Hong Kong has no tax haven status like other countries where you must fear that things change quick due to economic crisis or international rules against tax havens. It has a stable economy but extremely low taxes so that it really is generally considered a tax haven.
Quick tax overview:
· No tax on capital gains
· No VAT
· Maximum Profits Tax: 16.5%
· Maximum Salaries Tax: 17%
This favorable constellation makes it really interesting not only to set up a business for business purposes itself. It might be interesting for you to hold your assets with your own company. Remember: no tax on capital gains! Or you might even want to live in the most exciting and vibrant city of Asia.
All this is possible with your own business. If you can show that the local economy profits from your business through paying (low) taxes or employing locals, it really is quite easy to become a Hong Kong resident and even permanent resident. You will also get your own working visa by employing yourself. This allows you to live in a very interesting and exciting city and pay only minimal taxes. Hong Kong taxes are territorial taxes, so even when you live in Hong Kong, you do not have to pay taxes for any income gained from any other country.
If you want to use Hong Kong as an individual tax haven or a tax haven for your business it's a good place for both of it. Compare your current tax situation with how it could be in this jurisdiction.
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