According to data released by the Hong Kong Census and Statistics Department, the number of companies based in Hong Kong increased by 10% in 2024, reaching a total of 9,960. The number of startups in Hong Kong also rose to 4,694, both new records. Hong Kong continues to be an ideal place for both domestic and international companies to establish or expand their businesses.
Mainland companies in Hong Kong continue to hold the top position, further proving that Hong Kong is the preferred platform for Mainland businesses to "go global." The number of companies from overseas is also steadily increasing, and Hong Kong's business-friendly environment continues to maintain its unique advantages and appeal, bringing vast opportunities to businesses.
The Freest Economy
Additionally, according to the 2024 World Economic Freedom Report, Hong Kong has again been ranked as the freest economy in the world. Hong Kong ranks among the top three globally in areas such as international trade freedom, regulatory environment, and sound monetary policy. It can be said that 2024 is an excellent year for Hong Kong's economic performance.
How to Register a Company in Hong Kong?
Hong Kong is well-known for its business-friendly environment, including low tax rates, no foreign exchange controls, and its status as an international trade hub. These advantages help businesses enhance their brand influence and expand into overseas markets.
Therefore, a large number of both Mainland and overseas companies have chosen to register their businesses in Hong Kong. Below is a basic overview of the process for registering a company in Hong Kong:
Can I Obtain Hong Kong Identity by Opening a Company in Hong Kong?
No Need for Hong Kong Identity to Open a Company
You do not need to have Hong Kong identity proof to register a company in Hong Kong. As long as the business complies with Hong Kong’s legal regulations and all required registration documents are submitted, the company registration can be completed. Additionally, once the company is registered, you can open a bank account for the company without any identity restrictions.
Opening a Company Helps with Applying for Hong Kong Identity
Owning a well-established company in Hong Kong can indeed help with applying for Hong Kong identity. Below are common application routes:
Quality Migrant Admission Scheme: For skilled talents, applicants need to have outstanding academic or professional achievements.
Top Talent Pass Scheme: For top global talent, offering a fast-track entry route.
Moreover, owning a Hong Kong company significantly aids in the renewal of visas and applying for permanent residency. It can demonstrate the applicant’s business development and economic connections in Hong Kong, thereby strengthening the Immigration Department’s confidence in the applicant’s establishment in Hong Kong, which is more favorable for applying for permanent residency.
Conclusion
In 2024, Hong Kong continues to attract a large number of Mainland and overseas companies, thanks to its excellent business environment and international standing. For Mainland entrepreneurs, opening a company in Hong Kong not only offers tax incentives and global opportunities but also serves as an important step in applying for Hong Kong identity.
If you plan to open a company in Hong Kong, feel free to contact Oceanus Strategic. Our team will provide professional advice. In the future, we will also publish more interesting articles, so stay tuned.
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