Company Formation Comparison: Singapore Vs. Hong Kong

Company Formation Comparison: Singapore Vs. Hong KongA presentation brought to you by OpenCompanySingapore.com

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Business Environment in Singapore and Hong Kong

• Singapore and Hong Kong are two of the most spectacular countries in the world when it comes to infrastructure and real estate development. 

• The countries have another thing in common: they are both two of the most liberal economies in the world.

• Below you will find a brief comparison between the company formation procedures in Singapore and Hong Kong.

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Opening a Company in Singapore >>

• Even if Singapore ranks the same as Hong Kong in terms of economy, the World Bank has chosen the city-state to be the easiest country to do business in several times in row.

• So, when deciding to open a Singapore company, one should really take this into consideration. 

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>> Opening a Company in Singapore

• According to the same World Bank, the company registration process in Singapore consists in three steps:

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registering with the Accounting and Corporate Regulatory Authority;

obtaining the company seal; registering with the Employee

Compensation Insurance Agency.

Opening a Company in Hong Kong• If the 

company incorporation procedure takes three steps to be completed in Singapore, opening a company in Hong Kong only takes two steps: registering with the Companies Register;

registering for social insurance purposes.

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• The company formation procedures would be completed in one day, no matter if one decides to open a company in Singapore or in Hong Kong.

Company Formation Costs in Singapore and Hong Kong

• Considering the company registration requirements are pretty much the same in Singapore and Hong Kong, it is all reduced to the costs related to start a business and the advantages for foreign investors.

• When it comes to the costs, it is definitely cheaper to open a company in Singapore.

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Why Choose Singapore over Hong Kong? >>

• When it comes to choosing between Singapore and Hong Kong one must only pay the company incorporation fee and the company seal in Singapore.

• In Hong Kong the costs imply the company name reservation, the company registration fee and another levy with the Companies Register.

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>> Why Choose Singapore over Hong Kong?

• When it comes to legislation on foreign investments, Singapore overtakes Hong Kong because it requires no share capital to open a company, whereas Hong Kong requires a minimum amount of 10,000 HKD for the registration of a limited liability company.

• Singapore also offers numerous tax incentives to foreign investors.

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Singapore – Hong Kong Limited Tax Treaty

• The following taxes are covered by the Singapore-Hong Kong limited tax agreement which was enforced in 2005:

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the income tax in Singapore; the profits and the salaries taxes

in Hong Kong.

• Our Singapore company formation agents can offer more information on the agreement with Hong Kong.

Company Registration Services in Singapore

• For assistance in opening a company in Singapore , do not hesitate to contact our local company formation experts.

• You can also rely on our company registration agents for information on the legislation on foreign investments in Singapore .

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Thank you for your attention!

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+ 852 8191 3385

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www.opencompanysingapore.com11