start a retail business in hong kong
TRANSCRIPT
Start a Retail Business in Hong Kong
A presentation brought to you byOpenCompanyHongKong.com
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The Retail Sector in Hong Kong
• The retail sector in Hong Kong is dynamic and the city is an important location on Asia’s overall retail market.
• Domestic and tourist consumption is targeted by many shop owners. Street shops, malls and online stores meet the necessary demand for various types of products.
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Hong Kong Retail Sub-Sectors
• Large companies as well as retail chains provide various goods on the Hong Kong market.
• The retail sector can be divided into the following major sub-sectors:
food and general retail; clothing; electronic appliances; luxury goods.
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Hong Kong’s Retail Sector Performance
• The retail sector in Hong Kong is aided by the city’s good economic performance and favourable taxation and trade regimes.
• Hong Kong has one of the world’s freest economies, with a strongly developed import/export sector.
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Opening a Retail Business in Hong Kong
• Retail business owners in Hong Kong enjoy all of the advantages of a stable and mature retail market.
• Retailers can open supermarkets, department stores, boutiques or luxury stores. Our company formation experts in Hong Kong can give you more details regarding these sub-sectors.
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Options for Foreign Retailers in Hong Kong
• Foreign retailers can open flagship stores in Hong Kong or smaller shops in the city malls. Hong Kong is a preferred market not only because of the local consumers but also the large influx of tourists.
• Foreign retail companies can open branches or subsidiaries in Hong Kong.
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Retail Business Start-Up Costs in Hong Kong
• When deciding to set-up a retail business investors can take into consideration the initial business start-up costs in Hong Kong.
• These will include the minimum share capital for the company, the registration fees, office and store rent costs and other related expenses.
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Business Compliance in Hong Kong
• Retail companies in Hong Kong need to meet the criteria and requirements for accounting and annual reporting. These requirements may depend on the chosen type of company.
• Special permits and licenses can also be necessary for companies operating in retail, especially those commercializing food and drink.
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Company Taxation in Hong Kong
• All Hong Kong registered companies must also comply with the taxation principles applicable in the city.
• Foreign retailers may be subject to special taxation schemes, under the double tax treaties signed by Hong Kong and other countries.
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Company Formation Assistance in Hong Kong
• Retailers who want to enter the Hong Kong market can request the services of a company formation agency.
• Our company formation experts in Hong Kong can help you open a company and start doing business in Hong Kong.
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