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Top 5 Reasons Why You Should Have A Company In Hong Kong
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Diversifying your business is highly crucial. You get to learn about different kinds of markets and their buying behavior. It is one way of developing your own business skills. And, by the term diversifying, we are not signifying the boundaries. This means, if you are thinking about diversifying your business, you can take it to another district, another state, or another country. If you are thinking about the last option, we have the best answer for that – Hong Kong. One would say that why not China or Singapore who are currently at the top positions in the whole world. Well, we give you 5 best points what makes Hong Kong superior to all these countries:
1. Setting up business in Hong Kong is highly easy
The task of setting up businesses offshore is a highly tedious task. We generally say this because the task is generally so daunting in our own country that talking about others is completely out of the question. However, Hong Kong is different. The country offers a very simple and easy process for setting up a company. There are options that will allow you to start your company within two days.
2. The country is a world leader in business
There is a reason why it allows entrepreneurs and investors to do business so easily in the country. Hong Kong understands business best than every other country. In a very short span of time, the country stands as one of the largest providers in the field of IT, business, and banking. They provide a very safe and secure process of operations.
3. Hong Kong banks handle multiple currencies
Another reason why you should set up company in Hong Kong is the international banks over their handle multiple currencies. They an easily deal with any currency used in your transactions. This is a huge problem in the banks of many countries. They will always prefer to deal with their own currency and, therefore, you have to take care of all the conversions. However, in case of Hong Kong banks, you have to do nothing. They can accept payments made from your clients in any currency, hold them in your account for as long as you want, and encash it when you want to withdraw them.
4. Corporate tax for transactions outside Hong Kong is 0%
When it comes to paying taxes for transactions carried outside Hong Kong even if your business is established inside the legal boundaries of the country, the tax is null. You are not liable for all the earnings that you make from groups or companies that exists outside the country.
5. Minimal Risk
It is the safest and most effective option for diversifying your business. Taking the first step to globalization is sometimes highly risky. But, with this level of support, you can easily take the risk of a company set up Hong Kong and move ahead with it.
Find a consulting firm that can help in setting up business in Hong Kong.
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