The two Asian business powerhouses Singapore and Hong Kong, offer a variety of qualities to attract foreign investment and enterprise formation. Singapore advertises excellent international logistics and a strong economy despite an uncompromising regulatory climate. Hong Kong has a less-rigid business climate, driven tax rates and it’s the gateway to China’s market.
Both offer any level of living conditions you are looking for. Singapore is more family-friendly with a diverse culture, world-class education, and safety. Hong Kong will solicit those who prosper in a more vigorous business and living environment. Which will attract and retain you as your company goes global?
The pair also offer access to ASEAN, corporate company formation, and tax opportunities with ongoing compliance transparency. Hong Kong offers tax exemption on interest, dividends, property, all non-HK sourced funds, and no VAT on imports. Your business tax compliance is a priority for their government because it is the economy.
If your production is going global, moving your manufacturing closer to resources is important. One major resource is labor and Hong Kong has high-quality manpower. Hong Kong has a high level of education and training to prepare your workforce. Click here for ideas to drive traffic to your website.
The air and sea cargo facilities are among the best in the world, giving you easier access to the materials you will need. All of these factors contribute to vast employment opportunities. Not everyone is starting a new technology, design, or innovation company, although data privacy and intellectual protection favor the sector.
Easy estate and succession planning are supported by a good healthcare system when those times are faced. Protect your legacy with confidence. Companies are formed easily and personal privacy laws are also strong.
The tax laws, privacy protection, logistics, and transportation infrastructure are strong. Taxi, ferry, rail, bus, and tram form one of the world’s safest and most efficient travel models. If you need a holding company, e-commerce start-up, import, through-port, or export enterprise even the government encourages you.
Knowing where to find information is important. Use the business consultation services and foreign business funding and investment plans offered by Hong Kong. Their website is also a data collection point for all trade and industrial organizations. Build your network of contacts.
The crime rate is lower than Singapore and has been decreasing, whereas Singapore has been on the rise in the last three years. Housing is cheaper in Singapore but living is less expensive in Hong Kong. Wages are higher in Singapore on average, but sector-dependent.
The Chinese spoken in Hong Kong tends to be Cantonese and Singapore Mandarin. After 1842 many workers and merchants moved to Hong Kong from Canton driving the language since. Singapore views Mandarin as a language bridge for the various non-Chinese-speaking communities.
Both attract vibrant expatriate communities with culture and access to nature. The quotes “You can leave Hong Kong but it never leaves you” and “Singapore has held a place in my heart” tell me that both will capture you and become part of you.
