The Hong Kong Special Administrative Region, full name Hong Kong Special Administrative Region of the People’s Republic of China, is located on the southern coast of China, adjacent to Shenzhen in the north, backed by the Pearl River Estuary and Macau in the west, and facing the South China Sea in the south. It has a superior geographical location. As the world’s third largest financial center, Hong Kong is a prosperous, open and international metropolis.
The characteristics of Hong Kong’s economy are free trade, low tax rates, no foreign exchange controls, and little government intervention. The business environment is very friendly.
First of all, Hong Kong’s free trade port has obvious advantages, simple procedures and high customs clearance efficiency. Except for goods exempted from customs declaration (goods worth less than 4,000 Hong Kong dollars are exempt from customs declaration), other goods must submit import and export declaration forms to the customs within 14 days after import or export. There will be a fine for overdue. In addition to Hong Kong’s lack of foreign exchange controls, free capital exchange, and low tax rate policies, such a good business environment is particularly attractive to mainland investors.
Hong Kong’s taxes mainly include: profits tax, salary tax, property tax, stamp duty, etc.