Hong Kong: Where Opportunities Connect
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Invest Hong Kong (InvestHK) is the government department of the Hong Kong Special Administrative Region (HKSAR) responsible for attracting Foreign ABOUT Direct Investment, supporting overseas and Mainland China businesses to set up and expand in Hong Kong. Its mission is to attract and retain foreign direct investment which is of strategic importance to the INVEST economic development of Hong Kong. The Department has helped thousands of companies from all over the world to set up or expand in Hong Kong. In all its work, the Department applies the following core values: passion, integrity, professionalism, customer HONG service, business friendliness and responsiveness. InvestHK has staff and representatives in key business cities worldwide looking after target markets in Asia Pacific, Europe, Middle East and North and South KONG America. HONG KONG: CENTRAL LOCATION IN ASIA Mainland China HongH Kong’s proximity to Mainland China and Southeast Asia along with its melting pot culture gives startups Hong Kong a unique advantage to replicate their business models in other new markets. hours 4 Eric Gnock Fah Most of Asia’s key Co-founder and President markets within four Klook Travel Technology Limited hours’ fl ight time 5 hours From half the world’s population 1 Setting up a company in Hong Kong is easy and FREE, inexpensive and is made even easier with the HELPING YOU ongoing support of InvestHK. The Department’s Hong Kong and overseas teams CUSTOMISED, work seamlessly to support the successful set up and expansion of clients’ businesses in the city. We partner STEP-BY-STEP with clients on a long-term basis and are available to AND help at any stage of your business development. CONFIDENTIAL SERVICES AFTERCARE / EXPANSION Provide tools to help client’s continuous Latest Business Information Business Facilitation Support expansion in Hong Sector-specifi c advice and opportunities Assistance with property identifi cation Kong LAUNCH Business incorporation procedures Visa applications, relocation advice Support in identifying Tax and business regulation Business licences, trademark registration Advise on professional growth opportunities and business services to ensure a sustainable Cost-of-business models Intellectual property and trade regulations SET-UP providers foundation for growth Employment legislation Advice on living and working in Hong Kong, Offer marketing Introduction to Continue to support including housing and schooling Immigration requirements business service and public relations across marketing and PLANNING Ongoing business advice providers services to support public relations Offer guidance business launch Government liaison Informing on tax and in strategic Introduction to Service Providers business regulations implementation Lawyers and evaluation of Liaison with relevant Dedicated Sector Specialists Accountants business decisions, government departments to Serve Clients including opportunity Human resource specialists Advise on sector- Business and Professional Services identification specific industries and Consultants Consumer Products Connect with relevant opportunities Designers Consulates, Chambers Creative Industries of Commerce and Public relations fi rms Financial Services business associations Interior design specialists Financial Technology (FinTech) Advise on living and Real estate agents, etc working in Hong Kong, Innovation and Technology e.g. bank accounts, Tourism and Hospitality housing, schooling Publicity/Networking and networking, etc. Transport, Infrastructure and PR and marketing support to generate publicity Advanced Manufacturing for clients Ongoing event and networking opportunities 2 3 INVESTHK’S WORLDWIDE NETWORK Oslo Gothenburg Moscow London Berlin Brussels Paris Toronto Milan New York Istanbul Beijing1 San Francisco Seoul Tokyo Shanghai Jerusalem Chengdu Osaka Wuhan Dubai 2 Guangzhou Mexico City Mumbai Hong Kong Bangkok Singapore Jakarta Lima Rio de Janeiro Santiago Sydney Investment Promotion Units in Hong Kong Economic and Trade Offi ces Consultants Note: 1 Beijing Offi ce 2 To open in 2021 Offi ce locations are subject to change. For the latest version, please refer to InvestHK’s website. 