Opening a company in Hong Kong is a dream come true for many investors because of the huge potential to grow both internally and externally. For many people, Hong Kong is appealing because of the government support through various programs that help startups establish faster and become big multinationals.
Other benefits for entering and doing business in Hong Kong include;
- Favorable tax regime
- It is a global financial hub
- Hong Kong is the gateway to China and the entire Far East
- You can qualify for 0% tax if all the businesses are conducted outside Hong Kong.
Once the company has been incorporated, the next step is identifying a good office and starting operations. This is an uphill task for many investors because the main focus is starting the business. In this post, we demonstrate how a company can get a good business center Hong Kong.
Establish the nature of your business to determine the best type of office
What is the nature of your company? Are you dealing with services or major consumer goods? The type of office you need will be determined by the nature of the company. If you are a company dealing with tech applications such as mobile apps development, the best office should be near the main Hong Kong Supported programs such as Cyberport, Hong Kong Science & Technology, and the Design Center. This is because these programs are equipped with special facilities that your company might require.
You might also want to seek regions close to other high-tech facilities to help pool resources and make operations easy. For example, if a company is in laboratory and health niches, it is important to position it close to producers or other related operators. Note that even in such areas, due diligence is critical to ensure that your business model fits well in line with the main objective.
Find out what the new office will require
As a company, picking a physical office means paying rent and installing all the operational facilities. Even before submitting company registration documents, it is important to conceptualize how the ultimate operations will run. For example, if you are planning to set up a legal office, it is important to conceptualize how the layout should be and ultimate outlook when fully operational.
The most important components to look for in a new office include;
- Reliable internet supply
- Mailing services
- Water supply
- Power supply with a backup
- You have to be prepared with enough rent for several months. It is important to be prepared to meet the office cost for a period of up to 6 months or more before cash can start flowing.
Liaise with Hong Kong real estate agents to view their offers
Most offices in Hong Kong are leased by real estate companies that have good websites for direct liaison with potential tenants. Simply check for the top real estate agents in Hong Kong and you will be surprised the large collections of offices that one can select from.
Because real estate agents have a specialty in commercial and residential premises, they can show some options so that only the best is selected. Besides, they even maintain a list of the offices that are about to fall vacant so that new companies can pick the best. Once you identify a preferred office, ensure to read through the tenancy agreement well and pay after getting convinced that the premise is the best.
Carry comprehensive research on different buildings and available placement
Because of the high competition for space in Hong Kong, some big buildings are owned by companies that lease them directly to tenants without using agents.
Therefore, you can follow buildings by their names to see whether the respective companies have listed vacancies. This is a great option since it takes you right in the heart of Hong Kong which is about to become your home after starting the main company operations.
Note that once you note that a specific building as a vacancy, it is important to liaise with the people who are responsible for more details. You have to be extra careful by conducting due diligence to avoid falling into the hands of scammers. A good way to do this is reaching other tenants in the building with a vacancy and seeking confirmation about the authenticity of the management.
Use the expert company registration office to pick the best office
Because of the complexity involved in registering a company, many are the people who prefer to use agencies such as HTF to cut on cost and hasten the process. Since the agency is located in Hong Kong, it is important to include getting a physical address as part of its obligation.
Having been in Hong Kong for years, it will be easy for the agency of choice to pick a good office to suit your business operations.
Note that such requirement should be included in the original agreement with the agency before the process of business registration commences. Besides, an additional fee might be included to cater for the additional duties. However, it will be more convenient because the agency staff can do the walking for you to identify an ideal place for the company.
Use your consular office to link with local real estate firms and property owners
If you come from a state that has a consulate office in Hong Kong, it can be a great point to commence when looking for offices. Consulate offices operate in a network that ropes in the government agencies and other stakeholders that can help to get you some space. You only need to let the ambassador understand your objectives to get the requisite help.
Working with your consulate office can also help to build a bigger network of people from back home. If they came to Hong Kong earlier, they would be of great help in ensuring the company gets a perfect place of business. However, you must appreciate that everything narrows down to the business structure and its key objectives.
Make sure that the selected office can easily draw the clients you are targeting and the business can get the most important services such as front office services, secretarial services, and the internet.
If you establish that the initially selected office is not ideal and want to shift, the company registrar must be notified to change the address. You might also need to notify the bank and change the account details.