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Company Formation Comparison: Singapore Vs. Hong KongA presentation brought to you by OpenCompanySingapore.com
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Business Environment in Singapore and Hong Kong
• Singapore and Hong Kong are two of the most spectacular countries in the world when it comes to infrastructure and real estate development.
• The countries have another thing in common: they are both two of the most liberal economies in the world.
• Below you will find a brief comparison between the company formation procedures in Singapore and Hong Kong.
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Opening a Company in Singapore >>
• Even if Singapore ranks the same as Hong Kong in terms of economy, the World Bank has chosen the city-state to be the easiest country to do business in several times in row.
• So, when deciding to open a Singapore company, one should really take this into consideration.
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>> Opening a Company in Singapore
• According to the same World Bank, the company registration process in Singapore consists in three steps:
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registering with the Accounting and Corporate Regulatory Authority;
obtaining the company seal; registering with the Employee
Compensation Insurance Agency.
Opening a Company in Hong Kong• If the
company incorporation procedure takes three steps to be completed in Singapore, opening a company in Hong Kong only takes two steps: registering with the Companies Register;
registering for social insurance purposes.
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• The company formation procedures would be completed in one day, no matter if one decides to open a company in Singapore or in Hong Kong.
Company Formation Costs in Singapore and Hong Kong
• Considering the company registration requirements are pretty much the same in Singapore and Hong Kong, it is all reduced to the costs related to start a business and the advantages for foreign investors.
• When it comes to the costs, it is definitely cheaper to open a company in Singapore.
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Why Choose Singapore over Hong Kong? >>
• When it comes to choosing between Singapore and Hong Kong one must only pay the company incorporation fee and the company seal in Singapore.
• In Hong Kong the costs imply the company name reservation, the company registration fee and another levy with the Companies Register.
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>> Why Choose Singapore over Hong Kong?
• When it comes to legislation on foreign investments, Singapore overtakes Hong Kong because it requires no share capital to open a company, whereas Hong Kong requires a minimum amount of 10,000 HKD for the registration of a limited liability company.
• Singapore also offers numerous tax incentives to foreign investors.
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Singapore – Hong Kong Limited Tax Treaty
• The following taxes are covered by the Singapore-Hong Kong limited tax agreement which was enforced in 2005:
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the income tax in Singapore; the profits and the salaries taxes
in Hong Kong.
• Our Singapore company formation agents can offer more information on the agreement with Hong Kong.
Company Registration Services in Singapore
• For assistance in opening a company in Singapore , do not hesitate to contact our local company formation experts.
• You can also rely on our company registration agents for information on the legislation on foreign investments in Singapore .
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Thank you for your attention!
For more information, please contact us at:
+ 852 8191 3385
www.opencompanysingapore.com11
