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Hong Kong bound

Hong Kong is a land of opportunities characterised by low taxation, free trade and minimum government intervention.

Tags: Hong Kong bound

BY Entrepreneur  |  Aug 04, 2011 comments ( 14 ) |

Hong Kong is not synonymous to Honeymoon, Shopping and Leisure travel alone, opportunely, it is also a land of serious business. No wonder, so many people are coming from all corners of the world to make use of the vast opportunities that are lying to be explored there or are simply paving an export or import route to the country.

Advantages

If you are wondering what is so different in Hong Kong in comparison to other famous tourist destinations, then have a look at the following to come to a valid conclusion:

  • Hong Kong is perhaps, the world’s freest economy; a fine example of laissez-faire capitalism. It offers world standard facilities and does not impose foreign ownership restrictions thereby guaranteeing a level playing field to all entities.
  • Unlike in other countries especially India, the Government of Hong Kong has a very small role in the financial decisions of the country. They would rather allow the private sector or the market forces to decide the direction of the economy. Service sector accounts to 90 percent of the GDP. Low taxation, free trade and minimum government intervention are other major characteristics of the economy.

Main highlights of taxation are: Profit is taxable at 16.5 percent; income tax at 15 percent flat and it has been ranked to be the third lowest in tax misery. So, do not be surprised if you find the natives of Hong Kong raising their eyebrows at words like service tax, capital gain tax or any other tax besides the above two. Also, the currency of Hong Kong is easily convertible.

  • Hong Kong maintains a steady supply of skilled work force and for the purpose it has a lenient visa policy and thrives on admission schemes for mainland talents and professionals (ASMTP) and quality migrant admission scheme(QMAS). It also offers capital investment entrant scheme(CIES) for investors.

Also, Hong Kong maintains good quality education. They even have immigration arrangement for non-local graduate scheme(IANGS).

  • Hong Kong has one of the best infrastructure facilities on offer in telecommunication network, transport etc.

Potential Sectors and Industries

Hong Kong is flourishing on services like medical, education, environmental and testing, innovation and technology, cultural and creative industries.          

Exporting in Hong Kong

If you are considering an option of export, then you can choose options from electronics, textiles, apparels, footwear, watches, clocks, toys, plastic, food items etc. Before starting the procedure, remember to keep in mind things like people expectations, product positioning and competition etc before embarking on the export route. Therefore a little research before entering the market should not hurt you. Other market essentials to be probed before going forward are: Structure of industry, demand for your product or service, competition, acclimation or alterations to your products and services, marketing strategy, financial resources, eruditions in local requirements like pricing, packaging etc, eruditions in cost and payment procedures.

Next, determine if your product is cut out for export by checking the standards and regulations of your product and the fees involved in altering your product, service for a foreign market.

After you are ready to enter the market, consider options of a JV, appointing a sales agent or setting up your own office there.

Importing from Hong Kong                                          

Raw materials, consumer goods, capital goods, foodstuff and fuel are some items of import from Hong Kong.

Either you can fly to Hong Kong or have an agent guide you about the purchases. But whatever it is, do not first of all forget to take import/export permits. There are many trade associations also to guide you.

So, if the proposition is alluring enough, get going with the scheme of reaching out to Hong Kong.

 

Please add your comment

Sahil nagpal

June 07, 2015 at 8:53 am

I want to export indian products to hongkong Suggest me buyers in hong kong their contact details ? Agent details ?

Reply |

B.Selvaraj

March 31, 2015 at 12:41 pm

I am interested in Import of any items from Hong Kong to market in India.

Reply |

S.M.Hussain

February 17, 2013 at 5:02 pm

i want to export to hong kong any items from India.so give me what are the goods specify the list of the requirement for export. I m really interested in imports from hongkong. Please suggest me some products so i can sell in India.

Reply |

Jasmine

December 19, 2012 at 2:29 pm

i want to export in hong kong any item please suggest the buyers

Reply |

SUMIT

November 22, 2012 at 3:38 pm

I want to import to hong kong any items from India so give me what are the goods(good margin) specify the list of the requirement for import.

Reply |

Jagan

September 27, 2012 at 6:13 pm

I want to export to hong kong any items from India so give me what are the goods specify the list of the requirement for export.

Reply |

Vijhaya Bhaskher Khanna

July 09, 2012 at 8:06 pm

Hello.. I want to expand my business. I want to change my stream of business.i m really interested in imports from hongkong. Please suggest me some products so i can sell in india.

Reply |

ankush singh

August 25, 2011 at 4:23 pm

Tell me how to export and where to sell. suggest to me requirement for export

Reply |

Partha sarathi Pathak

August 22, 2011 at 2:19 pm

Tell me how to export and where to sell. suggest me

Reply |

Manisha sahu

August 16, 2011 at 3:17 pm

i want to export to hong kong any items from India so give me what are the goods specify the list of the requirement for export.

Reply |

i wanna start medicine business at hong kong please advise me

August 16, 2011 at 3:00 pm

I hope this site will help me to know more about hong kong business.

Reply |

kumar sarvesh bhandari

August 14, 2011 at 9:38 am

i want to start medicine business at hong kong .please advise

Reply |

Abhishek

August 11, 2011 at 6:07 pm

i want to export to hong kong any items from India.so give me what are the goods specify the list of the requirement for export.

Reply |

ponnuswamy

August 09, 2011 at 9:04 pm

i want to export to hong kong any items from India .so give me what are the goods specify the list of the requirement for export.

Reply |

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