The Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong SAR) is a former British colony, located in Southeast China. It is formed by a peninsula and several islands located on the south coast of the South China Sea, in the Pearl River Delta, 100 km southeast of the city of Canton and east of the Macao Special Administrative Region. It has an area of 2,755 sq. km, where currently live more than 7 million people. Its official languages are English and Cantonese.
Although it is part of the People’s Republic of China, the region maintains an independent economic, administrative and judicial system, and even its own currency, system of customs and external borders. Its official legal tender currency is the Hong Kong Dollar (HKD), the ninth most traded currency worldwide.
Hong Kong is a vibrant, densely populated urban center and is a major port and global financial hub with a skyscraper-studded skyline. Its economy is mainly based on services, being financial services one of the main sectors. Despite of its small size, Hong Kong ranks eleventh worldwide in volume of banking operations and the Hong Kong Stock Exchange is the second largest capital market in Asia, after the Tokyo Stock Exchange.
This jurisdiction has one of the most competitive and laissez-faire economies worldwide. Characterized by simple taxation with a competitive level of corporation tax. Supported by a legal system derived from the Common Law, which is very scrupulous in respect of private property. An independent judicial system in which the rule of law applies to legal and contractual procedures. In addition, there is also a great facility to establish companies and move capitals from Hong Kong abroad.
At Flag Theory, we find the best locations globally to strategically diversify your business and personal finances to increase your privacy, freedom and wealth. Below, you can learn about why and how to set up a company in Hong Kong, banking options available, investment opportunities and how to get residency and even a HK passport in this Special Administrative Region of China.
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