Since the introduction of the Managed Service Company (MSC) legislation in the budget 2007, the only way an independent contractor can comply with this legislation is to set up his or her own personal limited company or to use the services of a PAYE umbrella company.
Limited Company
A limited company in the United Kingdom is a corporation whose liability is limited by shares (Ltd) This is the most common form of privately held company.
By setting up your own limited company, you become a Director who is responsible for the affairs of that company.
Pros
* The most tax efficient way of working providing your contract is outside IR35
* You are your own boss and have complete control over the company and its operations
* A wider range of tax benefits are available; including payment by dividends; that attract a lower rate of tax
* Ideal for contractors with complex financial affairs
Cons
* You are responsible for maintaining accurate company accounts
* Either yourself or your company secretary will be responsible for ensuring compliance with all company matters
* You will be responsible for invoicing the client, all aspects of credit control and maintaining an accurate accounting system
* You must ensure that all company returns and accounts are filed by their respective due dates. Failure to do so, may give rise to late filing penalties being born against the company
* You will need to employ the services of a reliable accountant
* You will have to maintain various comprehensive Insurance Policies e.g. Employers Liability, Public Liability and Professional Indemnity Insurance
* You will need to complete a self assessment for tax each year, getting this wrong can prove detrimental to your tax status in the long run
Managed Service Company Legislation has made the Limited company route more high risk; particularly for individuals that seek third party assistance with the general daily operations of the company. If it is deemed that the company is a Managed Service Company, then you may be liable for additional retrospective taxes. Many contractors will labor with these responsibilities; therefore setting up and administering your own limited company should not be entered into lightly.
PAYE Umbrella Company
A PAYE umbrella company (GoUmbrella) employs independent contractors who work under temporary contract assignments. The PAYE umbrella company issues invoices to a recruitment agency (or client) and, when payment of the invoice is made, will pay the contractor through PAYE. All Tax and National Insurance is deducted at source, making the PAYE Umbrella Company the safest way to contract.
Pros
* Great for first time contractors who require a quick and easy start up to contracting
* Ideal for contractors who require a cost effective management solution for short term or fill in contracts between permanent assignments
* The threat of IR35 is removed
* Removes the implications and legal responsibilities of running your own Ltd Company
* All legal, contractual and financial affairs are dealt with by the PAYE umbrella company
* You don"t accrue fees when you are in between contract assignments
* The PAYE umbrella company takes care of all accountancy, administration and taxation matters
* You won"t have to chase for payment of o/s invoices. The PAYE umbrella company should ensure that invoice payment deadlines are met and you are paid regularly
* You have full employee status and entitlement to all statutory employment rights
* Most PAYE umbrella companies will include a full range of insurance cover as standard
GoUmbrella is a PAYE Umbrella Company
Cons
* Perhaps not as tax advantageous as operating your own limited company (but then this is subject to certain criteria being met, particularly the application of IR35)
* Unless you opt for same day payments, there will be a slight delay (typically 3 working days) before you receive cleared monies into your account, as it needs to pass through the PAYE umbrella company bank account. This presents an element of trust on your part due to the control the PAYE umbrella company has on the money
Click to read more
Sunday, January 31, 2010
Sunday, January 24, 2010
Company Formation – Setting Yourself Up For Success
Are you a budding entrepreneur, just waiting to break it big? Do you have tons of business ideas swirling around your mind, but lack the knowledge of what steps you should take now? Or perhaps you have started your own closet industry and have expanded to the point that it is time to consider forming a larger company? If any of these sound like you, then it is high time that you got some information about company formation, so that you can make an informed decision before taking the next steps! There are a number of ways to hang your shingle in the UK, and it is important that you choose the best set up for your needs.
