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According to the 2023 Policy Address recently delivered at the Hong Kong SAR Legislative Council, Chief Executive John Lee expressed that Hong Kong government will focus on attracting talents and businesses.
In order to encourage foreign companies to register and relocate to Hong Kong, starting from October 26, 2023, foreign nationals who register companies in Hong Kong can apply for a "Multiple Entry Permit" visa for two years or more to the Chinese Mainland through the China Visa Application Service Center in Hong Kong.
Also, the processing of these applications will be expedited, to facilitate business negotiations for foreign individuals based in Hong Kong SAR who need to travel to the Chinese mainland.
Hong Kong is an international metropolis with a highly liberalized trade environment and no foreign exchange controls. Companies registered in Hong Kong are permitted to open foreign bank accounts and benefit from low tax rates in the region.
Due to these advantages, many foreign companies opt for Hong Kong SAR as their investment vehicle into Chinese mainland.
If you plan to register a company in Hong Kong, or to develop your global business with advantages HK SAR offers for offshore companies, now it is the best time.
*The opinions expressed in the article are solely those of the author.*
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