4 5 TOP REASONS WHY HONG KONG Here are some of the many reasons to choose Hong Kong as the bbestest plplaceace fforor yyourour bbusinessusiness anandd idideaseas ttoo fl ourish.ourish. Central Location in Asia Sophisticated Infrastructure Low and Simple Tax Regime %VAT GST WINE DUTY Hong Kong enjoys an enviable and strategic location in Hong Kong is a global transport and information hub Hong Kong has a simple, transparent and stable CAPITAL GAINS TAX the heart of Asia. Putting your business in Hong Kong completely plugged into global markets and networks. taxation system. The city also has a growing network GLOBAL TAXATION means you are closer to your customers, wherever in Hong Kong International Airport is one of the busiest in of comprehensive double taxation agreements (CDTAs) the region they are based. the world in terms of air cargo and passengers. The city with major jurisdictions. WITHHOLDING TAX ON INVESTMENT also has one of the world’s busiest and most effi cient ESTATE DUTY SALES TAX container ports. The Express Rail Link connects Hong Pre-eminent Bridge between Kong into the Mainland’s high-speed rail network while Two-Tiered Tax Rates China and the World the Hong Kong-Zhuhai-Macao Bridge is the world’s longest bridge-tunnel sea crossing. The profi ts tax rate for the fi rst HK$2 million of profi ts 0 of corporations is 8.25 percent. Profi ts above that Hong Kong plays a pivotal role in national development Our telecommunications infrastructure is very amount is subject to 16.5 percent. For unincorporated strategies including the Guangdong-Hong Kong-Macao advanced, with 93.2 percent household broadband businesses (i.e. partnerships and sole proprietorships), Bay Area and the far-reaching Belt and Road Initiative. coverage and 260 percent mobile penetration rate the two-tiered tax rates are correspondingly set at 7.5 The Mainland-Hong Kong Closer Economic Partnership while the sophisticated ICT infrastructure includes percent and 15 percent. Arrangement (CEPA) provides tariff free access to the 11 submarine cable systems and 12 satellites for Mainland for Hong Kong manufacturers and enhanced external communications. The two-tiered profi ts tax rates regime benefi ts eligible access for Hong Kong service providers. enterprises with assessable profi ts, irrespective of their size. To ensure that the tax benefi ts target small World-class Professionals and Talent and medium enterprises (SMEs), the application of the International Environment two-tiered rates is restricted to only one enterprise Hong Kong has a highly educated, bilingual workforce. nominated among connected entities. Hong Kong is the main regional business hub in Asia. The pool of professional talent has international Being in Hong Kong means you are closer to the business know-how and expertise in doing business The two-tiered profi ts tax rates regime reduces the tax region’s decision-makers and opportunities. English is in Mainland China. Hong Kong is also home to some burden on enterprises, especially SMEs and startup the primary language of business and many people also of Asia’s leading universities, world-class technology enterprises. speak Mandarin and Cantonese. parks, institutes and R&D centres, together with range of schemes to facilitate talent from around the world to work and live in Hong Kong. Rule of Law Under the “One Country, Two Systems” principle, There has always been free movement of Hong Kong retains its common law system and its rule capital, rule of law, simple taxation and for of law provides eff ective legal protection to individuals people coming from overseas, Hong Kong and businesses. The Hague Conference on Private is a safe place to walk around. And all these International Law has its fi rst regional offi ce in Hong Kong, refl ecting a strong vote of confi dence in the city’s HongHo Kong’s status as a world class city has advantages are still going on today. legal foundation. attracted talent from all over the world which contributes to a deep and diverse talent pool. Michael Duck Executive Vice President Its robust legal system and fl exible fi nancial UBM Asia infrastructure are also favourable for us to expand our global reach. Gary Ngan, CFA Chief Financial Offi cer Meitu, Inc. 6 7 BELT AND ROAD INITIATIVE LIVING IN HONG KONG The Silk Road Economic Belt and the 21st Infrastructure projects such as the Hong Kong- There’s no other place in the world like Hong Kong. The Asia’s world city is an Century Maritime Silk Road – the Belt and Road Zhuhai-Macao Bridge, Guangzhou-Shenzhen-Hong open, cosmopolitan and pluralistic society that seamlessly blends east and west, (B&R) Initiative – promotes co-operation among Kong Express Rail Link and the three-runway system countries and regions in areas of policy co-ordination, of the Hong Kong International Airport will further new and old. facilities connectivity, unimpeded trade, financial strengthen connectivity between Hong Kong and the integration and people-to-people bonds. Mainland, and the world. International Schooling Highly Accessible Nature As a key link and the prime platform for the B&R, and Hong Kong companies operate and manage railways, with the Central Government’s support, Hong Kong airports, ports, power and gas supply and other There are over 50 international schools off ering over About 70 percent of Hong Kong is countryside, with