Are you interested in launching a business in Hong Kong? If you are, you are among the very many businessmen who are vying for a slot in this country’s very vibrant economy.
What is a Business Startup?
No matter what target country you may have, the fundamental concept of a business startup applies.
The very first thing that you need before thinking of starting a business is the startup capital. You can raise this capital in four different ways. One way is to use your own money, or to borrow money from a bank. Continue reading
A very fine line differentiates tax evasion and tax avoidance. So if you think excessive and unjust taxes is keeping you from being truly wealthy, you need to be careful in the strategies you are using to cut down your taxes.
Ways to Avoid Paying Unmerited Taxes
There are safe ways you can avoid paying unfair taxes. Most of the giant international commercial conglomerates have their uncountable offshore companies in the Bahamas, the Cayman Islands, Hong Kong and other tax haven countries.
If they can do it safely, you can do it as well. Continue reading
Hong Kong has recently concluded an economic agreement with Mainland China. The agreement is called Closer Economic Partnership Arrangement or CEPA. This agreement facilitates access of Hong Kong’s manufacturers and suppliers of products and services to the huge Chinese market.
Good Economic Times Ahead Between Hong Kong and China
Under the CEPA, the Chinese government is committed to simplifying procedures and strengthening cooperation with Hong Kong on customs clearances, quarantine and inspection, quality assurance and food safety and to facilitate investment. Continue reading
After Hong Kong company formation, there are some important things to know about limited companies in Hong Kong. First, limited companies are characterized by the limited number of shares for each member and its one of the most widely adopted types of juridical entities in Hong Kong. Second, a limited company has to be included in the Companies Registry and must obtain a Business Registration Certificate within a period of 30 days after commencing its operation. Continue reading
To attract more investors in Hong Kong, its government did not require stringent rules for the setting up of offshore companies. The process is rather easy and very straightforward. It is the same whether it involves buying an existing company or starting a company from scratch.
First Things First
But before you start thinking of setting up your offshore company in Hong Kong, you need to do some preliminary thinking first. You need to think about the following things: Continue reading
Being an international city, Hong Kong has an enviable position. Because of its attractive and stable financial and political climate, many businesses around the world are setting up their offshore companies in this place.
It has evolved as a very important business center in the Asia-Pacific Region. Even when the administration of the country was reverted back to Mainland China, its surge towards the top of the financial heap continued unabated. Continue reading
One thing that is permanent in this world is taxes and more taxes. That is the reason why you can’t blame the top 500 Fortune Companies to use offshore companies to somehow reduce the tax they are forced to pay in the countries where they operate.
Tax Reduction is Mainstream
A report by two public advocacy groups in the United States revealed that as of 2013, over 70 per cent of Fortune 500 companies maintained offshore companies in tax haven countries just to reduce the tax they are required to pay to the U.S. Treasury. Continue reading
Offshore company formation is a very old tax trick that businesses, big and small, have been using since time immemorial. However, in recent times, all kinds of taxes are being exacted in the United States forcing an increasing number of businesses to search for tax havens such as Hong Kong and the Cayman Islands to reduce their tax obligations.
Seeking Help from Abroad
It is ironic that when many countries all over the world are reducing their tax rates, the reverse is happening in the United States. This tax related issues are taking place as the U.S. Congress remains to be unwilling to lower the tax rate to 35 per cent. Continue reading