Hong Kong

HONG KONG

 

 I.  Facts*

Population:                              7 million
2021 GDP (Gross Domestic Product): US$ 369 billion
2021 GDP per capita at PPP (Purchase Power Parity): US$ 65,403
Human Development Index: 4
Big Mac Index: US$ 2.70 (USA: US$ 5.65)

 

In comparison:

 

Germany

 

Population: 83 million
2021 GDP: US$ 4.23 trillion
2021 GDP per capita PPP: US$ 58,150
Human Development Index: 6
Big Mac Index: US$ 5.02

 

Thailand

 

Population: 68 million
2021 GDP: US$ 546 billion
2021 GDP per capita at PPP:    US$ 19,028
Human Development Index: 79
Big Mac Index: US$ 3.90

 

 

II.  Opportunities and Challenges

 

Opportunities

 

  • Highly developed legal system
  • Very few regulations imposed on businesses and the overall economy
  • Low Taxes
  • Financial Centre of Asia
  • Investment gateway to Mainland China
  • Very well-developed infrastructure
  • Politically stable

 

Challenges

 

  • Highest costs of living in the world
  • High dependency on exports
  • Land and housing is very expensive
  • High rate of inflation
  • Poor air-quality
  • Slow and very expensive legal system
  • English language abilities of local workforce in decline

 

 III. What we do in Hong Kong

 

We are registered with the Law Society of Hong Kong since 2007 and belong to the Lorenz & Partners Group which was established in 1995 in Bangkok. We do:

  • Company and Joint Venture Formation
  • Project Management Assistance
  • Corporate and Commercial Law for Hong Kong and Mainland China
  • Tax Law and Tax Planning
  • Business and Management Advice
  • Licensing and Company Incorporation, including Corporate Re-structuring
  • Back Office Services
  • Accounting and other Corporate related Work
  • Advice on German and Hong Kong Cross-border Transactions
  • Enforcement of Intellectual Property Rights in Hong Kong and Mainland China

 

IV.  Recent Projects

 

  1. Commercial law

 

Our firm assisted a major international player in the restructuring of their Hong Kong company and subsidiary located in Shanghai. We also assisted a large international commercial group in a share transfer and restructuring. This has included the introduction of a new shareholder, a loan transfer, an increase in investment capital and business line expansion.

 

  1. Intellectual Property

 

Our firm assisted clients in enforcing their licence agreements and preventing future intellectual property rights infringement of their technology.

 

  1. Incorporation

 

Our firm is regularly assisting clients in incorporating and establishing limited liability companies in various industry sectors.

 

  1. Inheritance

 

Our firm was instructed to assist in cross-border inheritance matters involving multiple jurisdictions including Germany and Hong Kong as well as complex circumstances.

 

V.  Further Reading (some key publications)

 

  1. BR029D Investitionen und Steuern in Hongkong
  2. BR060E Liquidation of a Private Hong Kong Limited Company
  3. NL081E Income Tax Liability for Hong Kong Employees who Render Services Outside Hong Kong
  4. NL086E Profits Tax Liability for Businesses in Hong Kong
  5. NL177E How to Inherit Shares in a Hong Kong Company and Enforce Certain Shareholder Rights
  6. NL180E A Hong Kong Company’s Board of Directors – Function and Liabilities
  7. NL182E Minority Shareholder’s Rights in Hong Kong
  8. NL234E Secondment to Hong Kong

 

For our complete range of publications please click here.

  

 VI.  Further queries on Hong Kong? Get in touch

 

We welcome all Hong Kong related legal inquiries. Please use the contact form on our website to get in touch.

 

Our targeted clients are medium-sized and large corporations which intend to set up or which are already established in Hong Kong.

 

E-mail: [email protected]
Telephone: +852 2528 1433

Address:
Lorenz & Partners (Hong Kong) Ltd.
Flat/RM A, 12/F, Ritz Plaza,
122 Austin Road, Tsim Sha Tsui,
Hong Kong SAR