Why Looking Towards East Means Looking Towards Hong Kong?

By Author: Bryan Wong
Total Articles: 11
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There has been a recent trend of looking towards the east for business growth for companies in the west. While Asian nations have been growing rapidly for quite some time now, there is a renewed focus on them at the moment due to the economic recession in the west. Countries in Europe are still suffering from low economic growth, job losses and loss of consumer confidence. Even the United States is currently limping back to positive economic growth although the way ahead is still rocky and tough. On the other hand, many Asian nations have been growing without any obstacles and the global GDP growth is coming from Asia at the moment.

However, for many western companies, often looking east means looking towards Hong Kong. It is difficult for them to see beyond Hong Kong and understandably so. For several decades, Hong Kong has been the darling of the west. With excellent business infrastructure, business friendly laws, low taxation regime, immaculate law and order situation with protection from intellectual property rights, Hong Kong has been the best place to do business for foreign companies. Foreign companies also do ...
... not have to worry about getting a local partner to register a business in Hong Kong. Unlike most other Asian countries, 100 per cent foreign ownership is allowed in Hong Kong. Foreign owned businesses are treated similar to local owned companies and all business benefits, incentives and tax breaks and extended to them as well.

Hong Kong also allows companies to use any major currency of the world for several of their business transactions. Being a leading financial hub, all major banks are present in Hong Kong and they facilitate international business between companies from all over Asia and beyond. Also Hong Kong is known for being the ideal location for a regional headquarters. Currently, Hong Kong has the highest density of regional corporate headquarters for any city in the world. Doing business with most Asian nations literally becomes simpler from Hong Kong as the city is strategically located in the heart of the entire Asian continent. All major cities are a short flight away and its time zone is ideal for managing multiple offices across Asia.

Of course lately Hong Kong has been able to attract even more foreign investment because of the growth in China. Companies from the west prefer registering their businesses in Hong Kong and use their Hong Kong Company to do business with China. In this way they get to take advantage of Hong Kong’s business environment and at the same time they get to enter the huge Chinese market which offers incredible opportunities for all kinds of businesses.

About the Author
Bryan Wong is a business analyst in the Asia-Pacific region and in his free time writes business articles. In this article, Bryan talks about Opening a company in Hong Kong and Business incorporation in Hong Kong.