May 16th, 2012—Hong Kong—As per the World Bank in its annual “Doing Business” report, Hong Kong is currently the second easiest place to do business in the world and is the fifth easiest place to start a business. While there are several factors that together account for the excellent rankings, the fact that Hong Kong has one of the simplest foreign company incorporation policies make the city one of the best places to start a business.
As per GuideMeHongKong.com (www.guidemehongkong.com), out of the developed nations with a vibrant economy, not many could come close to the ease with which foreigners can incorporate a business in Hong Kong. Firstly, foreign business owners are not even required to visit the city for starting a business. They can do so remotely with the help of an incorporation services provider based in Hong Kong. Foreigners can own 100% of a company registered in the city and both the company shareholders and the company director can be non-residents. They can reside outside Hong Kong and manage the company after registration. It takes about 3 working days for the entire incorporation procedure to be completed and comprises of two simple steps. The first step is to get your proposed company name approved and the second step is to submit the application forms and required documents with the company registrar who would issue the certificate of incorporation immediately after registration. Currently, Hong Kong is working towards reducing the number of days taken even further and it is expected that soon, it would take only a day to form a foreign owned company in the city.
According to GuideMeHongKong.com, currently, Hong Kong would rank amongst the top two nations in Asia for ease of doing business and starting a company. However, in Hong Kong, not only is the initial setup process really simple, the ongoing compliance and management of businesses are also fairly simple as compared to rest of Asia.
GuideMeHongKong.com is a Hong Kong-focused business information portal targeted towards entrepreneurs who are exploring a move or business in Hong Kong. The site provides detailed information on Hong Kong company registration, taxation, immigration and ongoing compliance matters for startups and small to medium sized companies. Thousands of visitors use our portal every day to obtain comprehensive, accurate and up-to-date information about Hong Kong. For more information please visit http://www.guidemehongkong.com/