• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
GO TO EXPAT LIVING SINGAPORE
GET OUR NEWSLETTER

Expat Living Hong Kong HomepageExpat Living Hong Kong

Moving to Hong Kong and not sure where to start? Expat Living is the essential lifestyle guide to living in Hong Kong.

Menu
  • Living In Hong Kong
      • Living Here
      • Where To Live
      • Schools
      • For Guys
        • Finternational-womens-day-female-entrepreneurs-in-hong-kong-jane-engelmannWomen who have made a difference: #4
        • school interviews Ruth BennyTips for school interviews (PODCAST)
        • Serviced apartments and places to stay in HK
        • outdoor activities18 outdoor adventures in Hong Kong
      • View all
    Close
  • Things To Do
      • Things To Do
      • What’s On/Calendar
      • Competitions & Offers
        • What to watch this month
        • Woman’s Hour PodcastGreat podcasts we are listening to!
        • outdoor activities18 outdoor adventures in Hong Kong
        • Mount Davis - viewHiking Ideas: A Mount Davis Meander
      • View all
    Close
  • Kids
      • Activities & Things To Do
      • Education & Enrichment
      • Health & Wellness
      • Mums & Babies
      • Podcasts
      • Kids Offers
        • school interviews Ruth BennyTips for school interviews (PODCAST)
        • School news - new schools in Hong Kong, new curriculums, new facilities and more!What’s new on the school scene?
        • Pregnancy scan image for web article on how to choose an obstetrician in Hong KongHow to choose an obstetrician
        • Baby spit upReflux in newborns: tips and treatment
      • View all
    Close
  • Homes
      • Home DΓ©cor
      • Readers Homes
        • Dining tables and chairs - TREEWhere to go for dining tables
        • Home news: dΓ©cor, furniture & more!
        • Townplace Soho - barProperty Watch: An urban oasis in Soho
        • Top furniture finds for your home office
      • View all
    Close
  • Travel
      • Short Breaks
      • Further Afield
      • Travel News & Offers
        • Mount Davis - viewHiking Ideas: A Mount Davis Meander
        • Gorgeous waterfalls around the world
        • Travel news: Places to stay and play
        • MongoliaWomen on a Mission take on Mongolia
      • View all
    Close
  • Wine & Dine
      • Recipes & Groceries
      • Bars & Restaurants
        • Fiamma Italian restaurant - tortelliniTaste Test: Peak Italian Cuisine at Fiamma
        • Vegetarian recipe: Vietnamese rice roll with quorn mince and bolognese sauce5 meat-free meal ideas to try
        • Indian-Restarants-New-Punjab-ClubTop Indian restaurants to try
        • Fagara Aperitivo - Hong Kong restaurantsNew nibbles: where to dine this month
      • View all
    Close
  • Style & Beauty
      • Fashion
      • Hair & Beauty
        • laser treatments hong kongHow to get super smooth skin
        • Tried & Tested: Body lotions we love
        • online shopping websites21 fashion websites shipping to HK
        • Mazu ResortwearFashion news: the latest launches
      • View all
    Close
  • Health & Fitness
      • Medical & Dental
      • Fitness
      • Wellness
        • Gyms in Hong Kong - best places for keeping fit8 great places to go to keep in shape
        • Pregnancy scan image for web article on how to choose an obstetrician in Hong KongHow to choose an obstetrician
        • menopause - symptoms and how to get helpManaging menopause: how to get help
        • heartAre you at risk of heart disease?
      • View all
    Close
  • Shop
      • Magazine
      • Advertise With Us
        • Mar-May 2021
        • Mar-May 2021 – $36 (Usual Price $48)
        • December – February 2021
        • DEC-FEB 2020 – $36 (USUAL PRICE $48)
      • View all
    Close
Home Β» Living In Hong Kong Β» Living Here Β» Doing business in Hong Kong versus Singapore

Doing business in Hong Kong versus Singapore

16 April, 2018 by Expat Living 3 Min Read

https://expatliving.hk/doing-business-hong-kong-versus-singapore/

Singapore and Hong Kong are both attractive places to set up and run a business. Hong Kong has been a global business hub for decades, but Singapore is fast closing the gap. Both offer advantages to ex-pats and big corporations. So, whether you are looking to learn more about how to trade currency or you have plans to set up a regional headquarters for your global business, here is a guide to doing business in Hong Kong and Singapore.

Tapping into the Asian Markets

Both Hong Kong and Singapore are perfectly located for access to the lucrative Asian markets. Changi Airport and HK International Airport are global hubs for international air travel, with all key Asian cities within easy reach. Both countries also have ports, but Singapore has the top destination for maritime trade. Hong Kong is better you are looking to do business in Mainland China.

Ease of Doing Business

Both Singapore and Hong Kong have strong legal systems, with strict regulatory frameworks in place to protect intellectual property rights and dispute resolution channels if things go wrong. However, Singapore beats HK when it comes to enforcing contracts and property registrations.

