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Gus Franklyn-Bute Welcome to Hong Kong Hong Kong: The Gateway to China Hong Kong’s Role in Growing Your Business in Asia.

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Presentation on theme: "Gus Franklyn-Bute Welcome to Hong Kong Hong Kong: The Gateway to China Hong Kong’s Role in Growing Your Business in Asia."— Presentation transcript:

1 Gus Franklyn-Bute Welcome to Hong Kong Hong Kong: The Gateway to China Hong Kong’s Role in Growing Your Business in Asia

2 About InvestHK Support overseas, Mainland and Taiwanese businesses to set up and expand in Hong Kong Our aim is for companies to make an informed choice and put the right part of your business in Hong Kong for the right reasons in order to be more competitive and make more profit Provide free advice and customized services to help your business succeed The Department for Foreign Direct Investment Relevant up-to-date information Facilitation of set-up / expansion Matchmaking and networking support Public relations support for launch / expansion

3 1.Three (3) Markets Hong Kong > A dynamic consumer market Hong Kong + Mainland China Hong Kong + Asia 2.Business or Operational Functions - E.g. Sales and Marketing Research & Development Sourcing and Procurement Regional Office/Regional HQ Management Treasury Functions 3.Low Tax… or No Tax 3 Markets, 3 Opportunities for Estonian Businesses

4 Hong Kong – Dynamic consumer market Free port – no import or export tariffs on most goods No sales tax – maximise consumer business opportunities Hong Kong loves to shop – total retail sales in 2010 at HK$324.9 billion, an 18.3% increase over 2009 Maximise brand and product exposure to more than 36 million (and growing!) visitors to Hong Kong With over 22 million Mainland Chinese visitors, Hong Kong is the shop window for Mainland consumers World-class logistics, infrastructure and financial services to support and help develop consumer activities in Hong Kong and Asia Large pool of tri-lingual and capable talent with international experience to help your consumer business Hong Kong a testing ground before entering Mainland China – minimising risk

5 “No other city in the world can help overseas investors manage the risks inherent in entering Chinese Mainland markets as well as Hong Kong” Source: E.E. Scott, First Choice Hong Kong – Your Asia Pacific Platform Hong Kong + China Gateway to the Mainland

6 Supporting China’s development –Raising capital, upgrading corporate skills, international exposure, testing/tailoring products Leisure & business visitors –36 million visitors in 2010, fuelling retail, leisure, hospitality sectors – 22.7 million from mainland China Closer Economic Partnership Arrangement (CEPA) Double Taxation Agreement RMB trade settlement, RMB Banking and RMB bond issue China opportunities

7 Major Fund Raising Centre for Mainland Companies Source: HKEx

8 Hong Kong + Asia Opportunities

9 RHQs / ROs / LOs in Hong Kong 2001 – 2010 Source: C&SD

10 Hong Kong: How to use the Hong Kong Advantage Most common business activities by overseas businesses Sales and Marketing e.g. local and region sales and marketing operation to promote your own products and services to international buyers Research & Development e.g. HK Science Park, Cyberport, testing new retail product Sourcing and Procurement e.g. access of most dynamic exhibitions, fairs, and events to obtain newest products Regional Office/Regional HQ Management e.g. location to manage Far East agents, suppliers and manufacturing Treasury Functions e.g. Regional or Global Financial and Foreign Exchange Management

11 Level playing field for all No foreign ownership rules Rule of law, low corruption Freely transferable currency Freedom of information Advanced infrastructure Low tax … or no tax! Hong Kong offers “Business Freedom”

12 Forbes’ Tax Misery Index 2009

13 Hong KongSingaporeMainland China Corporate tax16.5% maximum rate17% maximum rateStandard rate = 25% High/New Tech Enterprises (HNTE) = 15% HNTE some regions 0% Income tax15% maximum rate (salaries) 20% maximum rate5 - 45% VAT/GSTNil7% Certain exemptions apply 17% Certain exemptions apply Income not subject to tax Offshore income; dividends; capital gains; tax exemption for interest income from deposits placed with authorised financial institutions Certain remitted income; certain shipping income; certain Singapore dividends; prescribed income of foreign investors arising from certain funds; capital gains All income subject to tax (certain preferential tax treatments for foreign-invested enterprises) Withholding taxNil for dividends, management fees, interest, rent 5.25% for royalties Nil for dividends 10% for royalties 15% for interest 20% for directors 10% for dividends 10% for royalties 10% for interest 10% for capital gains Hong Kong Low Tax Regime Corporate Tax Cut to 16.5%; Income Tax Cut to 15%

14 InvestHK Sector Specialist Teams Business & Professional Service Consumer Products Financial Services ICT Innovation &Technology Creative Industries Tourism & Hospitality Transportation & Industrial

15 Enjoy our free services Latest information on business environment and opportunities Contacts for all aspects of business establishment Arranging tailored visit programmes Support and assistance with visa applications, trade regulations etc. Public relations services during your launch/expansion Advice on settling in Hong Kong – housing, schooling, healthcare Invest Hong Kong: how we can help

16 InvestHK London Gus Franklyn-Bute +44 (0)207 499 9821 Thank you!

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