Press release from Business Wire India
Source: GuideMeHongKong.com
Tuesday, April 13, 2010 10:52 AM IST (05:22 AM GMT)
Editors: General: Economy, Environment, People; Business: Banking & financial services, Business services, Financial Analyst, Stock exchanges
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Hong Kong Remains a Popular Regional Base for Foreign Companies and Investors, Reports GuideMeHongKong.com
GuideMeHongKong.com's analysis of recently released data for 2009 shows that Hong Kong continues to be a popular jurisdiction for foreign and mainland China companies to manage their global operations
Hong Kong S.A.R, Tuesday, April 13, 2010 -- (Business Wire India) -- According to statistics recently released by Hong Kong's Census and Statistics Department, during 2009 there were a total of 6,397 companies in Hong Kong that represented foreign parent companies; of these, 1,252 were regional headquarters (RHQs), 2,328 regional offices (ROs) and 2,817 local offices (LOs). Further analysis of these statistics by www.GuideMeHongKong.com reveals that the majority of the companies incorporated in Hong Kong had foreign parent companies from just five nations - USA, Japan, UK, mainland China or Taiwan.
The United States topped the list of countries with Regional Head Quarters (RHQs) in Hong Kong, followed by Japan and the United Kingdom. The order remained the same for Regional Offices (ROs). Mainland China topped the list of countries with LOs in Hong Kong, followed by the United States and Japan.
According to Jacqueline Low, a senior member of the team that operates the GuideMeHongKong.com site - the principal driving force behind this trend is Hong Kong's liberal foreign investment policy. Ms Low said, "Hong Kong strongly encourages foreign investment and there are no limits on foreign ownership. Hong Kong allows 100% foreign ownership of private limited companies. Quite simply, there is no difference between a local and a foreign person who wishes to form a Hong Kong company. This ease of starting and operating a business plays a very big role in attracting foreign companies to set up a regional or local base here. "
Accordingly to the data released, the favorable factors affecting the choice of Hong Kong as a location were:
(1) Simple tax system and low tax rate;
(2) Free flow of information;
(3) Absence of exchange controls;
(4) Corruption-free government;
(5) Communication, transport and other infrastructure;
(6) Rule of law and independent judiciary;
(7) Political stability and security;
(8) Free port status;
(9) Geographical location;
(10) Availability of financial services.
The negatives for Hong Kong included the availability and cost of residential and business accommodation.
The financial downturn has not diminished Hong Kong's attraction. According to Ms. Low, "Despite a challenging economic environment during 2008 and 2009, overseas companies showed confidence in Hong Kong's role as a regional hub. Hong Kong attracted investments of over US$63 billion in 2008 alone." Ms. Low added, "Enterprises from the mainland and Taiwan find Hong Kong uniquely positioned to help them expand internationally. At the same time, Hong Kong's strategic location makes it an attractive base for foreign companies wanting to tap the mainland China and regional markets. As a result, there is a large number of companies from the West as well as from mainland China and other Asian countries that are setting up business operations in Hong Kong. The recent Hong Kong-Guangdong Co-operation Agreement only serves to further strengthen Hong Kong's regional dominance."
Ms Low anticipates that this trend will continue. "With Asia emerging as the world's economic growth engine, Hong Kong is uniquely positioned for companies who want to gain access to the Asian region. This year we expect more overseas companies to establish an Asian presence by setting up a company in Hong Kong," said Ms. Low.
About GuideMeHongKong.com
Launched in 2009, www.GuideMeHongKong.com is a Hong Kong-focused portal that provides comprehensive, accurate and current information to global business professionals and entrepreneurs about doing business, relocation, and living in Hong Kong.
CONTACT DETAILS
Andrew Chen, GuideMeHongKong.com, contact@guidemehongkong.com
KEYWORDS
ECONOMY, ENVIRONMENT, PEOPLE, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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Thanks for the info. It is a very informative article especially for beginners out there who want to start their business in Hong Kong. Truly, Hong Kong has many advantages and benefits for entrepreneurs and their businesses, that's why I am not shocked why it remains a popular regional base for foreign companies and investors . As a foreign entrepreneur who starts my own company in Hong Kong I never regret it because besides its strategic location, it has one of the lowest tax rates, and what I love in Hong Kong, is they have a quick company formation. It has become an easy and great experience when I look for a trusted company service provider. I have a seamless and quick Company Registration in Hong Kong. They assist me in registering my company which is time and cost-efficient for me as their services come in a package. They help me run my company smoothly and without any trouble.
ReplyDeleteHong Kong is a best place for me. As a foreign entrepreneur, they offered benefits that are uniquely available among other cities. Even before I come, as a non-resident I can remotely open a local integrated Hong Kong bank account that is ideal for my banking needs.
ReplyDeleteAs I step into the world of business and embark on the path of Hong Kong company formation feels like a reassuring affirmation of my choice. It's like discovering that I'm joining a thriving community of foreign companies and investors who see the potential in this vibrant city.
ReplyDeleteThe article's emphasis on Hong Kong's strategic location, robust legal framework, and international connectivity makes me feel like I'm making the right decision. It's not just a choice of convenience; it's a choice that aligns with the aspirations of countless others who have found success here.
Thank you for shedding light on the attractiveness of Hong Kong. As I embark on my journey for HK company registration, I'm carrying with me the understanding that I'm entering a landscape that has proven itself to be welcoming and conducive to growth.