What are some of the most suitable Asian jurisdictions for expanding an IT business? We look at cities that offer important advantages to investors not only in Asia but also globally.
When deciding to expand a business, trade freedom, investor protection, the taxation principles and the overall ease of doing business are good issues to keep in mind when making the final choice. Lastly, an important decision investors will need to make is whether they will open a branch or a subsidiary in the chosen Asian location.
Singapore, a top Asian city
Singapore is one of the most attractive destinations for international entrepreneurs in the world, not only in Asia. The IT and startup ecosystem are well-developed and the easy company formation process is an advantage for investors who wish to open a private limited company in Singapore.
The low-taxation regime is another important plus for investors, along with the fact that English is the official language. In terms of ease of doing business for foreign investors, Singapore and Hong Kong have been competing for the first place in Asia; however, both locations offer important advantages, with an emphasis on low taxation and easy company formation.
Hong Kong, one of Asia’s business hubs
Hong Kong is an important choice among investors who wish to expand to the Asian market due to its proximity to Mainland China. In terms of business advantages, Hong Kong remains one of the top financial centers globally, with low requirements for opening a company for foreign investors.
The corporate income tax rate is also a low one, albeit slightly higher than that in Singapore. Both Hong Kong and Singapore, as well as other top Asian cities, have a growing pool of skilled IT specialists.
Expanding an existing business is an important choice, which can have a significant impact on the company.
The Asia-Pacific region is one that continues to offer important business opportunities. Hong Kong, Singapore, Kuala Lumpur, and other Asian cities can offer interesting options for expansion, especially for IT businesses. The competitiveness of the market, the business incorporation, reporting and taxation requirements are all issues that should be taken into consideration when expanding a business to a new continent.
Overall, Asia can offer unique market opportunities to IT companies interested in expansion.
IT OUTSOURCING INTERNATIONAL COMPANY SRL023361, Romania, Bucharest