It is important to note that there are approximately 10 different classes of business that you can register in the UK at the start of company formation. Not all types of business are qualified for all of these types of companies, so researching the different kinds is an important first step. Ranging from CIC’s, or Community Interest Companies, that aim to use their proceeds for the public good to a general partnership between two or more people, where all parties are entirely liable for any debts or liabilities to a limited company, wherein each partner is limited to only the original capital that they invested when it comes to liability.
Moat small businesses benefit the most greatly from going through the company formation process needed to become a limited company. There are relatively few businesses that truly fall under the CIC distinction and unless there is only a sole proprietor involved with an exceptionally small risk of liability an unlimited company provides more personal risk than most people can reasonably accept. A limited company allows an organization to operate as it needs to while still affording the owners of the company a modicum of protection, should something ill come to pass.
Click here to know more on this
It is important to note that there are approximately 10 different classes of business that you can register in the UK at the start of company formation. Not all types of business are qualified for all of these types of companies, so researching the different kinds is an important first step. Ranging from CIC’s, or Community Interest Companies, that aim to use their proceeds for the public good to a general partnership between two or more people, where all parties are entirely liable for any debts or liabilities to a limited company, wherein each partner is limited to only the original capital that they invested when it comes to liability.
Moat small businesses benefit the most greatly from going through the company formation process needed to become a limited company. There are relatively few businesses that truly fall under the CIC distinction and unless there is only a sole proprietor involved with an exceptionally small risk of liability an unlimited company provides more personal risk than most people can reasonably accept. A limited company allows an organization to operate as it needs to while still affording the owners of the company a modicum of protection, should something ill come to pass.
Click here to know more on this
Wednesday, January 20, 2010
Company Formation UAE
Companies in the UAE must be registered and licensed with the UAE Federal Ministry of Economy and Commerce and with the appropriate authority in the Emirate in which its office will be located. There are also requirements determining minimal capital contributions, the number of directors and shareholders, and incorporation procedures.
Under Federal Law No. 8, company formation UAE may take one of seven forms:
* Public Shareholding Companies
* Private Shareholding Companies
* Limited Liability Companies
* General Partnerships
* Limited Partnerships
* Partnerships Limited by Shares
* Shareholding Companies
The law for company formation UAE sets forth the general rule that participation of UAE nationals should never be less than 51 percent in any commercial enterprise.
Some business forms and structures are generally not available to foreign investors, as will be elaborated below.
* Public Shareholding Company:
Public shareholding company formation UAE is a company with a capital divided into equal negotiable shares. In such companies a shareholder's liability is limited by the number of shares held by him. Minimum capital required to form a public share holding company in UAE is AED 10 million with a nominal face value of AED 1 to 100 shares are registered in a share register and cannot be issued lower than the nominal value.
All shares must have equal rights. The Board of Directors must have a minimum of three and not more than twelve directors. The chairman, as well as a majority of the board, must be UAE nationals for public share holding company formation in uae.
* Private Shareholding Company:
Another company formation UAE is private share holding company. A private shareholding company must have a minimum of three shareholders. The minimum share capital to form a private share holding company is AED 2 million. Shares may not be offered to the public. The Chairman and majority of the Directors in a private shareholding company must be uae nationals.
* Limited Liability Company:
This type of company formation UAE is widely accepted way to business. Under the Commercial Companies Law or CCL (Federal Law No. 8 of 1984 Concerning Commercial Companies as amended by Federal Law No 1 of 1984 and Federal Law No 13 of 1988, Federal Law No. 15 of 1998) foreign investors are permitted to hold up to 49 per cent equity ownership in UAE companies, 51 per cent of the equity must be held at all times by one or more UAE nationals. A limited liability company can be formed by a minimum of two and a maximum of fifty persons.Non UAE nationals may own up to 49 percent of an LLC. The Companies Law provides that an LLC may engage in any lawful activity except insurance, banking and investment of money for others.
Shareholder liability is limited to the value of shares held in the company capital. The minimum capital required to establish a limited liability company is AED 150,000 in other emirates and AED 300,000 in Dubai. Non UAE nationals may own up to 49 percent of an LLC. The Companies Law provides that an LLC may engage in any lawful activity except insurance, banking and investment of money for others.
