Why do business in Hong Kong

Gateway to China

Hong Kong's geographical proximity to China and strong financial and banking expertise grow from strength to strength and continue expansion into the Greater China market. The Closer Economic Partnership Arrangement (CEPA), which took effect at the beginning of 2004, provides Hong Kong with additional and exclusive Mainland market access benefits. The blend of Hong Kong's world class financial, marketing and technical expertise and sophisticated infrastructure with the mainland's rapidly developing manufacturing and services base has created a win-win situation. Mainland China is now Hong Kong's largest trading partner. Thousands of international companies involved in China trade have chosen to establish their beachhead in Hong Kong.

Low Taxes

Hong Kong taxes are among the lowest in the world, and our tax regime is simple and predictable. The Profits tax rate is the same for foreign and local companies - a low 17.5 percent. The actual tax bill is often even less after various deductions and depreciation allowances. There is no capital gains tax in Hong Kong, withholding tax on dividends and interest or collection of social security benefits. The salaries tax rate is at a maximum rate of 16 percent, imposed only on all salary income of individuals derived in or from Hong Kong. The salaries tax is demanded on a yearly basis and can be paid in two installments, usually between December and March. The property tax applies to owners of land or buildings situated in Hong Kong. It is low by international standards: 16 percent nbso online casino (for 2004-5) of the rental income from the land or buildings and an allowance of 20 percent is permitted for repairs and maintenance.
There is no sales tax or VAT in Hong Kong. The limited tax base, combined with exceptionally low tax rates, makes Hong Kong's dirtifybonus.org tax incidence much lower than in virtually all other developed economies.

World Class Infrastructure

Hong Kong people take it for granted that everything works properly. The electricity grid is state-of-the-art and supply is more than adequate. Blackouts are not part of the vocabulary. Drinking water is readily and reliably available. Taxis operate around the clock. Mobile phones connect -- even in tunnels and in the underground railway. The only modern, fully developed deep water harbour between Singapore and Shanghai, Hong Kong is the focal point of all maritime activities in southern China. The state-of-the-art Hong Kong International Airport is online pokies {RND_WORD} just 23 minutes from the central business online casinos district by a high-speed craps rail link. Hong Kong continues to move ahead with vision. It plans to spend US$30 billion best online casino over the next five years on a significant expansion of the railway network, new land formation, roads, new town developments, government online casino buildings, schools, community facilities and environmental protection.

Rule of Law

The rule of law is fundamental to Hong Kong's success. Hong Kong's legal system is separate from Mainland China's, and English common law prevails. Hong Kong has developed into one of the world's major arbitration jurisdictions since establishing its International Arbitration Centre in 1985. Its expertise in commerce, finance, shipping and construction provides online casino the necessary pool of experienced professionals to promote dispute settlements. These include accountants, architects, bankers, engineers and insurance experts, as well as lawyers. Hong Kong has long been, and remains, a safe city with low crime rate.

Clean Government

Hong Kong is one of the most corruption-free economies in the world. Cronyism, influence-peddling and bribery receive zero casino online tolerance here. This is due to our strong public administration as well as Hong Kong's Independent Commission against Corruption (ICAC). The clean government ensures that companies are free to pursue their business interests on a level playing field without concern for corruption.

World's Freest Economy

Free trade is the life-blood of Hong Kong. As a result, it is one of the most open, externally-orientated economies in the world. Hong Kong embraces globalization of trade and services and is an active participant in international organizations that promote such activities.

  • The cornerstone of the economy rests on free enterprise, free trade and free markets open to all

  • No barriers to trade - no tariffs, no quotas, no exceptions

  • No restrictions nbso online casino on investments inward or outward

  • No foreign exchange controls online casino

  • No nationality restrictions on corporate or sectorial ownership

Free Flow of Information

Hong Kong enjoys a constitutionally-guaranteed free press and freedom of speech. More than 40 newspapers and 700 periodicals are published in Chinese and English in a city that is home to about 130 media organizations. There is no government censorship and both local and overseas publications circulate without hindrance.
All the top international news organizations maintain a presence in the territory and many trans-continental publications print their Asian editions here. Broadband is available to over 98% of households and more than 95% of business buildings.

Skilled Workforce

Hong Kong ranks among the very best in the world in terms of management experience in international business. The extraordinary success of economy owes much to its well-educated and adaptable workforce.
Hong Kong's workforce is computer-literate, resilient, flexible and entrepreneurial. The culture here is one of industriousness underlined by a hunger among individuals to better themselves.
Labor relations are generally harmonious.
English is the lingua franca of the business and legal community.
Immigration procedures for skilled personnel are transparent and straightforward.

International Lifestyle

Hong Kong offers a stimulating, dynamic and cosmopolitan lifestyle. It's a city that never sleeps. But it also has its tranquil side with lush countryside and remote beaches accessible only from the sea. Some 40% of Hong Kong is Country Park and shielded from development. It's a city of eastern and western culture with arts centers, museums and libraries. The annual Arts Festival and cultural events all year round feature top performers from around the world.

It's the food capital of China. Every Chinese regional cuisine is celebrated in Hong Kong. It's a city with well-developed international tastes, too. Whatever one fancies, whether it's haggis or sushi, French haute cuisine or burgers, falafel or pizza, Hong Kong diners are spoilt for choice.

The choice of accommodation is wide: ranging from luxury high-rise flats in the heart of the city to detached villas in the rural New Territories. Two-year rental leases are standard. There are no restrictions on foreigners buying property.

Taxis and buses run around the clock and there is virtually no corner of inhabited Hong Kong that is inaccessible. The underground and over ground railways are fast, reliable, reasonably priced and equipped with state-of-the-art equipment.

World-class private and public health services are staffed by locally and internationally trained doctors, dentists, nurses and other medical professionals. As an additional benefit, Hong Kong is the world leader in research in traditional Chinese medicine and licenses trained practitioners.

It is probably harder to find an interest or activity that is not catered for in some way in Hong Kong. Athletes, whether fanatical or purely recreational, are well catered for. Horse racing is the most popular leisure activity. Sailing has long been popular and windsurfing has taken off since Hong Kong won its first Olympic gold in the sport. Wakeboarding and surfing are the latest crazes. Public facilities are provided for all the mainstream sports, including soccer, golf, riding, baseball, table tennis and court sports such as squash, badminton, tennis and basketball.

Almost every style of the martial arts is practiced in the city that invented the kung fu movie genre. Cricket, hockey (ice and field), karting and mountain-biking all have followings in Hong Kong.