Start a Laundry Business in Hong Kong

Start a Laundry Business in Hong KongA presentation brought to you by OpenCompanyHongKong.com

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Commercial Laundries in Hong Kong

• Opening a commercial laundry in Hong Kong can be a lucrative business.

• Investors who choose to do so can find a suitable location where clients in the city will regularly use their services.

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Starting a Laundry Business in Hong Kong

• Laundries and Laundromats in Hong Kong are popular because some of the apartments in the city lack the needed space to accommodate large washing machines and driers.

• Instead of cluttering their own homes, Hong Kongers will use the services provided by a laundry.

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Open a Laundry Businessin Hong Kong

• When deciding to open a laundry in Hong Kong investors can start by choosing a neighbourhood or location, typically in the residential areas.

• Kowloon and other parts of the city are often sought by those who want to purchase a property in Hong Kong for residential purposes.

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Requirements to Open a Laundry in Hong Kong

• A laundry business operates as a Hong Kong incorporated legal entity.

• Investors will open a Hong Kong company and then buy or rent a location for the Laundromats.

• The basic requirements to open a laundry in Hong Kong are as for any other type of business.

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Incorporating a Company in Hong Kong

• The Hong Kong Companies Law does not impose a minimum share capital for opening a legal entity.

• However, a mandatory step for every type of company is registration with the Companies Registry.

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Steps for Opening a Laundry Business in Hong Kong

• The basic steps for company formation in Hong Kong are the following:

o choosing an available business name;

o opening a bank account;o registration with the Companies

Registry;o buying or renting the premises;o hiring employees.

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What to Consider when Starting a Hong Kong Business

• Local and foreign investors who want to open a laundry business in Hong Kong should have a business plan.

• A laundry franchise is also an option, in this case the investor benefiting from access to an already registered trademark.

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Company Taxation in Hong Kong

• Companies in Hong Kong, including laundry businesses, are taxed on their profits produced in the city.

• Double taxation relief is possible in Hong Kong.

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Assistance for Investments in Hong Kong

• If you want to open a laundry business or wish to explore other business options in Hong Kong you can request professional aid.

• One of our company registration agents in Hong Kong is able to help you with more information about doing business in the city.

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