* Partnerships
* General Partnership:
According to the article 23 of UAE Federal Law No 8, A General Partnership is a type of company formation UAE where all the shareholders are jointly liable for the company liabilities to the extent of their assets. All the partners should be UAE nationals.
General partnerships are formed by two or more UAE nationals who are jointly and severally liable for its debts. Interests of a partner can be transferred as stipulated in the partnership agreement or with the approval of all partners.
* Limited Partnership:
A limited partnership is composed of one or more general partners who are jointly and severally liable for all of its debts, and one or more limited partners who are liable for the limited partnerships debts only to the extent of his capital contribution. A partnership limited by shares has both general partners with unlimited liability and partners whose liability is limited by their shares in the capital. The capital must be at least AED 500,000 and has to be divided into negotiable shares of equal value.
* Joint Ventures:
According to the article 56 of the UAE Federal Law No 8, Joint Participation is a form of company formation UAE that consists of two or more partners for carrying out a single or multiple businesses by one of the partners in his own personal name. A joint venture is a contractual agreement between a foreign party and a local party licensed to engage in the desired activity. The local equity participation in the joint venture must be at least 51 percent, but the profit and loss distribution can be prescribed.
There is no need to license the joint venture or publish the agreement. The foreign partner deals with third parties under the name of the local partner who unless the agreement is publicized and bears all liability. In practice, joint ventures are seen as offering a suitable structure for companies working together on specific projects.
Structures Available to Foreign Investors:
* General: A foreign investor may chose to participate with up to 49 percent in a company formed in one of the structures open to foreign investors despite the requirement that the majority of shares must be held by UAE nationals.
* Branches: A foreign company may establish a branch in the UAE but a local sponsor or agent is required who must be either a citizen of the UAE or a company wholly owned by citizens of the UAE. A branch must be registered with the local chamber of commerce and the municipality. Since February 1990, branches of foreign companies including those already in existence are also required to register with the Ministry of Economy and Commerce.
* International company offshore: The most common uses of offshore companies are for business and investment purposes in order to protect your assets by minimizing your taxes. The minimum number of shareholders is one person and maximum is 50 persons and they can select their own minimum capital in order to set up the company. Name of the company must include the suffix Limited or Ltd to denote limited liability.
For more information on the same click here
Under Federal Law No. 8, company formation UAE may take one of seven forms:
* Public Shareholding Companies
* Private Shareholding Companies
* Limited Liability Companies
* General Partnerships
* Limited Partnerships
* Partnerships Limited by Shares
* Shareholding Companies
The law for company formation UAE sets forth the general rule that participation of UAE nationals should never be less than 51 percent in any commercial enterprise.
Some business forms and structures are generally not available to foreign investors, as will be elaborated below.
* Public Shareholding Company:
Public shareholding company formation UAE is a company with a capital divided into equal negotiable shares. In such companies a shareholder's liability is limited by the number of shares held by him. Minimum capital required to form a public share holding company in UAE is AED 10 million with a nominal face value of AED 1 to 100 shares are registered in a share register and cannot be issued lower than the nominal value.
All shares must have equal rights. The Board of Directors must have a minimum of three and not more than twelve directors. The chairman, as well as a majority of the board, must be UAE nationals for public share holding company formation in uae.
* Private Shareholding Company:
Another company formation UAE is private share holding company. A private shareholding company must have a minimum of three shareholders. The minimum share capital to form a private share holding company is AED 2 million. Shares may not be offered to the public. The Chairman and majority of the Directors in a private shareholding company must be uae nationals.
