Starting a business in Hong Kong as an ex-pat is exciting and can be a rewarding experience for all. The high quality of life in Hong Kong, the high standard of living, and tax-free income are all contributing factors that make a living in Hong Kong a viable option for many. For those coming to Hong Kong to work or study, the benefits of starting a business in Hong Kong are too good to pass up. With so many opportunities and choices for earning income, the possibilities are endless for ex-pats coming to Hong Kong to start a new life here. Here are some benefits of starting a business in Hong Kong as an ex-pat.
First, there are no taxes payable to Hong Kong’s government for starting a business in Hong Kong as an expat. It contrasts with China, where taxes are hefty for an expatriate doing business in the country. With the many ways to earn money in China, the ex-pat will have to pay any taxes to stay on. Hong Kong is correctly set up to offer a tax-free existence to an ex-pat with a business.
Besides, once an ex-pat has established a business, they can access the best education and healthcare available worldwide. The high quality of life that an ex-pat brings to their home cannot be measured in money alone. It creates a sense of security for an ex-pat wanting to start a new life in a new city.
Next, another benefit is that most laws about working in the country will apply to you. It includes taxation issues, work contracts, and even import/export duties. Working in Hong Kong as an ex-pat means that you will know the rules of the land. Additionally, most ex-pats tend to make friends with the locals and become good at networking with them. Thus, they can use their social network to help in terms of locating services that they need.
Starting a business in Hong Kong as an ex-pat is also beneficial for the expat’s family back home. You will come to learn a lot about the local culture when you start a business in Hong Kong. You will probably meet some locals who will welcome you with open arms. As an ex-pat, you can be sure that your family will feel welcomed into the new life you create for them. They will be happy to help you settle in and be very helpful when you need them.
Lastly, working in Hong Kong as an ex-pat can give you an invaluable understanding of the Chinese language. Having spoken it since childhood, I have an excellent command of the dialect. It will come in handy once you start interacting with the locals. Plus, many ex-pats find that their working holiday in China is a teaching opportunity. By speaking the Chinese language, you will improve your ex-pat skills and feel more prepared for your return home.
On your business trip, you may also want to visit some tourist attractions. And when you do, you may want to get your picture taken with one of them. Many of these places also allow you to take a photo with their resident star. Such opportunities will enable you to build up the right personal image in Hong Kong as an ex-pat. And this, in turn, will boost your confidence as you begin your new life in China.
So, if you’re thinking about starting a business in Hong Kong as an ex-pat, then you really cannot go wrong. Many great opportunities are waiting for you here. And it’s also an excellent place for doing business if that’s what you choose to do. You’ll enjoy your new life in China as an ex-pat, and in time you’ll be able to say that it was a great decision to start a business in Hong Kong.