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Is Opening an Offshore Business in Hong Kong a Good Idea?

Most people refer to Hong Kong as the springboard to the Chinese Market. Due to its open and dynamic trading market and its historical link to Britain, Hong Kong is a key destination for investors planning to expand their businesses. The business language of this country is English and the legal system is similar to that of Britain.

Therefore, setting up a new business in Hong Kong is similar to establishing one in the United Kingdom market. The strong communication infrastructure, government investment incentives, and good business services have also made it a perfect destination for expansion.

In 2020, most investors held back their investment dreams due to the Covid-19 pandemic. However, everything is now changing. If you are planning to expand your business, Hong Kong should be among your top potential jurisdictions. Keep reading to know why it is the perfect time to invest in Hong Kong.

Hong Kong’s Economy is Recovering from the Effects of Covid-19

The Covid-19 pandemic did not spare anyone, including Hong Kong. Luckily, the country is recovering very fast from the pandemic and it provides many opportunities for business people. Expanding your business to this country is more like boarding a moving train.

Hong Kong’s administration has been working hard to help businesses resume their normal operations. That means you will also enjoy support after opening your business. Carie Lam, the Chief Executive of Hong Kong, unveiled over US$18 billion to help individuals and businesses recover from the effects of Covid-19. The first batch of the stimulus package is already released and we have seen the results.

The economy will recover very fast after the administration avails the second and third business stimulus packages. That is unlikely to happen in other countries where the governments are offering small or no support for businesses and individuals. So, it is time to register your offshore company in Hong Kong.

Hong Kong Offers a Great Opportunity for Businesses that Would Want to Expand to the Far East

Covid-19 crippled many businesses. In other words, more businesses stopped their operations due to a lack of market or forced closure. Now that businesses in Hong Kong are resuming their operations, slow market growth should not limit you. It is time to enter Mainland China and start operations.

Hong Kong is strategically located in the middle of Asia and you will easily penetrate the large China market and other markets in Asia. Besides, it has signed several bilateral trade agreements with the neighboring countries, meaning that you will have a huge ready market. So, you should not limit your growth potential by focusing on Hong Kong alone. The neighboring countries offer a large market.

You can Register Your Company without Traveling to Hong Kong

One of the biggest obstacles that entrepreneurs working to establish their offshore businesses encounter is the complicated company registration process. A quick example, some jurisdictions take very long to approve a company and others require the investors to deal with many departments.

The process of registering a company in Hong Kong is different. The administration allows agencies to help investors complete the registration. So, you can register your company without traveling to Hong Kong. That should sound great.

If one of your goals is to open an offshore company in Hong Kong, this is the right time for you. Hong Kong’s economy is recovering from the covid-19 effects. Therefore, you will benefit from the support the Hong Kong administration is offering to individuals and businesses.

Work with an agency of experts to complete your company registration in Hong Kong. After the registration is complete, you will enter the market easily and even expand to the neighboring countries.

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