Hong Kong, located strategically, is known for being the global business city & financial center for the business entities. Most of the investors & business owners are considering for hong kong company setup.
The company formation is a process to register the business as limited company. When it happens, business becomes the distinct legal entity; individual ‘person’ in eyes of a law. Besides, it means that company is totally separate from the owners in the terms of liabilities, finances, contractual agreements, as well as ownership of the property & assets.
When incorporated, the companies need to adhere to the strict accounting practices & reporting requirements. Most of the corporate details will be placed on the public record that will ensure complete disclosure & transparency for benefit of public. It is one main reason why you must look for formation of company in hong kong rather than running your business as sole trader.
Your next benefit to form a company is that this takes very less time when compared to the Chinese enterprises. Transparency, law, as well as orders are quite central to the success of Hong Kong. Legal system here is totally separate from the Mainland China’s, and English law prevails.
The government institutions in Hong Kong are consistent & straightforward about the various requirements to set up the business entity. Alternatively, rules & regulations will change abruptly & unexpectedly in China, and making it important to have the team on ground, which is checking up on the application & actively pushing this ahead.
There’re many benefits of opening up the company, but at an end of a day, most of the reasons conclude to just one thing. Setting up your business, you will expect only the best & highest levels of business success.