Travel to HongKong

Hong Kong is a renowned global business city, especially as a centre of financial markets.  After New York and London, Hong Kong is recognized as the third largest financial hub in the world and this could improve further after Standard & Poor's rating for HK was improved to the highest triple A level rating.  With a per capita GDP of approximately US$32,000 (IMF 2010 / current prices), Hong Kong's results are similar to that of the European Union and ahead of many larger nations.  Considering the importance of the financial sector to HK's economy and the impact of the financial crisis, demonstrates why Hong Kong is a popular and valuable jurisdiction.

1. Social and Political Environment

Hong Kong holds impressive rankings in global business surveys such as being the most business efficient and the 2nd most economically efficient in the world (IMD World Competitiveness Yearbook). Hong Kong is also ranked as the 13th least corrupt country in the world (Transparency International – Corruption Perceptions Index 2010).  Hong Kong has a stable economic and political environment with a pro-business government and an independent legal system. For these reasons it is not surprising that Hong Kong is a popular choice for regional operations in Asia, with 1,252 regional headquarters and 2,328 regional offices (Hong Kong SAR Government's Census & Statistics Department).

2. Location

Strategically located in close proximity to China, Hong Kong plays a vital role in accessing the Mainland China market for many foreign entrepreneurs. Hong Kong is just one hour's drive from the world's largest manufacturing region, the Pearl River Delta, which produces 30% of China's exports. Hong Kong accounts for a large share of inward investment to Mainland China and China is the largest trading partner for Hong Kong.

Hong Kong's reputation as a global financial powerhouse attracts Chinese companies for primary and secondary listings to access Asia markets. During 2010, the Hong Kong Stock Exchange (HKSE) became Asia's second largest stock exchange in terms of market capitalization, behind the Tokyo Stock Exchange (TSE). HKSE overtook Shanghai Stock Exchange partly because many Chinese companies also see Hong Kong as an efficient avenue to expand business within Asia.

Being in the centre of Asia, HK is also efficient in terms of links to international markets.  The Hong Kong airport is within 5 hours flight to all major trading jurisdictions in the region.

3. Infrastructure

Hong Kong is one of the most modern cities in the world. It is well equipped in terms of infrastructure such as transportation, telecommunications, IT connectivity and utilities. Combining the world-class international airport with efficient logistics facilities such as the cargo airport and shipping container port, makes HK attractive for international business that relies of efficient transport of human personnel and products around the world.

4. Policy and Taxes

Companies that incorporate in Hong Kong also benefit from its low and simple tax system. With a corporate tax rate of 16.5% (maximum) and personal income tax peaking at 15%, Hong Kong has the 3rd lowest tax misery in the world, as rated by Forbes' Tax Misery Index. Company registration in HK also benefits from having no sales tax or VAT, capital gains tax, no withholding tax or dividends tax and ultimately, despite providing such significant tax benefits, Hong Kong is not perceived to be an international tax haven.

5. Company Registration Requirements

The Hong Kong company registration process is relatively straight forward.  The main requirements for Hong Kong company formation are:

- confirming the company name and corporate structure

- confirm the details to meet the HK company law requirements which include: i) minimum one company director (doesn't need to be resident in HK), a Hong Kong resident company secretary (director and secretary cannot be the same person), a minimum issued capital requirement of HK$1.

- Register the business

- Operational requirements such as opening a Hong Kong corporate bank account, setting up office (virtual office is an option), securing employment visas etc.

Hong Kong is an excellent location for international entrepreneurs to register their business.  Besides benefitting from the geographic location to the booming China economy and an efficient tax system, Hong Kong is a diverse multi-cultural environment that is efficient for international business and exciting as a place to live.

Just a little research time spent online, checking daily newspapers or your local travel agent will show you that finding flights from London to Hong Kong at a reasonable price is easy. China travel opportunities and cheap Flights are available from both the major London airports. Whether you want to fly from Gatwick or Heathrow, it is now easy to find flights from London to Hong Kong. How and when you travel is largely reliant on your budget. If you want to go first-class during the month of August, or around Christmas time, then you need a high budget. However, there are flights from London or Hong Kong for even the tightest of budgets.

