Over 130,000 new local companies to be formed in Hong Kong in 2023, a five-year record high!

In recent years, many overseas investors and mainland entrepreneurs have chosen to set up companies in Hong Kong toRealize the goal of diversified development, enhance the international image of the enterprise, and then enhance competitiveness.

According to the statistics released by the Hong Kong Companies Registry on January 15, in theTotal number of new local companies formed in 2023 is 132,246. The total number of local companies registered under the Companies Ordinance at the end of 2023 was 1,430,758.39,080 rooms over 2023.

In 2023, a total of 960 non-Hong Kong companies established a new place of business in Hong Kong and were registered under the Companies Ordinance. The total number of registered non-Hong Kong companies stood at 14,826 at the end of 2023, compared with the same period a year earlier.Add 2.02%.

It can be seen from the data that Hong Kong is the preferred location for the development of enterprises and investors, and these enterprises have chosen Hong Kong thanks to the fact thatHong Kong's business environment and the convenience of Hong Kong accounts.01
Advantages of registering a Hong Kong company

The number of Hong Kong company registrations has shown a sharp increase, this phenomenon is mainly due toA Hong Kong company has many advantages.

1. Wide range of business scope of Hong Kong companies

Hong Kong is known as the world's freest port for trade and commerce and, in principle, is not the only port in the world that has the highest degree of freedom of movement.No significant scope of business restrictions.

In Hong Kong, businesses canEngaged in various types of business(e.g. financial investment, healthcare, shipping, import/export trade, real estate, construction, decoration, information networks, textiles, tourism, colleges, culture and publishing, associations, research institutes, and high-tech industries).

2. Hong Kong companies have fewer tax items and lower taxes

Hong KongThe tax system is based on simplicity and lower tax ratesboth (... and...)Single tax typeKnown for.

For Hong Kong companies, they can apply for tax exemption if their source of income is outside Hong Kong.

The amount of tax a business is required to pay each year is limited toprofit taxOne item, the tax rate usually ranges from 8.251 TP3T to 16.51 TP3T.

If the enterprise does not carry out local business activities and does not make a profit, no tax is payable.

3. Freedom of trade/financial access

Hong Kong enjoys a high degree of freedom not only in the flow of people in and out of the territory, but also in the flow of goods in and out of the territory, as well as the flow of capital in and out of the territory.

This free body is nowHong Kong's lax foreign exchange controlsThe various types of foreign currencies can be exchanged and mobilized at any time, and there are no restrictions on the entry and exit of funds.

4. Building an international brand image

Hong Kong asglobal financial center (New York City)The company is extremely competitive and attractive.

Setting up a company here will not only helpEnhancement of corporate imageThe newest addition to the list is to make it even morereliabilityIt can also help companies with globalcityField Expansion.

In addition, registration of a Hong Kong company facilitates the application of international trademarks and barcodes, and provides convenience for the international flow of goods.

5. Simple registration and easy maintenance

To register a company in Hong Kong, you only need to provide the relevant information of the shareholders in Hong Kong to complete the registration process smoothly.

Hong Kong CompaniesThe maintenance process is quite easyThe annual audit and tax filing are conducted once a year, which is conducive to the sound operation of the company.

6. High credibility of Hong Kong companies

Hong Kong has an excellent reputation in the international business arena for itsWell-established legal system, well-developed financial marketsas well asEfficient government governanceIt provides strong support for the company's reputation and business expansion.

7. Flexible corporate structures

The Hong Kong Special Administrative Region upholds an open-door policy.Licensing global investors to set up all types of businesses.Such as private limited liability companies, public limited liability companies, branches, and joint ventures to cater to various business requirements.

8. Overseas financing and listing of companies

Hong Kong has a well-developed banking and financial system and a liberal financing environment.Relatively easy listing conditionsThe registration of a Hong Kong company is conducive to the development of overseas markets.

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Suitable enterprises for Hong Kong company registration

1. Enterprises interested in overseas listing

As listing on the mainland is more stringent, complicated, expensive and lengthy, a typical strategy is to register a Hong Kong company to hold a mainland enterprise, thus listing in Hong Kong in a roundabout way.

Hong Kong has a diversified investor base, including domestic and overseas sovereign funds, pension funds, various types of institutional investors and high net worth individuals, which is conducive to theOptimization of corporate shareholding structureThe

2. Enterprises seeking to expand their international trade operations

The cost of foreign exchange transactions is higher for mainland banks. As an offshore company, a Hong Kong company is allowed to carry out offshore business operations in the Mainland, which can be realized through offshore bank accountsFree flow of funds and transfer of foreign currencies at any timeThis will reduce the tax burden, facilitate the receipt of foreign exchange and maximize the benefits.

3. Enterprises wishing to build overseas brands

Hong Kong has the strength and potential to develop into a strong international brand in the eyes of the international business community. Registering a company in Hong Kong isRapid brand buildingAn effective way of doing this.

In addition, some people have registered Hong Kong companiesApplication for Hong Kong IdentitymaybeRenewal of statusAfter registering a Hong Kong company, you can obtain your Hong Kong status by re-employing yourself. After registering a Hong Kong company, according to the requirements of the "Admission of Mainland Talents and Professionals Scheme", you can get the Hong Kong status by re-employing yourself, and people who come to Hong Kong under the Hong Kong Talents and Professionals Scheme (Talents and Professionals) can also renew their visas.Self-employment renewal through a registered company.

If you have the needs of registering a Hong Kong company, opening a Hong Kong account, planning your Hong Kong identity, etc., please feel free to contact Timeless Group for more details.