* Limited Liability Company:
This type of company formation UAE is widely accepted way to business. Under the Commercial Companies Law or CCL (Federal Law No. 8 of 1984 Concerning Commercial Companies as amended by Federal Law No 1 of 1984 and Federal Law No 13 of 1988, Federal Law No. 15 of 1998) foreign investors are permitted to hold up to 49 per cent equity ownership in UAE companies, 51 per cent of the equity must be held at all times by one or more UAE nationals. A limited liability company can be formed by a minimum of two and a maximum of fifty persons.Non UAE nationals may own up to 49 percent of an LLC. The Companies Law provides that an LLC may engage in any lawful activity except insurance, banking and investment of money for others.
Shareholder liability is limited to the value of shares held in the company capital. The minimum capital required to establish a limited liability company is AED 150,000 in other emirates and AED 300,000 in Dubai. Non UAE nationals may own up to 49 percent of an LLC. The Companies Law provides that an LLC may engage in any lawful activity except insurance, banking and investment of money for others.
* Partnerships
* General Partnership:
According to the article 23 of UAE Federal Law No 8, A General Partnership is a type of company formation UAE where all the shareholders are jointly liable for the company liabilities to the extent of their assets. All the partners should be UAE nationals.
General partnerships are formed by two or more UAE nationals who are jointly and severally liable for its debts. Interests of a partner can be transferred as stipulated in the partnership agreement or with the approval of all partners.
* Limited Partnership:
A limited partnership is composed of one or more general partners who are jointly and severally liable for all of its debts, and one or more limited partners who are liable for the limited partnerships debts only to the extent of his capital contribution. A partnership limited by shares has both general partners with unlimited liability and partners whose liability is limited by their shares in the capital. The capital must be at least AED 500,000 and has to be divided into negotiable shares of equal value.
* Joint Ventures:
According to the article 56 of the UAE Federal Law No 8, Joint Participation is a form of company formation UAE that consists of two or more partners for carrying out a single or multiple businesses by one of the partners in his own personal name. A joint venture is a contractual agreement between a foreign party and a local party licensed to engage in the desired activity. The local equity participation in the joint venture must be at least 51 percent, but the profit and loss distribution can be prescribed.
There is no need to license the joint venture or publish the agreement. The foreign partner deals with third parties under the name of the local partner who unless the agreement is publicized and bears all liability. In practice, joint ventures are seen as offering a suitable structure for companies working together on specific projects.
Structures Available to Foreign Investors:
* General: A foreign investor may chose to participate with up to 49 percent in a company formed in one of the structures open to foreign investors despite the requirement that the majority of shares must be held by UAE nationals.
* Branches: A foreign company may establish a branch in the UAE but a local sponsor or agent is required who must be either a citizen of the UAE or a company wholly owned by citizens of the UAE. A branch must be registered with the local chamber of commerce and the municipality. Since February 1990, branches of foreign companies including those already in existence are also required to register with the Ministry of Economy and Commerce.
* International company offshore: The most common uses of offshore companies are for business and investment purposes in order to protect your assets by minimizing your taxes. The minimum number of shareholders is one person and maximum is 50 persons and they can select their own minimum capital in order to set up the company. Name of the company must include the suffix Limited or Ltd to denote limited liability.
For more information on the same click here
Tuesday, January 19, 2010
Simple, Efficient And Quick Company Formations
Company formation agents, as the name implies, are experts in incorporating and registering companies. Thanks to the growth in the number of such specialized services, and the increasing standardization in company formation, the cost of forming companies in Europe has dropped dramatically over the last decade.
Company formation agents are often lawyers or auditors who have specialized in the company law and the formation of new companies. The agents provide quick, efficient and inexpensive services within a standardized range of products, and the best agents will also offer consultancy services and tailor-made formations. PANLEGIS is Europe’s largest company formation agent, offering formations across the EU and EEC, though focusing mainly on Sweden, Norway, Germany, Malta and the UK.
