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.
What to consider when structuring an E-commerce Business E-Tail, E-commerce, or online sales businesses are a common business activity we deal with when consulting for a new corporate structure at Flag Theory. There is a
Where to set up an Intellectual Property Holding Company Utilizing an intellectual property holding company is one of the most common legal tax avoidance strategies out there. However recent measures by the OECD and EU
How to protect and structure an Intellectual Property Business A few weeks ago, we talked about certain key aspects to consider when structuring a holding company, as well as reviewed a number of jurisdictions that
International Tax Landscape shake-up for Multinational Businesses During the last weeks, we have been writing and reviewing significant amendments to corporate laws and tax laws in offshore jurisdictions to satisfy their commitments made pursuant to
Where to set up an international business - Part 2: Asia Flag Theory Weekly Letter – Friday, November 23rd, 2018 In the previous article, we discussed how international businesses can take advantage of structuring opportunities
Preserve your wealth investing in gold and other precious metals Gold and other precious metals have always been a way of storing value throughout human history. In ancient Egypt, gold was already used as an
Where and how to open an international bank account Today let’s dive into where and how to open an international bank account and what you should consider when designing your offshore banking strategy. A large
Why you should consider opening an offshore bank account Today I am going to explain to you why you should consider diversifying your cash assets offshore. Even though offshore banking has had bad press, there
What is the best offshore jurisdiction? We've already discussed why corporate structures using offshore companies are powerful tools to legally minimize your obligations to governments, protect your assets, enhance your privacy and grow your business
What you should consider when designing your Offshore Strategy Today we discuss why offshore companies can be powerful tools to protect your assets, optimize your business and drastically increase your net profits. Why your Tax
What are the world's safest banks and how to evaluate them Last week Italian’s government agrees to bail-out (again) Banca Popolare di Vicenza and Veneto Banca with €17 billion. Another case of bank collapse in
Complete list of countries to obtain citizenship by naturalization Most countries around the world allow for persons who have lived in-country for a certain period of time to apply for naturalization. It's only human, really,
How to buy gold and where to store it This article has been updated in October 2019 to reflect new economic data. Why buy Gold? The ultimate storage of wealth. Non-perishable, accepted worldwide. Cannot be