Special Administrative Region of Hong Kong is located on the Southern coast of the People's Republic of China, its territory amounts to 1,105.7 square kilometers. Hong Kong borders PRC and has access to the South China Sea, which allows it to establish maritime trade with all major Asian region states, with India, Russia, Australia and New Zealand. Hong Kong has a population of 7,3 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 0%, if income is received outside of Hong Kong, otherwise the standard tax rate is 16,5%
- Dividend withholding tax - 0%
- Interest withholding tax - 0%
- Royalties withholding tax - Standard tax rate 16,5%
- Capital gains tax - 0%
- VAT - 0%
- Personal income tax - from 2% up to 17%.
The following are the most common types of companies to incorporate a company in Hong Kong as:
- Limited Liability Company
- Public Limited Company
- General Partnership
- Limited Partnership
- Branch office.
Official currency of Hong Kong is the Hong Kong dollar (HKD).
Hong Kong GDP in 2017-2018 grew by 3,5% and amounted to USD 453 billion.
Hong Kong economy is dependent on international trade and international finance. In Hong Kong all imported goods are not subject to customs duties with the exception of strong spirits, tobacco, hydrocarbonated oil and methyl alcohol. Hong Kong is strongly dependednt on the import of fossil fuels and food products. Continental China remains the main trading partner of Hong Kong, its shared turnover makes up half of Hong Kong total turnover.