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New to Update Offshore Financial Centre

New to Update Offshore Financial Centre

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Published by Healy

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Categories:Business/Law
Published by: Healy on Nov 03, 2011
Copyright:Attribution Non-commercial

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04/30/2012

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O
FFSHORE
F
INANCIAL
C
ENTRE
 H
ONG
K
ONG
 
L
EADING
G
LOBAL
F
INANCIAL
C
ENTRE
 
Hong Kong is one of Asia‟s most fashionable cities. It‟s expensive; flashy;
crowded. It housessuperior talents, extreme weather, and overcrowding. But these are mere symptoms of theattraction Hong Kong offers so many. If you read the rankings awarded to Hong Kong, youmight think the former city-state
was contending for world‟s top jurisdiction in just about
everything:
 
Economics 
 
 –
In 2011, Hong Kong was named the freest economy in the world forthe 16
th
consecutive year.
 
 
Finance 
 
 –
Hong Kong placed 3
rd
-largest receiver of FDI in 2010.
 
Politics 
 
 –
 
Out of 173 jurisdictions assessed, Hong Kong‟s government was
perceived as 13
th
-least corrupt in the world.
 
Government 
 –
 
Measuring business regulations, Hong Kong is the world‟s 2
nd
-easiest place to do business, following Singapore.
 
Society 
 
 –
Hong Kong
“very high” on the Human Development Index, at 21
st
place in2011.
 
Infrastructure 
 
 –
 
Hong Kong International Airport was named „the world‟s best airport‟
in 2011, by the World Airport Awards.
 
Property 
 –
In 2011,
named Hong Kong housing the most overvaluedin the world, while 
named Hong Kong office property as the world‟s
mostexpensive.
The preceding list is by no means exhaustive!
What makes Hong Kong rank so high?
Hong Kong‟s inception as a trading port created its international reputation as the point where„East meets West‟. It has been a multicultural jurisdiction
for over 150 years, and hasdeveloped an autonomous government, legal code, and economy, adapted from the Britishsystem. As a leading global financial centre, the forms of capitalism and free market economypracticed in Hong Kong are comfortable for Western investors, making it easier to entice andaccept FDI. A Western business environment at the doorstep of the developing Chinese
economy, this „gateway to China‟ packs a powerful punch for attracting businesses and
investors.
Hong Kong‟s cornerstone of 
growth has been entrepreneurs undertaking Hong Kong
 
company formation.This vehicle has allowed vector growth for foreign direct investment into
 
Hong Kong since colonial times.
 
Investors own 100% of a Hong Kong company
100% control is retained over investments
100% of profits can be repatriated to home countries
Company profits sourced outside of Hong Kong are legally tax exempt
“One country, two systems” 
 
 
Hong Kong is considered to be part of „one country, two systems‟ with People‟s Republic of China, since the early 1980s. Because of Hong Kong‟s unique history
as an independentregion, allowing Hong Kong to continue to thrive under
its own legal, political and economicsystems, including finances, commercial and cultural agreements with foreign countries.
Hong Kong Company for all levels of business
There are significant advantages to doing business through Hong Kong, and the highrankings are a testament to this end. FDI, international business turnover, and rankings havesteadily climbed during the last 3 years in the midst of the global financial meltdown. It cameout of that on a winning growth streak.Below are just a few examples in which a Hong Kong company benefits at varying levels ofbusiness.
Businesses
 
 –
Hong Kong has one of the lowest corporate tax rates in the world, at 16.5%.Macau is lower but does not provide the global pulse point that belongs uniquely to HongKong.
The strong tax advantage is most useful for a Western corporation‟s Hong Kong
branch company or offshore company, as repatriation of profits is permitted. These subsidiaryHong Kong company structures can be registered as their own legal entities, which manycompanies find to be the best way to manage regional operations. The internationalreputation and strong commercial centre that is Hong Kong is unbeatable in Asia, especially if
Mainland China is part of a company‟s business strategy.
 
Entrepreneurs
 
 –
Because of the western style infrastructure, it is very easy for entrepreneursto set up and run a business.
The style of capitalism and Western legal infrastructure facilitate ease of businesssetup and company formation that many international business people are familiar.
Because Hong Kong is the gateway to China, entrepreneurs can reduce their cost base
sourcing products and services nearby. China‟s advantageous supply sources for 
manufacturing, natural resources, and labour are attractive for an entrepreneurialcompany set up.
Hong Kong banking centre infrastructure is first-rate and world-class. Entrepreneurs
can fund their enterprises with Hong Kong banks‟ financial backing, which is secure
and successful.

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