Hong Kong is an ideal place for businessmen who want to do business in the Asia-Pacific region. This jurisdiction is very business friendly. This time he took 4th place in the ranking, gaining 84.22 points (+0.04 compared to last year's report). Consider some of the features of Hong Kong that helped him occupy one of the leading positions:
Hong Kong is used as the “gateway to China” and the rest of Asia, as Hong Kong companies are provided with special conditions for access to the Chinese market.
According to the Financial Complexity Index 2018 rating compiled by TMF Group, in the entire Asia-Pacific region in Hong Kong it is the easiest requirements for accounting and tax compliance.
By the ease of creating a business, Hong Kong took 5th place among 190 countries - in 1.5 days you need to complete only 2 procedures, and this will cost 1.1% of per capita income.
Hong Kong does not have most of the taxes common in other countries (such as VAT and capital gains tax). With respect to income tax, a two-stage taxation system is in place - 8.25% on the first 2 million Hong Kong dollars of profit, and 16.5% on everything else.
The territorial principle of taxation applies - income tax is levied only on income that was earned directly in Hong Kong; income derived from activities in other countries is exempt from taxation.
The government is constantly introducing various benefits and incentives for business. For example, a new law on tax deductions for R&D has recently been passed.
Hong Kong ranks first in the ranking of countries in terms of economic freedom according to the American analytical center Heritage Foundation.
Lack of corruption.
More information here - https://www.worldbank.org/
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