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First of all, why Hong Kong?

The place is your ticket to the wave of growth that Asia is experiencing. Asia is the most dynamic continent at the moment, and Hong Kong is the most respected and recognized place as a brand not only in Asia, but also in Western countries. This is a great asset and one of the main factors in favor of registering companies there.

Statistics speak!

The local tax system is its greatest asset. It is unique and different from other countries. There were nearly HK$300 billion worth of re-exports in July 2013. In 2012, Hong Kong ranked as the world’s ninth largest trader accounting for nearly 2.8% of total world trade. It comes before nations like Canada, Italy and Belgium!

What’s cool here?

Last year, Hong Kong was the 10th leading exporter in the world, accounting for nearly 2.7% of total world exports. It is worth remembering that even the United Kingdom fell behind in 11th position, with around 2.6% of the world’s total exports. What has helped this place reach such heights? Well, a tax system is a vital ingredient in recognizing where to register your company, because taxes have a direct relationship to the profit or turnover of the company. Places where the tax procedure is uncomplicated and places that levy less taxes are viewed favorably, with Hong Kong topping the list.

Here are some reasons that make the place special!

1. You only have to file taxes once a year when you open a business here.
2. There is a simplified tax system that only taxes income tax at a rate of 16.5% without value added tax or business tax.
3. For transactions outside of Hong Kong, the corporate tax rate is 0%. This allows for at least savings on sales tax and corporate tax.
4. More expenses can be written off against a Hong Kong corporation. The United States, for example, does not allow you to write off a glass of wine for your client or your commuting expenses as a business expense. However, in Hong Kong there is no such prohibition.
5. The place follows a single-tier tax system and therefore the tax rate on capital gains, shareholder dividends and foreign source income is 0%.
6. There are no foreign exchange controls here, allowing for the free circulation of funds, easy exchange and transfer of foreign currency, and convenient and rapid handling of credit operations.

Without a doubt, the place is the best place for business registration. Not only is it strategically located, but it has one of the cheapest tax systems in the world. So make a wise and informed decision today by registering your company there and see the difference.