Its economic success is largely based on a whole-hearted adherence to free and open trade, the values encompassed in a British common law legal system and a laissez-faire, non-interventionist attitude on the part of government. There are few if any significant barriers to investment by foreigners. The government has consistently followed business friendly policies and continues to do so.
It is not an 'offshore' jurisdiction as such, but has low tax rates which are levied only on Hong Kong-source income. There is no capital gains tax, no withholding tax, no sales taxes, no VAT, no annual net worth taxes and no accumulated earnings taxes on companies which retain earnings rather than distribute them.
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COUNTRY:
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HONG KONG
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|---|---|
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Region:
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Asia
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Currency:
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Hong Kong Dollar (HKD) (HK$)
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Languages:
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Cantonese, English
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Time Zone:
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UTC +8
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Phone Code:
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+852
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Communications:
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Very Good
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Formation Cost:
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2000 - 2800 USD$
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Formation Time:
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12 - 20 days
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Maintenance cost:
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600 - 1200 USD$
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Suitable for:
- Banking,
- Insurance,
- Fund Management,
- Shipping,
- Trading Goods,
- Trading Financial,
- Intellectual Property/Licensing
- Holding Companies,
- E-commerce, Property Ownership
Vehicle Types:
- Limited companies,
- public limited companies,
- trusts,
- branches,
- general partnerships,
- limited partnerships and sole proprietorships
Capital primary business districts:
Victoria, Kowloon
Good Relationships:
China, Singapore, United States
Bad Relationships:
Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria
Tax Burden - Business:
Light
Tax Burden - Individual:
Light
Headline tax rates:
CIT 16.5%, PIT 15%, VAT 0%
Treaty Jurisdictions:
Austria, Belgium, Brunei, Canada, China, Czech Republic, France, Guernsey, Hungary, Indonesia, Ireland, Japan, Jersery, Kuwait, Liechtenstein, Luxembourg, Malaysia, Malta, Mexico, Netherlands, New Zealand, Portugal, Qatar, Spain, Switzerland, Thailand, United Kingdom, Vietnam
TIEA Jurisdictions:
United States
