FAQ
1. Can I open a company as a foreigner?
Yes. It takes only five steps to open a company in Hong Kong and it can be usually done within a day.
2. Do I need a visa to work and live in Hong Kong?
EU citizens can stay in Hong Kong visa-free for trips up to 90 days. A visa is needed if you come to Hong Kong to live, work or invest. InvestHK can help companies and individuals facilitate the visa application process.
3. Do I have to speak Chinese to work and live in Hong Kong?
No. English and Chinese are both official languages of Hong Kong. Business is usually conducted in English. Almost all information, including signs, announcements and websites, are in English and Chinese.
4. How much taxes do I have to pay in Hong Kong?
Hong Kong only imposes the following direct taxes: profits tax (16.5 %), salaries tax (max. 15 %). There is NO sales tax or VAT, NO withholding tax, NO capital gains tax, NO tax on dividends, and NO estate tax in Hong Kong.
5. What about import duty?
Hong Kong is a free port and does not levy any import duty on products and services. Duty is only paid on very few products, for example, tobacco and liquor.
6. How can I find office space in Hong Kong?
There is a wide range of options. You can choose among leasing an office or starting your business in co-working spaces and use specialist centers with high-tech facilities for your R&D. InvestHK can inform you about the different districts and locations for your business.
7. Is there government funding for my business?
Yes. Depending on your business model and the industry you’re operating in various kinds of government funding are available. InvestHK can inform you about the different funding schemes.
8. What is the legal system in Hong Kong?
Hong Kong applies Common Law which is based on the English law system. The rule of law is upheld by independent judiciary and courts in Hong Kong.
9. Which currency is being used in Hong Kong?
Hong Kong has its own currency, the Hong Kong Dollar (HKD) which is fully convertible and pegged to the US-Dollar. There is no restriction in the movement of capital.
10. How can InvestHK support me?
InvestHK can introduce you to service providers at networking events, provide PR and marketing support for the launch or expansion of your business, facilitate your visa applications and schooling of your children, and support your planning and evaluation process.
We are pleased to offer you our free, confidential and customised services.
11. Is there support for Start-ups in Hong Kong?
Yes, the start-up scene in Hong Kong is very vibrant and offers co-working spaces, accelerators and access to investors. For more information please visit www.startmeup.hk.