Not surprisingly, Singapore achieved a #2 spot on the World Bank’s 2017 Ease of Doing Business list. It was beaten only by New Zealand. Hong Kong was ranked at #5.

In the annual Z/Yen survey of global financial centres, Hong Kong beats Singapore. As the gateway to China, Hong Kong is the third most powerful financial centre in the world. Singapore has fallen to #4. The survey looks at several factors, including infrastructure, business environment, financial sector development, human capital, and reputation.

Based on both surveys, it’s clear that there is not much between the two locations, but if you are in the financial services or fintech sector, Hong Kong probably takes the lead.

doing business in Hong Kong - city skyline
Hong Kong offers many advantages

Starting a Business

The World Bank’s 2017 Ease of Doing Business list puts Singapore at #6 and Hong Kong at #3. Both countries make it very easy to start a business. Both countries welcome foreigners with open arms. In addition, foreigners enjoy 100 percent ownership of their company, but there are differences if you elect to incorporate your business.

In Singapore, at least one director must be locally registered with the Singapore government and attend your annual meeting. This will necessitate a degree of involvement in the day-to-day running of the business. In Hong Kong, all directors can be foreign, but your company secretary must be a Hong Kong national or a Hong Kong Registered limited company. It is
often sensible to employ a local firm of accountants to take on this role, as this allows them to liaise with the tax authorities on behalf of the directors.

It’s very easy to start a business in Singapore – you can register your business in less than an hour and be up and running in two days. The Singapore government makes starting a business nice and easy, which encourages an entrepreneurial spirit, especially among foreign ex-pats.

Singapore has double taxation treaties with 60 nations around the world, which offers huge tax benefits for business owners. The headline Singapore tax rate is currently 17 percent whereas, in Hong Kong, companies pay 16.5 percent. There are also many tax exemptions available.

The process of starting a business in Hong Kong is also fairly simple. Applications can be submitted online via the Companies E-registry. The entire process of business registration and incorporation can be completed in less than an hour if done online.

Quality of Life

Life isn’t all about work, so looking at the quality of life in both countries is important. Both Singapore and Hong Kong offer a wonderful quality of life with excellent food, healthcare, and a cosmopolitan lifestyle that suits westerners.

There is not much between Singapore and Hong Kong if you’re looking to access the Asian markets, but if you take the Ease of Starting a Business rank as your benchmark, Singapore might just have the edge, however Hong Kong is the business destination with lower taxes and tax exemptions.

Read more about doing business in HK in our Living in Hong Kong section:

Are you looking for a job in Hong Kong?

10 tips for getting a job in Hong Kong

Your guide to getting started

Categories: Living Here Living In Hong Kong Where To Live Tags: Business Business Opportunities Working in Hong Kong

You May Also Like

Townplace Soho - bar

Property Watch: An urban oasis in Soho

Charity Focus: Hike for Freedom

International relocation - costs

The changing costs of relocation

Primary Sidebar

Expat Living Hong Kong πŸ‡­πŸ‡°

expatlivinghk

Open
* Friday GIVEAWAY *

We have teamed up @janeeveinteriors to give one lucky winner two beautiful handmade scented candles from Jane's β€œRefresh Me” and β€œRelax Me” ranges.  Here's how to have a chance of winning:

1. Like this post
2. Follow @janeeveinteriors  on Instagram
3. Enter your details via the competitions section of our website - link in our bio.

Good Luck! 🀞🏻

#hongkong #hkig #hk #discoverhongkong #hkiger #fridaygiveaway #giveawayhk #winwinwin #handmadehk
Open
There's so much to love in Jen and Jeff's Happy Valley flat, for the full story head over to our website, link in bio. @moftstudio 

#hongkong #discoverhongkong #hkig #hkiger #hkinteriordesign #hkinterior #balivibe
Open
Ever wondered what it is like to live in Tai Hang? EL reader Neelam Daswani @neelampurehealth gives us the lowdown. For the full story and Neelam's recommendations see our MARCH-MAY issue.

#hongkong #discoverhongkong #hkiger
Open
❀️HK❀️

#hongkong #discoverhongkong #hkig #hkiger #view
Open
* Friday GIVEAWAY *

We have teamed up @gingerjarlampco to give one lucky winner a stunning Ginger Jar Lamp worth $4,000!  Here's how to have a chance of winning:

1. Like this post
2. Follow @gingerjarlampco on Instagram
3. Enter your details via the competitions section of our website - link in our bio.

Good Luck! 🀞🏻

#hongkong #hkig #hk #discoverhongkong #hkiger #fridaygiveaway
Open
Jo Lodder and Catherine Cormack recently set out to raise much needed funds for @stop.hk and @tails.lantau by tackling Hong Kong’s famous hiking trails over four days in March.  To find out how they got on, head over to our website to read all about it, link in bio.

