Our partner Mr. Thomas Wong has been representing InvestHK of the Government of the Hong Kong Special Administrative Region as the Investment Promotion Ambassador since 2014. With his connections in Hong Kong and extensive overseas network especially in Latin America and other Spanish & Portuguese speaking countries, he has continuously supported InvestHK and brought in foreign corporations to set up their businesses in Hong Kong.
On 4 February 2019, Thomas was re-appointed as an Investment Promotion Ambassador of InvestHK, the Government of the HKSAR and his term has been extended until 31 December 2021.
As a born and bred Hong Kong native, Thomas sees Hong Kong as a vibrant international business and financial hub with plentiful of opportunities for entrepreneurs, startups, regional headquarters and import/export trade. Hong Kong was ranked as the world’s freest economy for the 24th consecutive year; an ideal place for overseas and Mainland companies to run their operations. Geographically located at the Southern gateway to Mainland China with close access to the Greater Bay Area as well as APAC countries, Hong Kong has positioned itself to become the world city of Asia.
Enterprises set up in Hong Kong also benefit a two tiered profits tax rate introduced by the Hong Kong Government in 2017. Under the regime, the tax rate for the first HK$2 million of profits of enterprises will be lowered to 8.25%, or half of the standard profits tax rate (16.5%). According to InvestHK’s report, there are a total of 8,754 companies with parent companies outside of Hong Kong and 1,530 regional headquarters. In fact, Hong Kong’s startup and Fintech ecosystem has been active and expanding in the past few years. The number of startups has increased 18% to 2,625 with over 550 Fintech companies sourcing from 2018 Startup Survey. The top business sectors include Fintech, e-commerce/supply chain management/logistics technology, computer and technology and more.
Picture: Thomas and Mr. Stephen Philips, Director-General of InvestHK