A new partnership between SuperCharger, a fintech accelerator, and Lattice 80, a global fintech hub, have signed a partnership that will act as a link between Hong Kong and Singapore startups in the fintech industry. The aim is to allow these types of companies in Hong Kong and in Singapore to share a network as well as relevant mentorship programmes.
The Innovation and Technology Venture Fund in Hong Kong (ITVF) is a co-investment programme with the Government, designed to encourage investment in local start-ups in these two particular business fields. The Government has recently released a draft law that establishes a clear regime for maintaining the profits tax exemption for those venture funds that choose to co-invest in this program. Our lawyers in Hong Kong highlight the main provisions of this draft law and how it will apply to the ITVF.
A rise in consumer sentiment in Hong Kong also meant that retail sales recorded an increase during the first month of 2018. Total retail value increased by 4.1 percent on a year on year basis and it was linked to the celebration of the Chinese New Year. Our team of attorneys in Hong Kong talks about the main aspects of the retail sector and how it performed at the beginning of 2018.
Hong Kong’s gross domestic product (GDP) and gross national income (GNI) rose by 7 and 8.5 percent during the second quarter of the year, according to data released by the Census and Statistics Department. The Hong Kong Government already predicted a stronger GDP growth, driven by an increase in consumption and investment. If you want to explore the opportunities in the city, our lawyers in Hong Kong can give you all of the information needed about starting a company in the city.
Hong Kong expands its tax treaty network adding a double taxation treaty with Saudi Arabia. The agreement will enter into force once both jurisdictions submit their ratification and will be beneficial for foreign investors in Hong Kong from Saudi Arabia and vice versa. One of our lawyers in Hong Kong can provide you with additional details on how this agreement can help you with taxation matters if you are an investor from Saudi Arabia.
According to a recent survey, the business conditions in Hong Kong are improving at a faster pace than ever before. The evolution seems to be due to an increased demand for Hong Kong-source products and services. Companies in Hong Kong are hiring more employees and report higher purchase activity. One of our lawyers in Hong Kong can give you complete information if you are interested in investing in the city.
Hong Kong officials are considering introducing a new tax relief for small and medium sized companies, at the same time allowing for more tax deductions for research and development activities. Carrie Lam, Hong Kong’s new Chief Executive, made the proposal. The current tax regime in Hong Kong does allow for some tax deductions, however, not of this type. Our lawyers in Hong Kong can give you complete details on the tax law changes in the city.
Hong Kong and Australia have initiated a series of negotiations for a potential free trade agreement. This step is believed to increase access to the Hong Kong market and will provide numerous advantages to exporters, investors in Hong Kong and various other service providers. Our lawyers in Hong Kong can help you with information on these talks and what the agreement could mean for investors, from a legal perspective.
Hong Kong’s gross domestic product is expected to increase to 2.4% in 2017, a notable difference from the initially predicted 1.8% growth. Analysts attribute this growth to an increase in consumption, the development of particular business fields but also the positive evolution of influencing economies like that in China. The team of experts at our law firm in Hong Kong can give you a complete insight into the requirements for investments in this market.
Hong Kong’s new Chief Executive firmly believes that the city must maintain its competitive advantage through a low and simple tax regime. Carrie Lam addressed the issue of a new tax reform during one of her first speeches after being elected. She said that additional tax breaks for R&D expenditure and other beneficial changes are planned for the tax system. The experts at our law firm in Hong Kong can help you with tax law issues should these changes influence your business in the city.
Hong Kong’s 2017 Budget addresses a few key areas and is set on encouraging business, improving the labor market and encouraging certain business sectors like construction. With several tax measures already on the way, Financial Secretary Paul Chan believes that these measures will add up to create a good outlook for Hong Kong’s economy in the current year. Investors in Hong Kong interested in how these changes will affect them can talk to an expert at a law firm in Hong Kong.
John Tsang’s proposal for a two-tier tax system for small and medium companies in Hong Kong is believed to be a good proposition by leading financial experts. The chief executive contender recently released its tax proposals that would ease the burden on small and medium companies (SMEs). Should the system be implemented, experts believe that it would prove to be an important advantage in Hong Kong’s overall competitiveness as a business center in the Asia-Pacific region. The experts at our law firm in Hong Kong highlight the most important current tax breaks and how this change could influence your business.
In this article, our lawyers in Hong Kong would like to present four tips for entrepreneurs who want to open a Hong Kong company.
Small and medium sized businesses in Hong Kong are represented by enterprises with less than 100 employees for manufacturing ones and less than 50 employees for non-manufacturing organizations.
As a major international business center and one of the most reputed financial havens in the world, Hong Kong welcomes many expats yearly who come to experience the famous business hub of Asia.
Hong Kong is a city that offers multiple options for investment and for doing business. While it is well-known for being a business and financial center, not all companies in Hong Kong operate in the financial or banking sectors. The services sector is very well developed as well and entrepreneurs can start a small business while benefiting from the tax friendly system. Our attorneys in Hong Kong present some simple ideas for a small business in the city.
There are no current plans to introduce a departure tax for Chinese nationals who travel by land from Mainland China within the same day. The measure was discussed as a solution for those who were taking advantage of the multiple-entry visa applicable to Chinese nationals. Chinese travelers to Hong Kong have to comply with a special set of rules. One of the experts at our Hong Kong law firm can give you detailed information if you are a Chinese businessman who owns a Hong Kong company and needs to make frequent trips to the city or if you otherwise need to travel in same-day-trips.
The growth of the office market rent sector has been closely linked to the positive evolution of the value-added service sectors. Companies operating in this field have the highest demand for Grade A offices in Hong Kong Central. The growth of these high-value service sectors seems to have an even highest impact than the overall evolution of the economy, shows a study from Colliers International. Investors who open a company in Hong Kong prefer to locate in in the business district but other options are becoming available as real estate projects are being completed across the city.
Hong Kong is able to boost its total number of tourists following some simple changes in tourism, namely the types of visas it issues for foreigners. A study performed by CSLA, an international investment group focused on the positive changes Hong Kong and Macau can implement in order to boost tourism and revenue from foreign visitors in the two regions. Our lawyers in Hong Kong can give you more information about this business industry and the legal requirements that need to be fulfilled in this sector.
Hong Kong is included in the top ten countries that managed to maintain a steady improvement of their regulatory regime, according to the World Bank Doing Business report 2017. The policies implemented by the Hong Kong Government have made a positive difference and the city was able to maintain its position as one of the best investment centers in Asia, along with Singapore.
Hong Kong received first place in the annual ranking issued by the Fraser Institute regarding economic freedom. The Global Freedom Ranking surveys the situation in 159 countries in order to establish how different factors like regulations and the size of the Government influence the economic development and freedom in that country. Investors in Hong Kong are favored not only by a low taxation regime but also by welcoming laws and regulations.