An experienced company formation agent will take care of all sides of your company registration – from suggesting M&As to registering with the national registrar of companies. They will help you:
-Select a company name
-Complete all formation documents, including your memorandum and your articles
-Registering your company with the registrar
-Annual filing services and Company Secretary Services
-Registered office
-Helping your company to grow
Starting up any type of business is hard enough in itself – making ends meet during the first few months can be difficult. You should not have to worry about the legal aspects of your company. To free your time for the most important tasks at hand – making your company grow, using a professional company formation agent is a very good idea.
Company formation agents are often lawyers or auditors who have specialized in the company law and the formation of new companies. The agents provide quick, efficient and inexpensive services within a standardized range of products, and the best agents will also offer consultancy services and tailor-made formations. PANLEGIS is Europe’s largest company formation agent, offering formations across the EU and EEC, though focusing mainly on Sweden, Norway, Germany, Malta and the UK.
An experienced company formation agent will take care of all sides of your company registration – from suggesting M&As to registering with the national registrar of companies. They will help you:
-Select a company name
-Complete all formation documents, including your memorandum and your articles
-Registering your company with the registrar
-Annual filing services and Company Secretary Services
-Registered office
-Helping your company to grow
Starting up any type of business is hard enough in itself – making ends meet during the first few months can be difficult. You should not have to worry about the legal aspects of your company. To free your time for the most important tasks at hand – making your company grow, using a professional company formation agent is a very good idea.
Sunday, January 17, 2010
How To Set Up A Limited Company In The UK
In case you have decided that you need to set up a company for the further development of your business, then, the next logical step is to decide on the legal structure of the company you are about to set up. A limited company has a lot going for it. A separate business and legal identity, limited liability on the members of the company and the ease with which new members may be introduced into this structure are all worth mentioning. Even a single person can form a ‘single member’ private company.
So, if you have decided to set up a limited company, here’s what you have to do:
In the UK, the Registrar of companies is the Companies House. Before the company you set up can begin functioning, it must be incorporated by the Companies House. Only then is the new company you set up a legally recognized corporate body.
The registration process is not overly difficult. However, it does involve the submission of many documents that require precise data. Sufficient awareness of what is required is necessary for this. In case of doubts, it is better to approach a formation agent (cheapest option), solicitor, company secretary or accountant. In this regard, it must be noted that the new Companies Act of 2006 came into force in October 2009. Therefore, there are some changes that affect both directors and shareholders in the new company set up.
Important documents that you will need for the set up of a new limited company are:
Memorandum of Association
Articles of Association
Form IN01
These forms contain important legal information including the name and address of the company, the rights of shareholders, authorized signatories etc. These forms are available for free download at the website of the Business House.
You will also need to have the company’s officers appointed formally. The names of officers will be recorded in the legal documents. In case of any changes in the names or addresses of these officials, the same must be informed to the Companies House immediately. The number of officers that a company needs depends on the type of company you are forming. According to the new act, every company must have one person acting as the director. Earlier, corporate directors were also allowed.
To more on set up companies in UK click here
So, if you have decided to set up a limited company, here’s what you have to do:
In the UK, the Registrar of companies is the Companies House. Before the company you set up can begin functioning, it must be incorporated by the Companies House. Only then is the new company you set up a legally recognized corporate body.
The registration process is not overly difficult. However, it does involve the submission of many documents that require precise data. Sufficient awareness of what is required is necessary for this. In case of doubts, it is better to approach a formation agent (cheapest option), solicitor, company secretary or accountant. In this regard, it must be noted that the new Companies Act of 2006 came into force in October 2009. Therefore, there are some changes that affect both directors and shareholders in the new company set up.
Important documents that you will need for the set up of a new limited company are:
Memorandum of Association
Articles of Association
Form IN01
These forms contain important legal information including the name and address of the company, the rights of shareholders, authorized signatories etc. These forms are available for free download at the website of the Business House.
