Asia is undoubtedly an expanding and dynamic place to do business. Every day the media is reporting on how the economy in Asia is adapting. Hong Kong has so much to offer developing businesses and the entrepreneur. Ideally located and recognised as the economic centre of Asia with easy access to Mainland China. Most key business destinations throughout Asia are between two and four hours away through one of the most efficient airports in the world.
Companies of all sizes are constantly evaluating their strategies, particularly with the current financial global situation. Hong Kong wasnít as exposed compared to the US and Europe, the general feeling within the business community is one of caution. But feel the region should emerge sooner than the west in anticipation of an economic recovery. Hong Kong learned a lot during the SARS period and emerged effectively returning to good levels of economic growth.
Hong Kong is consistently rated as the world's freest economy. Setting up a business in Hong Kong isn't a difficult process compared to other countries. However, due care and consideration must be taken when incorporating. Look at your existing formation; consider what exposure you may have from a legal and accounting perspective. Take professional advice before committing, both in your home country and Hong Kong, it could have broader implications.
Many organisations from large multi-nationals to SME's and entrepreneurs have or are considering having a presence in Hong Kong. With excellent communications, transport, banking and support services infrastructure combined with low and simplified tax system, easy access to China, Hong Kong is the obvious choice. It is possible to incorporate and establish a business on a scalable budget.
There's no reason why any business can't set up a simple representative office with support services from one of the business centre's who will take calls, deal with any post as a virtual office and liaise with the parent company abroad. Should that prove successful, establish a limited company, have a serviced office obtain an employment visa and relocate a member of staff. The whole scenario is scalable and up to the company. Next level could be your own leased office with expatriate and local staff, then a rep office in China if that's part of the business model.
The break point for most businesses is when the cost of frequent visits becomes comparable with having a basic operation set up in Hong Kong; it doesn't have to be expensive. The benefits to existing clients and suppliers become immediate having someone on location to resolve any local issues. Plus the added benefit to explore new business opportunities in Hong Kong and throughout Asia.