start a laundry business in hong kong
TRANSCRIPT
Start a Laundry Business in Hong KongA presentation brought to you by OpenCompanyHongKong.com
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Commercial Laundries in Hong Kong
• Opening a commercial laundry in Hong Kong can be a lucrative business.
• Investors who choose to do so can find a suitable location where clients in the city will regularly use their services.
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Starting a Laundry Business in Hong Kong
• Laundries and Laundromats in Hong Kong are popular because some of the apartments in the city lack the needed space to accommodate large washing machines and driers.
• Instead of cluttering their own homes, Hong Kongers will use the services provided by a laundry.
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Open a Laundry Businessin Hong Kong
• When deciding to open a laundry in Hong Kong investors can start by choosing a neighbourhood or location, typically in the residential areas.
• Kowloon and other parts of the city are often sought by those who want to purchase a property in Hong Kong for residential purposes.
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Requirements to Open a Laundry in Hong Kong
• A laundry business operates as a Hong Kong incorporated legal entity.
• Investors will open a Hong Kong company and then buy or rent a location for the Laundromats.
• The basic requirements to open a laundry in Hong Kong are as for any other type of business.
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Incorporating a Company in Hong Kong
• The Hong Kong Companies Law does not impose a minimum share capital for opening a legal entity.
• However, a mandatory step for every type of company is registration with the Companies Registry.
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Steps for Opening a Laundry Business in Hong Kong
• The basic steps for company formation in Hong Kong are the following:
o choosing an available business name;
o opening a bank account;o registration with the Companies
Registry;o buying or renting the premises;o hiring employees.
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What to Consider when Starting a Hong Kong Business
• Local and foreign investors who want to open a laundry business in Hong Kong should have a business plan.
• A laundry franchise is also an option, in this case the investor benefiting from access to an already registered trademark.
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Company Taxation in Hong Kong
• Companies in Hong Kong, including laundry businesses, are taxed on their profits produced in the city.
• Double taxation relief is possible in Hong Kong.
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Assistance for Investments in Hong Kong
• If you want to open a laundry business or wish to explore other business options in Hong Kong you can request professional aid.
• One of our company registration agents in Hong Kong is able to help you with more information about doing business in the city.
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http://www.opencompanyhongkong.com/ 11