You will also need to have the company’s officers appointed formally. The names of officers will be recorded in the legal documents. In case of any changes in the names or addresses of these officials, the same must be informed to the Companies House immediately. The number of officers that a company needs depends on the type of company you are forming. According to the new act, every company must have one person acting as the director. Earlier, corporate directors were also allowed.
To more on set up companies in UK click here
Tuesday, January 12, 2010
Company Registration India-the Procedure Of Registering A Company In India
Company is a separate legal entity, which is registered under the company act. Every country has different procedure of company registration. Company registration India is registered under Companies act 1956, which provides easy and effective procedures to register a company in India. Incorporation of Company is yet another important area of concern. The Companies Act of 1956 sets down rules and regulations for the establishment of both public and private companies. The most commonly used corporate form is the limited company, unlimited companies being relatively uncommon.
A company is formed by registering Articles of Association with the State Registrar of Companies of the state in which the main office is to be located. There are many companies in India, which provide Company Registration India Services, Taxation and Licensing Services, and Vat registration so that the process of registering a company will be easy and effective. These companies offer services like limited company registration, online company registration, foreign company registration and new company registration services in India. Company registration services in India not simply offer a registration service, but also provide you with advice and support for your business to flourish as long as you need it. Company registration India is very essential to show excellence in any business flourishing in India as it safeguards the profits and rights of a company. It includes company formation, company incorporation and a long procedure to be followed. But today, it has been done by different company registration services online that saves money and time of an entrepreneur as well.
Company registration India has made your business successful and efficient because of registering a company in India & across the globe. Non-Governmental Organization (Ngo formation) is a voluntary organization set-up to work in social and development sector, which covers a wide spectrum from small loose-nit local organizations to nationwide federations and international networks. There is a pressing need to understand the forces and processes, which shape organization and operations of NGOs in order to scale up and replicate their people-centered approach. New IPO in India is launched through various different methods like book building method, fixed price method or a combination of both. Generally, New IPOs in India have a registrar and also lead managers. The main objectives of New IPO in India are to use the proceeds from the issue to fund the company's plans for the expansion of operations and to meet the expenses of the issue. Online VAT registration is easy and fast process to register a tax on the final consumption of certain goods and services.
Get more information here
A company is formed by registering Articles of Association with the State Registrar of Companies of the state in which the main office is to be located. There are many companies in India, which provide Company Registration India Services, Taxation and Licensing Services, and Vat registration so that the process of registering a company will be easy and effective. These companies offer services like limited company registration, online company registration, foreign company registration and new company registration services in India. Company registration services in India not simply offer a registration service, but also provide you with advice and support for your business to flourish as long as you need it. Company registration India is very essential to show excellence in any business flourishing in India as it safeguards the profits and rights of a company. It includes company formation, company incorporation and a long procedure to be followed. But today, it has been done by different company registration services online that saves money and time of an entrepreneur as well.
Company registration India has made your business successful and efficient because of registering a company in India & across the globe. Non-Governmental Organization (Ngo formation) is a voluntary organization set-up to work in social and development sector, which covers a wide spectrum from small loose-nit local organizations to nationwide federations and international networks. There is a pressing need to understand the forces and processes, which shape organization and operations of NGOs in order to scale up and replicate their people-centered approach. New IPO in India is launched through various different methods like book building method, fixed price method or a combination of both. Generally, New IPOs in India have a registrar and also lead managers. The main objectives of New IPO in India are to use the proceeds from the issue to fund the company's plans for the expansion of operations and to meet the expenses of the issue. Online VAT registration is easy and fast process to register a tax on the final consumption of certain goods and services.
Get more information here
Incentives For Incorporating In Hong Kong - Why To Form A Company In Hong Kong
Company is a separate legal entity, which is registered under the company act. Every country has different procedure of company registration. Company registration India is registered under Companies act 1956, which provides easy and effective procedures to register a company in India. Incorporation of Company is yet another important area of concern. The Companies Act of 1956 sets down rules and regulations for the establishment of both public and private companies. The most commonly used corporate form is the limited company, unlimited companies being relatively uncommon.