A direct flight from London to Hong Kong will take around 12 hours, flying direct. This is a long haul flight, and travellers should make sure that they take items with them that will make the journey as comfortable as possible. However, be sure to check the local hand luggage rules in force at the time that you intend to travel. Once you arrive in Hong Kong, there are many things to see and do that will suit all tastes and purses. Hotels in Hong Kong range from expensive 5 star luxury in the heart of the city, to more moderate accommodation more suited to a smaller budget on the outskirts. At off peak times, many hotels offer substantial discounts, so check to see what is available at the time you book your flights from London to Hong Kong.

Hong Kong is one of the cities that never sleep, but if you find that the noise and hustle and bustle proves too much for you, there are other alternatives. When you book your flights from London to Hong Kong, look for excursions to some of the smaller islands around the city. Here you will find a quieter pace of life with time to unwind and enjoy the scenery. Finding cheap flights to Hong Kong is a simple process and you'll have little difficulty finding a great deal. A boat trip to the island territory of Lantau will show you a different part of China than the cosmopolitan Hong Kong. On this island you can see the very last surviving fishing village, complete with its aluminium stilt houses. Lantau is also the home of the famous bronze Buddha.

If you fancy a walking China holiday, then try the Lantau Peak trek, which is a far cry from the hustle and bustle of Hong Kong city. If the trek seems too much for you, then take a boat trip and go pink dolphin spotting. Or take in some culture in the New Territories with the traditional walled villages. The majority of people book their flights from London to Hong Kong with a view to experiencing the fast pace of Hong Kong itself. The shopping is second to none, and although there may not be the rock bottom bargains of the past available, but there are still bargains to be had. Many people buy silk to bring home with them, to be made into luxurious garments.

The variety of food available in Hong Kong is vast. The Chinese believe that all food should not only satisfy your hunger, but should bring joy to all the senses. The food in Hong Kong is no different. When eating in Hong Kong, it is possible to find most of the cuisines of the world in a single street. From the street side vendors to five star restaurants, there is sure to be something for everyone. Remember that lunchtime is one of the busiest times with literally hundreds of workers looking for somewhere to eat, so it is best to avoid eating at this time.

Booking flights from London to Hong Kong can provide a gateway to experiencing the rest of China. A China holiday with the Olympics being held in Beijing 2008 is perfect for any vacation, and you may want to combine the trip with some travel throughout the country. Or you may decide to use your flight to Hong Kong as an opportunity to take in some of the many tourist attractions that China has to offer. The most well-known tourist attraction in China must be the Great Wall of China. However there are many other things to see in the vast country and many travellers have been delighted with what they find when they venture off the beaten track a little. If you intend to do this, then it is wise to make sure you have the relevant maps and information. 

All of China has a deep spiritual element, with a variety of religions being practised. In Hong Kong, it is possible to step from a busy street into a quiet temple that seems like another world. Many travellers have sought sanctuary in the peace and quiet of such places. Booking your flights from London to Hong Kong provides any traveller with a gateway to another land that will surprise and enthral them. It is worth considering this destination as a full day stop over when travelling even further abroad. Whatever your intentions, booking flights from London to Hong Kong has never been easier.

If you are traveling to Hong Kong and you haven't figured out where to stay, then you can always go online and search the Internet for a specialized resource. There are numerous websites out there that can help you find cheap hotels in Hong Kong in a matter of minutes. All you have to do is be patient enough until you find a website that allows for side-by-side comparisons, delivering all the information you need to know about cheap Hong Kong hotels.

Each year, an impressive number of people travel to Hong Kong, arriving from all over the world. Some travel in order to discover the exciting destination that is Hong Kong, preferring the tourist perspective. Others arrive in Hong Kong for business reasons. However, all of these people are looking for cheap hotels in Hong Kong, as they would rather spend their money on something else. If you are planning on travelling to this unique destination as well, hoping to discover its culture and traditions, then you may want at some cheap Hong Kong hotels online, deciding on your accommodations before you even arrive to the destination.

