What are the legal advantages of Hong Kong?
Hong Kong's advantages are not limited to tax and banking. The territory also has a distinctive legal framework based on Common Law.
Understanding this system provides a better grasp of setting up and operating a company in Hong Kong.
What is Common Law?
Two major legal systems
Worldwide, there are two main legal systems: civil law and common law. Hong Kong applies common law, while civil law predominates in Europe.
A right based on case law
In Hong Kong, the rules are based in part on case law. This is a much more flexible and less prescriptive system than the one applied in Europe.
A framework that assumes compliance with the rules
The advantages of the legal system presuppose that the company complies with the applicable regulations. The framework should not be equated with a tax haven or a structure designed to circumvent the rules.
Setting up and managing a company in Hong Kong
English is a reference language
Chinese is not the only language used for business. English is widely used, and documents related to setting up the company can be prepared in English.
Support for the Asian market
Business practices in Asia may differ from those encountered in Europe. Guidance can help you better understand these specificities.
An optimized registration process
The registration process is streamlined in Hong Kong. Support packages can cover the various stages of setup and ongoing management.
Before launching your company, the aspects specific to your business must be validated. Société HK has been supporting entrepreneurs in Hong Kong for over 20 years and keeps up with developments in the local legal framework.
Legal advantages should be considered alongside the banking and tax aspects of the project.