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Cone Marshall Group Singapore Newsletter

Why Businesses Choose to Incorporate in Singapore and Hong Kong

Cone Marshall Group is strategically located in Hong Kong and Singapore. We are committed to the growth of Asia’s High-Net-Worth families and their businesses. Our experienced team in our Asia offices assist our clients with trust structuring and the formation and administration of companies in Hong Kong and Singapore.

Selecting the optimal location to establish a business is a pivotal decision directly impacting a company’s success. When businesses consider expansion into Asia, Singapore and Hong Kong consistently emerge as top choices for incorporation. Both cities are renowned for their robust economic environments, strategic locations, and business-friendly regulations. Below is a closer look at Hong Kong and Singapore as ideal business jurisdictions in Asia.

 

At A Glance

SingaporeHong Kong
Business-Friendly Regulatory Environment
  • Efficient regulatory framework.
  • Transparent and quick incorporation process.
  • Managed and overseen by Accounting and Corporate Regulatory Authority (ACRA).
  • Straightforward registration process.
  • Minimized regulatory obstacles
  • Streamlined support for local and foreign firms
Strategic Location and Economic Landscape
  • Gateway to Southeast Asia covering over 600 million consumers.
  • Proximity to major markets including China, India, Indonesia, and Malaysia.
  • Facilitates regional trade.
  • Multilingual workforce.
  • Strong market connectivity.
  • Low unemployment rate.
  • Stable political environment.
  • Trusted destination for business operations.
  • Critical Gateway to Mainland China and leverage on Greater Bay Area (GBA) business opportunities.
  • Major financial centre with infrastructure that supports raising capital.
  • Cultural and historical connections.
  • A bridge to enhance understanding and communication to Greater China and international market.
  • Advantage in building partnerships in Hong Kong is easier than in other places.
Favourable Tax Regime
  • No capital gains tax.
  • No withholding tax on dividends paid to shareholders.
  • Corporate tax rate is fixed at 17%.
  • Start-up tax exemption for the first three years of assessment.
  • Goods and Services Tax (GST) rate is 9%.
  • No capital gains tax
  • No withholding tax on dividends.
  • Competitive corporate tax rate of 16.5%.
  • Profit tax exemption for foreign sourced profit (if not derived from activities conducted in Hong Kong).
  • No Value-Added Tax (VAT) or Goods & Services Tax (GST).
Full Foreign Ownership and Minimal Currency Controls
  • Full foreign ownership is permitted
  • No need for local partners.
  • No currency movement restrictions.
  • Flexibility in transactions and facilitated international business operations.
  • Full foreign ownership is permitted.
  • No currency controls.
  • Freedom to operate.
  • Attractive for international ventures.


Options for Company Incorporation in Singapore and Hong Kong

When considering business incorporation in Singapore or Hong Kong, entrepreneurs have several options tailored to their needs. Here’s a breakdown of the various company structures available in both locations

SingaporeHong Kong
Private Limited Company (Pte Ltd) - The most common structure for small to medium-sized businesses.

Sole Proprietorship - A business owned and operated by a single individual.

Partnership - A business structure where two or more individuals share ownership.

Limited Liability Partnership (LLP) - Combines the benefits of a partnership and a private limited company.

Variable Capital Company (VCC) - Corporate structure specifically designed for investment funds.

Branch Office – Can engage in a wide range of business activities, including trading and providing services. It can also enter contracts and generate revenue. Branch offices are subject to Singapore's corporate tax rate

Rep Office – Not a legal entity but requires registration with ACRA. It only performs non commercial functions, such as market analysis and liaison with customers. Not subject to CIT
Private Limited Company - The most popular structure for small to medium-sized enterprises.

Sole Proprietorship - A business owned and managed by one individual.

Partnership - A structure where two or more individuals operate a business together.

Limited Partnership - A partnership with at least one general partner and one limited partner.

Branch Office and Rep Office – Provide wider range of activities if business has more than one presence such as offices or shops. It is required to register Branch Office of each address and display a valid branch business registration certificate.

Incorporating in Singapore or Hong Kong offers businesses a unique combination of strategic advantages, including regulatory efficiency, economic stability, favorable tax regimes, and world-class infrastructure. These factors make both cities highly attractive for companies aiming to enter or expand within the Asian market.

The Cone Marshall Group offers company formation and administration services in Singapore and Hong Kong, including: 

  • Company Incorporation
  • Corporate secretarial services:
  • Standard company secretary administration
  • Registered agent
  • Annual return filing services; and
  • Registered office
  • Nominee local resident director
  • Compliance Review
  • Accounting Services (including bookkeeping and financial statements)
  • Accounting Services (including bookkeeping and financial statements)
  • Provision of Corporation Director

By partnering with Cone Marshall Singapore for company formation and corporate secretarial needs, our clients can anticipate

  • Bespoke Service: We recognize that each client is unique, and our dedicated team is committed to providing personalized attention to effectively meet your specific needs.
  • Compliance Expertise: Our team stays up-to-date with the latest regulatory changes to ensure that your company remains compliant with all statutory requirements, mitigating potential risks and safeguarding your reputation.
  • Confidentiality Assurance: We prioritize the confidentiality of your company structure and corporate affairs, implementing robust measures to protect your sensitive information.
  • Timely Execution: We prioritise efficiency and responsiveness, ensuring that your Singapore entity’s administrative tasks are executed with precision and expedience.
  • Value-driven Solutions: Our transparent and competitive pricing structure is designed to deliver exceptional value without compromising on quality or service excellence.

If you would like to discuss your company registrations in Singapore and Hong Kong with incorporation experts, please contact us.

Cone Marshall Singapore: Andy Tsang – Email: atsang@conemarshall.com Tel: +65 98556651 

Cone Marshall Hong Kong: Ada Ng – Email: ang@conemarshall.com Tel: +852 3622212

Cone Marshall Limited

Floor 3, 32 Mahuhu Crescent, Auckland Central, Auckland 1010
PO Box 137069, Parnell, Auckland 1151
New Zealand

+64 9 307 3950

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