Countries compete in order for you to locate there and make their country the home of your business. The overall competitiveness depends on many factors, such as speed of processing applications from Companies House, ease of obtaining a bank account, rule of law, transport connections, online connectivity, as well as the suitability of office, housing and social infrastructure. Certainly the tax rate is an important factor. Hong Kong allows us to benefit from low corporate tax rates, which is another advantage of becoming a Hubconsult Member. Unless your business is carried out in Hong Kong itself, your business is free of Corporate Tax and VAT. Isnàt that a better place to start.
That doesn’t mean you are not liable to personal tax – well we can’t do everything! But with CT and VAT out of the way, contributing to your local an national community with your personal tax should become a simpler story.