You plan to open an internet-based company but are unsure where to register it. Hong Kong is already a significant global business hub, but is it a good choice for e-commerce?
The answer is yes, and this article will discuss why. Our experts singled out the top benefits of registering your e-commerce in Hong Kong. Here is why it’s wise to start your company in this country!
The Number of Internet Users in Hong Kong
According to a report published by Statista, Hong Kong has an e-commerce market with steady growth. The internet use in this country is also impressive. There are more than 31,000 hotspots, and that implies the internet is widely available. Apart from local customers, that means tourists can easily find a stable internet connection to visit your business site.
Friendly Business Regulations
Hong Kong is famous for its free and regulated market. The corruption is at a low level, and the laws are business-friendly.
The tax regulations are also favorable, especially to e-commerce businesses selling online. If you sell to foreign-based customers, you aren’t subject to paying corporation tax. Hong Kong also doesn’t have a capital gains or estate duty tax.
A Simple Banking System
You don’t want to spend hours waiting in rows at banks. You need a reliable and straightforward banking system, and you’ll get that in Hong Kong. It has the majority from the 50 most famous international banks. It’s easy to open an account, use e-banking services, and you can also take advantage of many start-up solutions for new entrepreneurs. However, it’s necessary to have a legally registered business to use their banking services.
As an alternative to the conventional banking system, there’s also a fresh sprout of a banking system called neobank, run by fintech companies. One of the popular neobank is Neat Bank, a mobile banking startup. It allows its users to set up an account in merely 10 minutes through the app. Upon this, users will receive a prepaid account as well as a prepaid Visa Card.
A Huge Number of Successful E-Commerce Brands
Successful companies are the best indicator that Hong Kong offers a pleasant environment for e-commerce businesses.
We are sure you already know some names, but here is an overview of the most successful e-commerce brands:
Gobuya.com. The company offers an innovative shopping system with daily deals that change regularly.
Craftyful.com. This brand focuses on offering craft supplies. Their selection is impressive and affordable.
Grana. This fashion brand sells wardrobe essentials via its online store.
Related Read: How Does a Foreigner Start up a Business in Hong Kong?
HKCR Can Help to Register an E-Commerce Company
Hong Kong has laws friendly to entrepreneurs who want to open e-commerce businesses. However, registering a company still takes time and effort. HKCR can ensure you do everything by the book. We have years of experience in helping business owners register their e-commerce brands in Hong Kong. Don’t hesitate to contact us today to initiate the company registration process!
Frequently Asked Questions in eCommerce Registration in Hong Kong
- Can foreigners register a company in Hong Kong?
- Yes, but it’s not possible to do so on your own. You need a local team of experts to help with the incorporation, including securing a registered address in Hong Kong. Don’t hesitate to contact HKCR because we can help you to open a company in Hong Kong effortlessly!
- What’s the minimum paid-up capital necessary to open a company in Hong Kong?
- You only need HKD1.00 to start your e-commerce business.
- Are e-commerce brands in Hong Kong legal?
- Yes, the country has business-friendly laws and regulations.