an emphasis on a capitalist service economy that is characterized by some of the best conditions for global trade and finance. There are numerous benefits to a Hong Kong company formation but the most prominent amongst these is that this country is strategically located in Asia, and that it serves as a gateway for international companies wanting to enter the Asian markets and is also a gateway to the biggest Asian market of them all – China.

The Advantages of  Hong Kong  Company

Besides its perfect geographical location in the heart of Asia, there are many advantages to forming a company based in Hong Kong; some of these advantages are:

  • It has a sound and reputable legal system
  • It has a world class infrastructure
  • It has a highly educated work force
  • It has well developed capital markets
  • It has a simplified tax system characterized by low taxes
  • It is a politically stable society
  • Its currency the HKD, is one of the most traded global currencies
  • It has a world class communications infrastructure
  • It has one of the highest per capita incomes in the world

What Makes Hong Kong A World Class Business Location

Strategic location not withstanding, HK in itself is a world class territory and has received numerous awards for its superior proficiency in world finance. Among these awards are:

  • The World Bank’s rankings for one of the world’s best places for doing business.
  • The Global Financial Centre Index ranking as one of the most competitive global financial centers.
  • One of the highest ranked “e-ready” cities in the world.
  • One of the most competitive economies in the world.

The Human Development Index ranks it amongst the highest in the world in four tiers of human development, and more importantly, if you are looking to form a company there, you will want to know that for the past 14 years it has ranked first, out of 157 countries, in the Index of Economic Freedom. The Index of Economic Freedom is an annual index that measures the degree of economic freedom in the world’s nations. This makes it an extremely attractive proposition for the location of a new company.

How Do You Qualify For A Hong Kong Based Company?

Obviously there are certain standard requirements that have to be met before you can qualify for a HK based company; however, these requirements are generally quite simple and easy to meet. The main requirements are:

  • There must be at least one shareholder and/or director who is over 18 years of age.
  • At least one permanent resident from the country should be a member, or there should be an authorized company based in the territory representing and acting as the legal secretary for the applicant.
  • There should be one registered address there.

If you are looking for ways to enter the Asian Market, then look no further than Hong Kong; not only is it the perfect gateway, it is also a tax haven and makes good business sense.

Knowledge of Types of Companies is Essential

You can decide from a variety of corporation kinds with consideration of your commerce demands and necessities. A Limited Company is the mainly corporation kind. This is a corporation which is included in Hong Kong, which is mentioned as the proprietor can take all benefits and dispensations obtainable to any completely integrated commerce, with CEPA, a free of charge employment conformity with Mainland China.
Branch Office of Parent Company
If a corporation integrated external Hong Kong founded a position of production in Hong Kong, it should be recorded with provision of all kinds of documents. Dissimilar a supplement limited company, an area office is not a split official article from the center and can influence finances along with the acclaim ranking of its proprietor. Representative Offices cannot appoint in profitable actions and can accomplish partial purposes. They are practical if corporation requirements are needed to discover the Hong Kong market earlier than investing a huge amount in the commerce. If the corporation chooses to penetrate into a business which generates an officially permitted compulsion, it should be transformed from the commerce to a partial corporation or area bureau.
Company names
For limited companies integrated in Hong Kong, the corporation given name is required to not be the similar as a given name appears inside the directory of corporate data reserved by the Registrar of Companies. For this purpose, you can also make an effective search that can support the businessmen.
Company structure
For the most part of the limited company integrated in Hong Kong are confidential corporations restricted by contributions.
A confidential partial corporation in Hong Kong entails at slightest one executive and one corporation escritoire. If the corporation has one executive only, the solitary executive cannot be the escritoire of the corporation at the equal occasion. If the escritoire is an entity, he/she is supposed to usually exist in Hong Kong. If the escritoire is a commercial, its recorded administrative center or state of commerce must be resident in Hong Kong. A non-Hong Kong those people which are not residents of Hong Kong can be chosen as an executive. The schedule agency of the corporation has to be located in Hong Kong. There is no prerequisite for partners to be Hong Kong inhabitants. The solitary partner can be an executive of the corporation. Thus, businessmen should provide all documents to make business victorious and accomplished in the market place.