We have already determined that finding cheap hotels in Hong Kong is important, regardless of the reason that brings you to that side of the world. Well, if you are thorough, then you will surely find a website that presents cheap Hong Kong hotels, along with all the necessary detail. Such websites provide a well-made comparison between hotels in Hong Kong and other destinations as well. It is their job to provide you with such information, so as you can take an informed decision regarding your travel arrangements and accommodations. On the plus side, they offer detailed information about the destination, presenting the geography of the region, the major points of interest for tourists and even the climate.

The great thing about such a website is that it welcomes feedback from its visitors. What does this mean? If you have traveled to Hong Kong and you were most pleased with your accommodation (and stay in general), then you should not hesitate to share your own experiences. They would definitely like to hear about your trip to Hong Kong and whether you were satisfied with one of the cheap hotels in Hong Kong or not. At the same time, if you have any questions related to cheap Hong Kong hotels, you should definitely ask, as you might receive answer from people who have stayed in Hong Kong and actually know what they are talking about.

To summarize, if you are traveling to Hong Kong in the near future, you can always resort to the World Wide Web and its specialized resources in order to find cheap Hong Kong hotels. Prepare yourself to be pleasantly surprised with the information offered, not only when it comes to cheap hotels in Hong Kong but to other details related to traveling as well. The Internet is pretty useful to those who need to travel to distant parts of the world and we should only consider ourselves for having such a great resource available to find cheap Hong Kong hotels on the spot, without worrying even an inch about accommodation arrangements.

A representative office is often setup to explore opportunities and markets in Hong Kong before starting a major business venture. If you plan to register a Hong Kong representative office, there are a few things to take into consideration, first.

Advantages
You will have several advantages for opening a representative office in Hong Kong. They are as follows:

   1. There is no minimum share capital needed. You will not be a separate legal entity in Hong Kong.
   2. You do not have to register with the companies registry.
   3. You do not have to file a tax return in Hong Kong.
   4. You are free to conduct market research for your parent company.
   5. You can establish business contacts and contact suppliers that you may need in case you become a Hong Kong company, in the future.
   6. You may open a bank account in Hong Kong, after you have received your certificate.
   7. Registration is quick and easy and may only take two working days.

Disadvantages
There will also be several disadvantages over normal businesses. Here are some to consider.

   1. Your parent company will be liable for your actions. There is no separate entity protection. Any problems with the parent company will affect the representative office also.
   2. You will only be a temporary administrative office. This means that you cannot conduct business like selling or shipping goods. This also includes charging fees for consulting.
   3. You must have the same name as your parent company.
   4. You must hire someone from your country to run the office, but you may hire local help for staff support.

Other Options
Some may think that a branch office and a Hong Kong representative office are the same thing. However, this is not the case. A branch office is similar, except a branch office is a legal entity and may conduct business in Hong Kong. This includes sales and shipping products, as well as charging fees for consultations.
A branch office is subject to Hong Kong corporate taxes and it must file an annual return.

Requirements
Even though a representative office in Hong Kong does not have to file with the companies registry, it must file for a Business Registration Certificate. It must be done within the first month that it starts up. There are two basic requirements.

   1. The chief officer must be appointed and must present proper identification to apply for the certificate.
   2. An application form must be completed.

When a Business Registration Certificate is given, it must be in plain sight at the place of business, at all times.

Summary
A Hong Kong representative office is usually setup for marketing and research purposes. It gives the advantage of checking out the market and area before opening a company in Hong Kong. There is no share capital minimum and registration is a simple process. A representative office in Hong Kong cannot conduct any type of business for profit. This includes sales, shipping, and consulting. Representative offices and branch offices are not the same thing. A branch office is a separate entity and may conduct business for profit. There is more information on setting up business at GuideMeHongKong.com