#hongkong #hkig #discoverhongkong #hkig #hikeforfreedom #hkhiking #hkhiker #adoptdontshop #stophumantrafficking
Open
πŸ“Έ @ colsimphotography

#hongkong #hkig #hk #discoverhongkong #hkiger
#photography #photooftheday #streetphotography #streetsigns #hkstreet
Open
A chocolate overload and cute little bunnies – what’s not to like about Easter celebrations? We’ve rounded up some things to do in Hong Kong for a cracking good time over the break - check out the full article on our website - link in bio.

#hongkong #hkig #hk #discoverhongkong #hkiger #easter #eastereggs #easterbunny
Open
Whether you're a newbie or have been here a while, our guide is sure to help you make the most of living here.  Read it for free on any device πŸ‘‰ expatliving.hk/cg/ig
Open
Beaches and swimming pools are progressively re-opening πŸŠβ€β™€οΈπŸπŸ‘πŸ‘

#hk #hkig #hkiger #hkbeach #hkpools
Open
*Friday Giveaway*  Win one of 50 Early Access Passes to the Affordable Online Art Fair 2021. Like this post & enter your details via the competitions section of our website - link in our bio

Good Luck! 🀞🏻

#hongkong #hkig #hk #discoverhongkong #hkiger #art #affordableart #affordableartfair #giveaway
Open
Jo Lodder and Catherine Cormack are currently on a Hike for Freedom, tackling four trails – the Maclehose, Hong Kong, Wilson and Lantau – to raise money for two organisations doing incredibly important work. @stophk - a charity that strives to put and end to human trafficking in Hong Kong and @ tails.lantau - an animal rescue organisation based on Lantau. The Hike will cover 300km and 18,600m in elevation over just four days! 

Read the full article on our homepage - link in bio - including how you can donate and follow their progress.

#hikeforfreedom #hkhiking #adoptdontshop #hongkong #hkig
Open
In our new spring issue we take a look at Jenny Perry's  impressive village house renovation in Sai Kung 🏑 there's so much to love! Check out the article for all her tips and local recommendations πŸ‘‰ link in bio
Open
Read our latest Spring issue on any device for free πŸ‘‰ expatliving.hk/digital/FB/

In this issue, we’ve got some of the best finds to make your home office functional and looking good. We also check out two beautifully renovated homes, get an insider’s guide to Tai Hang and discover home-decorating trends and the latest properties on the market.

There's loads more, including great Mexican food, easy recipes from our team, beauty tips and facials to try, and a look at Hong Kong’s country parks and hiking trails.

πŸ‘¨β€πŸŽ“ Plus, an eight-pager School Special! Everything from getting your kids IB-ready and enrichment options to great advice on battling bullies and trolls.
Open
* Friday GIVEAWAY *

We have teamed up with Assaggio to give one lucky winner a fabulous 35oz Fiorentina T-Bone Steak & Seafood Set Dinner for Four, worth $2,488!Β  

Featuring the 35oz Fiorentina T-Bone Steak served on a red hot sizzling iron plate with rosemary, the set dinner comes with Seafood Platter (Oyster Fine de Clair, Alaska King Crab Leg, Black Mediterranean Mussel, Veraci Clam), Kobocha Pumpkin and Tomino Cheese Soup, and Italian Black Truffle Tagliolini.Β 
Finally, wrap up the meal with the signature dessert trio: Tiramisu, Panna Cotta and Wild Berry Sorbet.

Sound good?

Here's how to have a chance of winning:

1. Like this post
2. Follow @miradining on Facebook
3. Enter your details via the competitions section of our website - link in our bio 

Good Luck! 🀞🏻
Open
πŸ“· @colsimphoto we love his new collection #hongkonginmotion
Open
We are looking for readers to tell us about their area and why they love it.

We will send you some questions to answer and feature you in the Street Talk section of our print magazine and will also publish it online.

Drop us a PM with some info of where you live and we will get our team to be in touch 😊
Open
One of the many ways to enjoy HK’s waters! Head to our website for a comprehensive guide, link in bio. πŸ“· @ wanchaibelle
Open
Love a tasty taco, a classic plate of nachos or a frosty margarita? 

We recently road tested 3 Mexican restaurants – read the full reviews in our March magazine βœ¨πŸ“– or online – link in bio.
@taqueriasupermacho 
@elmachohk
@tqmhk
Open
HK resident and award-winning artist Martin Lever recently spent 14 days in quarantine. Inspired by the mountain view, he created a stunning series of artwork, The Room 202 Project. 

What's more, Martin has teamed up with ImpactHK and is selling limited-edition digital prints – 50% of sales will  support HK's homeless.

For the full story, head to our website – link in bio.
  • COMPETITIONS & OFFERS
  • About
  • Advertise
  • Contact
  • Privacy
  • Subscribe

© 2021 Expat Living Hong Kong, All Rights Reserved.