With a thriving economy and great infrastructure, Hong Kong is definitely a great place if you seek to expand your business in Asia. Essentially, there a lot of great things about setting up company in Hong Kong.

However, prior to getting into the matter, it is first important to know the requisites in setting up company in Hong Kong. Basically, for offshore companies, it is important to seek first the approval of the company as the primary requirement. After which, an Incorporation Form will be filled up and submitted to the authorized agency, then a copy of the passport and proof of residence and other documents of the directors and shareholders, then Certificate of Incorporation of Parent Company (for corporate directors and shareholders) as well as the registration and the nominal capital fee.

Now, what are really the benefits or great things about expanding your business in Hong Kong? Below are some of them.

1. Setting up company in Hong Kong can provide you as an entrepreneur a good means to open a market in China. Since Hong Kong is an island part of China, getting into China’s market can be easy. We all know that China is one, if not the best and most thriving economy in Asia and with that, your business can as well thrive when you get the chance to connect with the Chinese market.
2. Considering the fact that Hong Kong is one of the prime financial and commercial hubs in Asia, when you invest for an expansion in Hong Kong, you can be guaranteed of a secured banking in this said place. Hong Kong has almost all the top international banks and having a corporate account in any of these will create a good image for your company.
3. One great reason why HK is home to many offshore companies is that they can get benefit from legal tax exemption. This is because Hong Kong implements a territorial source principle of taxation. This means that all profits generated outside of Hong Kong is TAX free.
4. Also,setting up company in Hong Kong can offer entrepreneurs low operational costs. And since HK is under the British law, you can guarantee a democratic and fair treatment of your business in HK.

With these aforementioned things, it’s not so surprising why many people had gone to set up an offshore company in Hong Kong. If you want to be among the globally recognized businessmen in the Asian region, then setting up a company in HK would make a great decision.