As an international financial center, Hong Kong has an independent judicial system,  legal governance, free capital flow, and a sound regulatory system, which can  help further expand its business scale. So many people choose to start businesses  and register Hong Kong companies in Hong Kong. So what benefits can I enjoy  when starting a business in Hong Kong?

With the continuous improvement of Hong Kong's innovation and technology ecosystem,  as well as more opportunities brought by the construction of the Guangdong  Hong Kong Macao Greater Bay Area, the innovation and entrepreneurship atmosphere  in Hong Kong is becoming increasingly strong. According to data released by  Invest Hong Kong, the number of start-up companies in Hong Kong increased to  2625 last year, a year-on-year growth of 18%. The main business areas include  financial technology, e-commerce, supply chain management and logistics technology,  professional or consulting services, information technology and services, etc;  The number of job opportunities created surged by 51% to 9548, with over one-third  of the founders coming from outside Hong Kong.

What benefits can be enjoyed when starting a business in Hong Kong
 ① The government provides comprehensive support

In recent years, the Hong Kong government has actively and comprehensively  grasped the opportunities of the national "the Belt and Road" initiative  and the development of the "Guangdong Hong Kong Macao Greater Bay Area",  and has taken a number of measures to support the development of enterprises.  For example, the fiscal budget for 2019-20 proposed a number of policies to  support enterprises, such as providing the Financial Reporting Bureau with  a seed fund of 400 million yuan, reserving 5.5 billion yuan for the development  of the fifth phase of the Cyberport to accommodate more technology companies  and start-ups.

② Perfect credit financing channels

Financial institution loans are one of the main channels for corporate financing  in Hong Kong. The concept of "prime rate" is very important in the  financing of small and medium-sized enterprises in the banking industry in  Hong Kong. It is the basic loan interest rate that banks offer to the most  important or credit quality customers, and ordinary customers usually add a  premium on this basis. The well-established credit evaluation standards for  small and medium-sized enterprises in Hong Kong's banking industry enable eligible  small and medium-sized enterprises to quickly obtain the necessary funds for  business development, resulting in a win-win situation for both banks and small  and medium-sized enterprises.

③ Small and Medium sized Enterprise Support Program

The Hong Kong government strongly supports the development of small and medium-sized  enterprises, and has continuously introduced various policies over the years,  providing economic assistance to small and medium-sized enterprises interested  in expanding overseas markets. For example, in order to help small and medium-sized  enterprises successfully go public, the Hong Kong government established the "Growth  Enterprise Market" in 1999, sponsored by the Hong Kong Stock Exchange,  which specifically sets up an innovative stock market for small and medium-sized  enterprises with "growth potential".

④ Simple and low tax environment

Hong Kong companies and individual clients can enjoy a simple and transparent  tax system as well as low tax burdens in Hong Kong. The advantage of Hong Kong  taxation lies in the fact that it only has three direct taxes and a tax exemption  system, which reduces the tax burden.

How to start a business in Hong Kong
 To start a business in Hong Kong, the first step is to have a Hong Kong company.    Hong Kong company registration can be handled through professional agencies,    and of course, office space leasing, employee recruitment, and other processes    also need to be synchronized with Hong Kong company registration. After the    successful registration of a Hong Kong company, opening a bank account, accounting    and tax reporting, annual review and other matters are important steps to    maintain the normal operation of the company, and entrepreneurs should also    pay attention to them.

In addition, when it comes to entrepreneurship in Hong Kong, entrepreneurs  must be aware of the preferential policies available to them. For example,  the Hong Kong Entrepreneurship Settlement Program. This program is applied  for through the Hong Kong Special Administrative Region's "Mainland Talent  Import Scheme", similar to an entrepreneur, and the applicant relies on  a Hong Kong company for the application.