Location
As two thirds of the global middle class will soon be from Asia, entrepreneurs from all over the world are taking interest in the continent, and being in the heart of Asia, Hong Kong is often a first choice. Hong Kong is within four hours flight from all of Asia’s key regional markets.
Strategically-located in close proximity to China, Hong Kong also plays a vital role in accessing the Chinese market. Indeed, Hong Kong has taken various measures to position itself as a gateway to China with developments like the Shenzhen-Hong Kong Innovation Circle that encourages Chinese enterprises to undertake scientific research in Hong Kong. More obviously, Hong Kong’s location being one hour’s drive from the Pearl River Delta, the world’s largest manufacturing region, gives Hong Kong access to the 450 million people consumer market in Southern China alone.
With Hong Kong’s Closer Economic Partnership Arrangement (CEPA) with China, it is undoubtedly the most business friendly economy from which to take advantage of Asia’s future opportunities.
Transport
Companies that incorporate in Hong Kong have access to its developed air, rail, road and sea links, that are both modern and efficient. Hong Kong’s international airport is the busiest in all of Asia and the Pacific, handling almost 50 million passengers annually and hosting direct flights to over 150 international destinations. Transit between the city and the airport is convenient via the Airport Express, which takes a total of 23 minutes to Central. Furthermore, general commuting within Hong Kong is judged to be the best in the world by Forbes Magazine as taxis are affordable and public transport is well developed.
From a commercial perspective, Hong Kong’s international cargo air port is the world’s busiest and the Hong Kong international container port is the world’s 3rd busiest. Over 100 international shipping lines operate from Hong Kong, connecting to over 5,000 destinations worldwide. A new rail link is in the process of development, names the Guangzhou-Shenzhen-Hong Kong Express Rail Link, and it will halve current journey times between Hong Kong and Guangzhou. Furthermore, Wuhan will be 5 hours from Hong Kong and Shanghai will be 8.
For more please click here
Location
As two thirds of the global middle class will soon be from Asia, entrepreneurs from all over the world are taking interest in the continent, and being in the heart of Asia, Hong Kong is often a first choice. Hong Kong is within four hours flight from all of Asia’s key regional markets.
Strategically-located in close proximity to China, Hong Kong also plays a vital role in accessing the Chinese market. Indeed, Hong Kong has taken various measures to position itself as a gateway to China with developments like the Shenzhen-Hong Kong Innovation Circle that encourages Chinese enterprises to undertake scientific research in Hong Kong. More obviously, Hong Kong’s location being one hour’s drive from the Pearl River Delta, the world’s largest manufacturing region, gives Hong Kong access to the 450 million people consumer market in Southern China alone.
With Hong Kong’s Closer Economic Partnership Arrangement (CEPA) with China, it is undoubtedly the most business friendly economy from which to take advantage of Asia’s future opportunities.
Transport
Companies that incorporate in Hong Kong have access to its developed air, rail, road and sea links, that are both modern and efficient. Hong Kong’s international airport is the busiest in all of Asia and the Pacific, handling almost 50 million passengers annually and hosting direct flights to over 150 international destinations. Transit between the city and the airport is convenient via the Airport Express, which takes a total of 23 minutes to Central. Furthermore, general commuting within Hong Kong is judged to be the best in the world by Forbes Magazine as taxis are affordable and public transport is well developed.
From a commercial perspective, Hong Kong’s international cargo air port is the world’s busiest and the Hong Kong international container port is the world’s 3rd busiest. Over 100 international shipping lines operate from Hong Kong, connecting to over 5,000 destinations worldwide. A new rail link is in the process of development, names the Guangzhou-Shenzhen-Hong Kong Express Rail Link, and it will halve current journey times between Hong Kong and Guangzhou. Furthermore, Wuhan will be 5 hours from Hong Kong and Shanghai will be 8.
For more please click here
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