Hong Kong companies are not always what many people expect which are companies who are physically based there. Often they are companies from other parts of the world who have just registered themselves there. In theory these companies can be set up and physically operating from any part of the world, however a lot of these offshore Hong Kong companies are physically based in the United Kingdom.
Why People Set Themselves Up as Hong Kong Companies
There are many reasons why people decide not to register their companies in the UK choosing to do so offshore instead. The main reason is that doing so allows them to pay far less tax than they would if they were registered in the UK. However, Hong Kong has got far more to offer than just that.
The biggest advantage to registering yourself in Hong Kong is the freedom to trade in practically any product. Hong Kong has a reputation for being one of the freest market economies in the world, and is certainly very lightly regulated in comparison to many other market economies.
Most people in Hong Kong speak exceptionally good English, which for companies from the UK is a distinct advantage. Most offshore companies have to have a bank account in Hong Kong, and being able to deal with your Hong Kong bank in your native tongue makes things a whole lot easier.
Setting up a business in Hong Kong requires no capital investment. There is no problem with being appointed as the director of your Hong Kong registered company meaning that you are in total control.
How to Set Up Hong Kong Companies
Setting up and running Hong Kong companies is not difficult, however if you have never done it before it can still seem daunting. It makes sense to use the services of an offshore formation service that has experience of registering your kind of UK business in Hong Kong. You can find quite a few with just a simple internet search, but take your time and choose the company you use carefully. The more experienced they are the better it is for you.
Offshore Formations 24/7 have set up thousands of Hong Kong companies over the years. Their years of experience mean that you can trust them to do a good job for you.