Terms and conditions for Hong Kong h1>
Today, the key idea-fix on the opening of its business on the Internet is the sale of Chinese goods in Russia. However, there is a reverse possibility – you can start selling Russian products in China and Asia, opening your office in Hong Kong.
Why Hong Kong and why now.
Hong Kong is the world financial center and a key portal in the Asian economy. At 6 o’clock in the summer, 2/3 of the total population of the globe is concentrated from Hong Kong, which allows access to the entire global market. And in itself, Hong Kong is a tasty morsel for companies focused on selling their services and products to middle-class people. And the integration processes of the Shanghai and Hong Kong exchanges will attract a new wave of foreign investments into the city’s economy, which this special economic zone is already famous for.
OPENING BUSINESS IN HONGKONG IS A QUICK, QUICK, SIMPLE AND UNRELIABLE PROCESS. NON-SIDEDLY HE HEADS MANY RATINGS, INCLUDING THE SIMPLE BUSINESS CONDUCT ON THE VERSION OF THE WORLD BANK.
Moreover, the Hong Kong government has set itself the goal of turning the city into a high-tech center, especially from finance and medicine, and in every way supports such innovative companies, including foreign ones, providing grants, benefits and other types of support and preferences for the speedy introduction of new technologies in the economy of the city-state. One such program is the StartmeupHK Venture Program within the InvestHK investor forum, which is conducted by the Hong Kong government.
Current unrest and future prospects.
Despite the student riots and rallies, business is developing. It is significant that in the place of the congregation of protesters spontaneously formed markets and trade tents, in which brisk trade is conducted by local residents. However, the general trend of the city’s development is further liberalization of the economy and the political sphere.
Cross-cultural community of entrepreneurs.
For a whole century, Hong Kong was an enclave of the British Empire in Asia, so today most people here speak English fluently, they also follow the principles of English law and adhere to the classic European dress code. At the same time, Chinese culture is also closely intertwined in the spirit of this city, traditional Chinese shops frame the foot of the towering skyscrapers of glass and concrete. All this in the end creates a unique cross-cultural community with a strong entrepreneurial culture, hospitably welcoming foreigners from all over the world. Not surprisingly, there are dozens of coworkers, business accelerators, technoparks and incubators for 7 million inhabitants.
City of winners.
Winners are loved by everyone, but in Hong Kong this phrase is sewn into business turnover at the most basic level. For the winners open all the doors and opportunities, people meet and help those who have succeeded and escaped forward.
The victory of EasyFinance in the “Fintech” category and the receipt of the StartmeupHK Special FinTech Award rewarded the support of the Hong Kong government and access to the leadership of the leading financial corporations, whose headquarters are located there. In addition, free access to the innovative infrastructure of local technology parks has automatically appeared.
Choosing a company name.
Although winning an innovation competition and providing significant preferences in opening and running a business, it is not an exceptional condition for a successful start in Hong Kong.
To begin with, you should choose the type of company and its name. The most popular type are limited liability companies, official representative offices and subsidiaries of foreign companies. To register a company, you need to verify the uniqueness of the name on the company’s registry in the Companies Registry’s Cyber Search Center.
In Hong Kong, there are no requirements for the company’s capital, but this does not cancel the requirement for the presence of shareholders or owners, as well as a director and secretary, who must be at least one company in the company. This does not mean that the owners or director should be residents of Hong Kong. However, the secretary must be a resident, be he a company or a natural person, on which the accounting functions are concentrated.
Registration of the company follows the principle of a single window in the Register of Companies, where in the end they issue certificates of incorporation and registration of business. Moreover, if the application is completed online, the certificates are issued within 1 hour, if in paper form – for 4 working days, and for the registration of companies with limitation of liability under the guarantee – within 3 weeks.
Opening of a bank account.
You can open an account immediately upon receipt of registration certificates, however, the timing and list of documents for opening depend heavily on the type of your enterprise and the particular bank.
It should be noted that Hong Kong is an international financial center, and therefore all leading financial corporations are represented there, therefore, there will be no shortage of various financial structures.
Rent of premises.
The office arena is usually for 2-3 years with the right extension. Moreover, the conditions are the same for both local and foreign companies. The developed transport infrastructure allows to choose an office both in the center and on the outskirts, and at the same time not to experience problems with logistics.
The price level is the same as in Moscow, and accommodation in technoparks or coworking (Cocoon, Hive, Loft or Cyberport) is even cheaper.
Immigration and visa control.
Hong Kong is a special tourist area, separate from mainland China. Therefore, residents of more than 140 countries, including Russia, are given the opportunity to visa-free stay from 14 to 180 days. For Russia, this period is minimal, but even it allows you to properly conduct your business trip and prepare a foothold for the subsequent move.
However, for a full-time work and life in the country, Bruce Lee needs a visa. In addition, anyone over 11 years of age who intends to reside in Hong Kong for more than 180 days must apply for a Hong Kong ID card within 30 days of arrival. It is issued free of charge by the Migration Board.
Hong Kong attracts foreign companies from around the world, including from Russia. One of such companies is a boutique of fashionable clothes haute couture (from French – “high fashion”) Tissura.ru. In addition to luxury clothing from Europe, the boutique successfully promotes the entire Pacific region and Hong Kong designers.
On the other hand, with all the advancement of local financial institutions, the system of personal finance management from EasyFinance.ru has attracted a lot of interest both from investors and bankers, because with all the diversity of payment instruments and technologies, the need for a management tool only increases.
Examples of these two completely different companies show that we have competitive firms in the country – they have only to declare themselves on the world stage.