6.
7.
Permission for residence and employment is not based on requirements for on-going "guarantees" such as cash deposits, bonds, etc.
Permission for residence employment is based wholly on factors other than racial or national classifications.
Business/Legal Environment
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Hong Kong has benefitted from:
Government policy which consistently and traditionally places primacy on market forces as the principal economic determinant.
Minimal use of centrally directed incentives and disincentives, entitlements or restrictions as a means of channeling the economy according to a central development ,plan.
The lack of governmental bureaucratic or administrative approval requirements restricting foreign investments.
The simplicity of the taxation system, including filing documentation, standardization of rates and procedures, minimalization of complexity or formulae, and equality of application of tax law, procedure and rates without distinction between domestic and foreign entities.
The Hong Kong government's traditional view of tax policy and rates as a principal incentive for foreign trade and investment -- which has ensured that tax rates remain competitive with, or favorable to, other countries in the region.
An extensive body of commercial law, based on the familiar British system, which provides effective enforcement of contracts and protection of rights.
Consistent and assured access to an impartial "final arbiter" in cases of law or dispute.
The existence of a comprehensive body of company law, which facilitates a wise range of trading and investment activities and which draws no distinction between foreign and domestically owned firms.
The fact that foreign and domestically owned companies are allowed to set up offices, incorporate, register branches, etc, without strict government guidelines defining the future scope of their activities or mandating levels of performance.
The fact that companies may be structured without onerous conditions regarding ownership, management, composition of the board of directors, etc. (such as conformity with quota systems or residency requirements).
A well-managed government civil service which operates efficiently.
No comments yet.
Private notes are available after approval.