Why Hong Kong?

+ Taxation + + Immigration + + Company + + HK Ship Register + + Legal +

Why Hong Kong? >>

Hong Kong is Asia’s Business Capital.

Hong Kong has the best location and transport links across Asia and internationally.

All of the region’s key markets are within 4 hours flight time, and 50% of the world’s population is within 5 hours flight time.

Hong Kong’s proximity to and close and unique relationship with Mainland China has made it the business gateway to China for more than 150 years.

Hong Kong practices a high degree of autonomy from the Mainland, with executive and legislative powers.

Free movement of capital, talent, goods and information.

Clean government, with a laissez-faire approach to business activities.

English is the language of business in Hong Kong, and many people speak English, Mandarin and Cantonese.

Taxation >>

Hong Kong operates a low and simple tax system.

Corporate profits tax is maximum 16.5%, and personal income tax 15%.

There is no Sales tax, no Withholding tax, and no tax on Capital Gains, Dividends or an individual’s Estate.

International shipping activities are exempt from profits tax, and no profits tax is levied on overseas earnings.

Ship operators are more susceptible to double taxation than other taxpayers due to the international nature of shipping operations. The HK SAR Government has made it a priority to negotiate Double Taxation Agreements with Hong Kong’s major trading partners.

Immigration >>

Hong Kong is a separate travel area to Mainland China. Hong Kong has visa-free entry for visitors who are nationals of over 170 countries and territories.

Generally, foreign nationals must obtain a visa before coming to Hong Kong to live, work or invest. The main types of visas are: Employment; Investment; Capital Investment Entrant Scheme; and Dependent Visas.

There are many international schools in Hong Kong. There are also high standards of healthcare and a cosmopolitan environment.

Company >>

Setting up a company in Hong Kong is fast, easy and inexpensive.

There are different company structures to suit different business requirements. The most commonly used company structure is a Limited Company. Other options include registration of a Branch Office of the parent company, and a Representative Office. Foreign companies can register and carry on business in Hong Kong if that is beneficial to them.

There are no residence requirements for company directors or shareholders, which may be individuals or corporations.

HK Ship Register >>

The fully autonomous Hong Kong Shipping Register is operated by the Government of the HK SAR through the Marine Department, which has over 150 years experience in ship registration, inspection and survey.

The Hong Kong Ship Register is now the world’s fourth largest ship register, and the world’s largest national flag register.

The Hong Kong Ship Register is recognized as one of the world’s top quality registers, appearing on the Paris and Tokyo MOU whitelists and accepted as a Qualship21 register by the US Coast Guard.

The Register allows registration by virtue of ownership or demise charter. Title and mortgage registration is efficient and reliable, and HK ship mortgages are acceptable to all international ship finance banks.

User-friendly, and competitive registration and annual fees.

There are no restrictions on nationality of seafarers serving on Hong Kong registered ships.

Link to Register information

Hong Kong has a well-established common law system based on English law, where the rule of law is upheld by an independent judiciary.

The High Court maintains specialist lists to deal with admiralty and commercial disputes.

Hong Kong has a comprehensive and well-respected Arbitration law, under which the UNCITRAL model law applies to international shipping disputes.

The HK Maritime Arbitration Group, a division of the Hong Kong International Arbitration Centre (HKIAC), maintains a list of Hong Kong residents prepared to accept appointment as arbitrators and mediators for maritime related disputes.

Many leading global maritime law firms have offices in Hong Kong.

Link to Maritime Arbitration Group