Most of the companies’ looks at countries that can help them protect their assets in the best fashion. Many companies want to open their offices in countries that will allow them excellent asset protection without many financial restrictions. These countries are generally called “tax havens” for their low rate of taxes. In some of these countries, there are no taxes at all. This helps the companies to save a lot of money.
There are many countries which extend these facilities to the companies and also make it easy for companies to tap the market around these countries. There are many agencies in Singapore which will help the businesses to open their businesses in such countries. Such offshore companies can be opened even without the presence of the directors from Singapore as the agencies will get everything done quickly and easily.
The Benefits of Opening an Offshore Company
It is very important to know that opening an offshore company is not illegal as many people have in their minds. These companies who open their offices in these countries don’t hide their names or do anything secretly. They openly start their operations in these countries and go about the whole affair legally. There are many benefits to opening companies in these countries and the companies want to legally use the facilities that the country provides.
Opening an offshore company can offer you the kind of privacy many people seek. They don’t want to hide their money, but they don’t want to publicize their wealth because in some countries it is not very safe to be very rich. There is nothing illegal about this and these businessmen are not hiding anywhere. You can even open an offshore company in any of the other countries if you don’t want to save on tax. This can be done for more privacy and safety of your assets.
Lower Taxes and Business Risks
There are some countries which have very low taxes. These countries don’t have any inheritance, capital gains or wealth tax. The corporate tax rates will also be very low in these countries. Opening an office and operating from there could reduce your tax burden a lot. This is one of the major reasons for people opening companies in countries like Hong Kong. The tax rates are very low.
Businesses will also like to open companies in countries where there are lesser risks on their investment. Countries where the economy is flourishing and business runs very vibrantly are the main attractions for companies who want to reduce their business risks. They can safely invest in these countries and be sure that their money will grow.
Why Should You Open A Hong Kong Company?
Hong Kong is one such country which is a favorite for many companies to invest in. It is a country with a dynamic economy and this is why many start-ups choose this country for their business. It is a country where people travel for tourism and has turned into a shopping paradise. This is enough reason for you to open a Hong Kong company and tap the huge market available there. Easy access to the largest market in the world, China, is another attraction for starting a company here.
Another big advantage is that you don’t even have to travel to Hong Kong to open your company because there are agents in Singapore who operate in Hong Kong. They will process all the papers the open the company for you. This makes it easy for you as there is no time wasted on travel and other procedures.
