What is required to take a company to Asia-Pacific and win a big market share? How do you take advantage of the emerging Asian markets to become a global brand? The best method is opening a company in one of the leading offshore jurisdictions in the region, and the most outstanding is Hong Kong.
Hong Kong is strategically located in the heart of Asia, which means you can easily access the rest of Asia-Pacific for trade. This will be way easier than you can imagine because Hong Kong has also signed bilateral trade agreements with China and other Asia-Pacific countries. Simply put: registering a business in Hong Kong is a huge opportunity for growth and success.
To simplify the process of winning this market, the first step is registering a company in Hong Kong. Keep reading as we demonstrate why you should use the best company formation services in Hong Kong.
Hong Kong and Asia Pacific Economy in Brief
Before looking at the benefits of company registration with the help of an agency, let’s start by looking at the numbers. What makes Hong Kong and Asia-Pacific the right place for business?
- Hong Kong’s economy grew by 6.4% in 2021, which is considered an excellent rebound after the recession caused by the COVID-19 pandemic in 2020.
- Hong Kong has a GDP of USD472 billion (2021 estimates), making it the 35th largest on the globe.
- Hong Kong has a population of 7.5 million people.
- It is a highly developed territory and is ranked 4th on the UN Human Development Index.
- The jurisdiction has a capitalist mixed service economy characterized by minimal government intervention, a robust financial market, and low taxation.
- Asia-Pacific accounts for about 40% of the global GDP, which is a huge leap from about 30% around 2000.
Why You Should Use Company Formation Services in Hong Kong
The numbers we have highlighted above indicate one thing: a jurisdiction and region relentlessly moving to greater heights. The best way to get started is by using company formation services in Hong Kong. Here are the benefits to anticipate:
Your Documents are Prepared Professionally
The process of company incorporation in Hong Kong requires you to prepare a long list of documents. Many are those who find it challenging, but there is no need to worry when working with company formation services in Hong Kong.
The experts have been in the Hong Kong market and will prepare all the required documents professionally and complete the registration process fast.
An Agency of Experts can Help You to Reduce the Cost of Company Registration
We must indicate that the process of registering a company in Hong Kong requires a significant budget, but it can rise so much if you opt to do it alone. To keep the cost low, an agency will come in handy. With the experts from an agency, you only need to provide the relevant details. Here is a demonstration of how they can help to cut down the cost of company registration:
- You do not need to book a flight to Hong Kong.
- The selected agency of experts can act as your company secretary. So, you will not need to run ads or hold interviews searching for a company secretary.
- A good agency of experts can be your company’s registered address.
helping You to Demonstrate Tax Substance
To take advantage of the neighboring markets through bilateral trade agreements, Hong Kong requires you to demonstrate tax substance. It can be pretty tricky because there are no clearly set guidelines. Company formation services in Hong Kong make it possible for you to understand tax substance and demonstrate it to get a residency certificate.
This will be very useful in reducing the danger of double taxation.
These are only a few of the benefits to expect from the firm you select for company formation services in Hong Kong. With the best agencies, such as GuideMeHongKong, you are also sure of getting help with top executive functions, such as accounting, payroll management, and filing tax returns. It is time to expand to Asia and beyond, and GHMK can help you with every move.