BusinessFocus Hong Kong
Setting up a company in Hong Kong is a very simple and straight forward process. More than 700,000 companies are registered here, some 6,500 of which are invested from overseas corporations. The Business Focus Hong Kong gives a detailed description of the various company formations, the steps to be taken and many other considerations that need to be taken into account when setting up in Hong Kong, such as the work permit, bank accounts, salary packages and more. A fair portion of the content is dedicated to an analysis of what differentiates Hong Kong from other locations in China and the region and that managing a company’s business in Asia out of Hong Kong has many practical advantages. The BusinessFocus Hong Kong gives practical advice to both newcomers and HQ decision makers.
An Overview of Hong Kong
|From a free port under British rule to its current status as a Special Administrative Region of the People’s Republic of China within the “one country, two systems” framework – Hong Kong has gone through an unique transformation process. This chapter provides a brief history of Hong Kong, as well as a look at the city’s current development trends.|
|There are few places in the world where the foundation of a company is as easy as in Hong Kong. The regulatory framework of Hong Kong allows four different corporate forms: Unlimited and Limited Partnership (comparable to the German OHG and KG), as well as Private and Public Company Limited by Shares (comparable to the German GmbH and AG). Another option is the setup of a branch or representative office as legally and financially dependent subsidiaries. This chapter gives on overview of each corporate form and their respective regulations.|
Trade and Commerce
Hong Kong has been a trading centre for goods from China and other Far East countries for centuries. Today, trade still constitutes an important pillar of the Special Administrative Region’s economy. As one of the most visited cities in the world, situated at the intersection of the Chinese and global markets, Hong Kong has become a popular location for international brands to showcase and sell their products. This section lays focus on the Do’s and Don’ts of commercial activity in Hong Kong.
|Coinciding with the handover to China on 1 July 1997, Hong Kong was given the status of a Special Administrative Region, granting the city a high degree of autonomy under the “one country, two systems” framework. Hong Kong has its own constitution separate from the P.R. China: The Basic Law is derived from the British Common Law. With the exception of foreign and defence policies, China does not exert direct influence over Hong Kong. Learn more in this chapter about Hong Kong’s judiciary.|
|The following section gives a brief summary of the core areas of Hong Kong’s economy, in particular infrastructure (construction, traffic and public transportation), consumer goods as well as services (trade and logistics, financial services).|