The following Commercial practice note Produced in partnership with Felix K.H.Ng, Timothy L.T. Wan, Christina H.K. Ma and, Vanessa C. Y. Wong of Haldanes Solicitors & Notaries provides comprehensive and up to date legal information covering:
The business environment
Forming a company
Financing a company
Opening a bank account
Utilising office space
Key employment laws
Contracting with third parties
Protecting key assets and employees
Hong Kong has been ranked the 'World’s Freest Economy' for over two decades according to the Heritage Foundation and is a regional business hub in Asia. According to the ‘Doing Business Survey 2020’ of the World Bank, Hong Kong is ranked the third among 190 economies in terms of ease of doing business in the world. Given its simple tax structure, well-established legal system, sound financial market, free flow of information, sophisticated workforce and the government’s long-standing capitalist 'laissez-faire' policy, thousands of multinational corporations have chosen to establish their foothold in Hong Kong.
Today, the People’s Republic of China (China) is the second largest economy in the world after the United States and is one of the fastest-growing major economies. China has been gradually transforming itself from being 'the world’s factory' into a significant consumer and financial market itself given its increasingly affluent population. Hong Kong’s geographical and cultural proximity to China, together with its international business environment and world-class infrastructure, have made it the ideal gateway for foreign investors to enter this enormous market. China's accession to the World Trade Organisation in 2001 and the subsequent Closer Economic Partnership Arrangement (CEPA) with Hong Kong which took effect in 2004
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