According to the World’s Bank Doing Business Index, Hong Kong is the fourth easiest place to do business in the world. Thus, a one-sentence answer would be- yes, you have a great idea if you are thinking of a business takeover in Hong Kong.
In this article, we look at all the reasons why buying a business in Hong Kong is totally worth it.
Finding Business for Sale is Easy
Hong Kong has more than a hundred thousand businesses and finding a company to buy is simpler than in other places around the world. All you need to do is connect to a good business advisor, and they will help you find a small business for sale. Furthermore, completing the legal paperwork after the acquisition is simple as well.
Favourable Tax System
The corporate tax rate is only 16.5%. Hong Kong doesn’t have any capital gains tax and offshore income tax. Additionally, the autonomous region has no Value Added Tax (VAT) and GST. The property and salary tax stand at a mere 15%.
An Ever-Flourishing Economy
Almost no corruption happens in Hong Kong. The law is very transparent, and with the regulations, we can say the system of governance is very business-friendly. Furthermore, Hong Kong has almost all the resources that you need; modern-day facilities and skills to help you scale your business.
Strategic Geographical Location
Hong Kong has been the gateway to Mainland China for the last 150 years. Export to China is tariff-free. Sea trade is always flourishing in the region, and the Hong Kong International airport has been connected to 180 international cities across the world. In other words, you can export and import to almost every country if you buy a business in Hong Kong.
Simple for Foreigners
Hong Kong government has made sure that it is as simple for foreigners to do business in the region as for the locals. Registering for the licenses is easy, and getting a visa is also straightforward with no politics involved. Rather, there is a separate department called INVESTHK to support direct foreign investments. If you have a good idea, then the sky is the limit.