{"id":30525,"date":"2019-10-03T15:28:25","date_gmt":"2019-10-03T07:28:25","guid":{"rendered":"https:\/\/zegal.com\/?p=30525"},"modified":"2023-07-27T14:33:50","modified_gmt":"2023-07-27T06:33:50","slug":"5-benefits-to-launching-your-startup-in-hong-kong","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-au\/blog\/post\/5-benefits-to-launching-your-startup-in-hong-kong\/","title":{"rendered":"5 Benefits To Launching Your Startup in Hong Kong"},"content":{"rendered":"\n
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So you\u2019re thinking of launching your startup in Hong Kong?<\/span><\/p>\n\n\n\n

For entrepreneurs all over the world, Hong Kong has always been an attractive place to start a business. As a top financial hub for many entrepreneurs, Hong Kong has one of the most competitive and stable economies and relatively low tax rates. <\/span><\/p>\n\n\n\n

When it comes to startups, Hong Kong is similarly rising to be one of the most friendly cities for new founders and entrepreneurs to start their businesses. <\/span><\/p>\n\n\n\n

Here are 5 benefits of launching your startup in Hong Kong. <\/span><\/p>\n\n\n\n

It\u2019s easy to incorporate<\/h4>\n\n\n\n

Hong Kong is known for having an entrepreneur economy and along with the favourable tax system, it\u2019s very straightforward and fairly inexpensive to incorporate a company. (You can find the basic fees charged by the Hong Kong government <\/span>here<\/span><\/a>.)<\/span><\/p>\n\n\n\n

Your entire application can even be done remotely, and you’ll have your company opened in a couple days. <\/span><\/p>\n\n\n\n

If you’re handling incorporating your company yourself, you can submit your incorporation documents either online through the <\/span>24-hour Companies E-registry<\/span><\/a> or in person at the Companies Registry.<\/span><\/p>\n\n\n\n

That being said, most people choose to hire a professional service provider to take care of all of this on their behalf. There may be some additional fees if you are hiring an agency to do this (i.e. handling the paperwork or providing a (virtual) office address). The total costs are, however, still low compared to establishing a company in most other offshore jurisdictions.<\/span><\/p>\n\n\n\n

If you\u2019re looking for more information, here\u2019s a handy guide to <\/span>incorporation in Hong Kong<\/span><\/a>. <\/span><\/p>\n\n\n\n

You\u2019ll be launching into a global business hub<\/h4>\n\n\n\n

Another benefit of launching your startup in Hong Kong? It\u2019s an incredibly business-friendly city.<\/span><\/p>\n\n\n\n

Hong Kong is widely recognised as a global business hub and the location of choice for many international companies. <\/span>What\u2019s more, unlike many other (offshore) jurisdictions, Hong Kong law allows foreigners and non-residents to be the sole shareholder and director of a company.<\/span><\/p>\n\n\n\n

The city comes in third on <\/span>Forbes\u2019<\/span><\/a> list of best countries to do business, and first, according to PWC, for having the world\u2019s most business-friendly tax system.<\/span><\/p>\n\n\n\n

The startup community in particular is also incredibly international \u2013 according to <\/span>InvestHK<\/span><\/a>, 35% of founders come from outside Hong Kong. Vibrant sectors include fintech, followed by e-commerce, supply chain management, and logistics technology.<\/span><\/p>\n\n\n\n

Hong Kong is home to a growing number of startup accelerators<\/h4>\n\n\n\n

The startup ecosystem is growing and thriving here in Hong Kong \u2013 the presence of startups also attracts a number of other organisations that want to see it grow.<\/span><\/p>\n\n\n\n

There are no shortage of accelerators in Hong Kong, all with the goal of training and enabling young startups and founders with the tools they need<\/a> to successfully launch and grow their businesses. Accelerators typically provide funding, coaching, training and access to a network, and often include office space.<\/span><\/p>\n\n\n\n

Here are a list of just a few accelerators in Hong Kong: <\/b><\/p>\n\n\n\n