Hong Kong Geography, Culture, and Politics

Hong Kong is a former British colony located on the southeastern edge of China. It is a highly populated country with a vibrant urban center containing many skyscrapers and architectural designs such as the Bank of China tower. The country is also considered a desirable shopping destination with many high quality and reasonably priced purveyors of luxury goods and clothing. Its political climate has recently been rendered unstable since separation from Britain, due to constant protests from its citizens over the influence on China on its political system. Hong Kong operates under Chinese rule where the government of China ostensibly provides the region independence over its resources in order to create its own economic and social systems but continues to attempt control under mainland central authority. Cantonese is the most widely used language in the country, but Mandarin and English are also widely spoken. Hong Kong’s diverse culture is a combination of East and West and the people are considered very open-minded, especially to other cultures. Religions practiced include Taoism, Buddhism, and Christianity.

Public Holidays

2021
April 2	Good Friday
April 3	Holy Saturday
April 5	The Day Following Tomb Sweeping Day
April 6	The Day Following Easter Monday
May 1	Labour Day
May 19	Buddha’s Birthday
June 14	Dragon Boat Festival
July 1	Hong Kong Special Administrative Region Establishment Day
September 22	Day after Mid-Autumn Festival
October 1	National Day of the People’s Republic of China
October 14	Chung Yeung Festival
December 25	Christmas Day
December 27	First Weekday After Christmas Day

Legal Entity Types

Ltd (Limited/有限公司)
Unltd or Ultd (Unlimited/無限公司)

Taxation

Corporate Tax: 16.5% (on profits over HK$2 million), 8.25% (on profits not over HK$2 million)
Income Tax (Lowest Marginal Rate): 0%
Income Tax (Highest Marginal Rate): 15%
VAT/GST/Sales Tax: 0%

Available Banks

Licensed banks incorporated in Hong Kong (Local Bank)
Bank of China (Hong Kong) (Local Bank)
Bank of Communications (Local Bank)
Bank of East Asia, The (Local Bank)
China CITIC Bank International (Local Bank)
China Construction Bank (Asia) (Local Bank)
Chiyu Banking Corporation (Local Bank)
Chong Hing Bank (Local Bank)
Citibank (Hong Kong) (Local Bank)
Dah Sing Bank (Local Bank)
DBS Bank (Hong Kong) (Local Bank)
Fubon Bank (Hong Kong) (Local Bank)
Hang Seng Bank (Local Bank)
Hongkong and Shanghai Banking Corporation (Local Bank)
Industrial and Commercial Bank of China (Asia) (Local Bank)
Nanyang Commercial Bank (Local Bank)
OCBC Wing Hang Bank (Local Bank)
Public Bank (Hong Kong) (Local Bank)
Shanghai Commercial Bank (Local Bank)
Standard Chartered Bank (Hong Kong) (Local Bank)
Dah Sing Bank Limited (Local Bank)
Tai Yau Bank (Local Bank)
Wing Lung Bank (Local Bank)
Licensed banks incorporated outside Hong Kong (Commercial Bank)
ABN AMRO Bank N.V. (Commercial Bank)
Agricultural Bank of China (Commercial Bank)
Allahabad Bank (Commercial Bank)
Australia and New Zealand Banking Group (Commercial Bank)
Axis Bank (Commercial Bank)
Banca della Svizzera Italiana (BSI) (Commercial Bank)
Banca Monte dei Paschi di Siena (Commercial Bank)
Banco Bilbao Vizcaya Argentaria (Commercial Bank)
Banco Santander (Commercial Bank)
Bangkok Bank Public Co. Ltd. (Commercial Bank)
Bank J. Safra Sarasin (Commercial Bank)
Bank of America (Commercial Bank)
Bank of Baroda (Commercial Bank)
Bank of China (Commercial Bank)
Bank of Communications Hong Kong Branch (Commercial Bank)
Bank of India (Commercial Bank)
Bank Negara Indonesia (Commercial Bank)
Bank of New York Mellon, The (Commercial Bank)
Bank of Nova Scotia, The (Commercial Bank)
Bank of the Philippine Islands (Commercial Bank)
Bank of Taiwan (Commercial Bank)
Bank of Tokyo-Mitsubishi UFJ, The (Commercial Bank)
Bank of Singapore (Commercial Bank)
Bank SinoPac (Commercial Bank)
Barclays (Commercial Bank)
BDO Unibank (Commercial Bank)
BNP Paribas (Commercial Bank)
BNP Paribas Securities Services (Commercial Bank)
BNP Paribas Wealth Management (Commercial Bank)
Canadian Imperial Bank of Commerce (Commercial Bank)
Canara Bank (Commercial Bank)
Cathay Bank (Commercial Bank)
Cathay United Bank (Commercial Bank)
Chang Hwa Commercial Bank (Commercial Bank)
Chiba Bank, The (Commercial Bank)
China Construction Bank (Commercial Bank)
China Development Bank (Commercial Bank)
China Everbright Bank (Commercial Bank)
China Merchants Bank (Commercial Bank)
China Minsheng Banking Corporation (Commercial Bank)
Chugoku Bank, The (Commercial Bank)
CIMB Bank (Commercial Bank)
Citibank (Commercial Bank)
Commerzbank (Commercial Bank)
Commonwealth Bank of Australia (Commercial Bank)
Coutts & Co. (Commercial Bank)
Crédit Agricole (Commercial Bank)
Crédit Industriel et Commercial (Commercial Bank)
Credit Suisse (Commercial Bank)
CTBC Bank (Commercial Bank)
DBS Bank (Commercial Bank)
Deutsche Bank (Commercial Bank)
DZ Bank (Commercial Bank)
E.SUN Commercial Bank (Commercial Bank)
East West Bank (Commercial Bank)
Edmond de Rothschild (Suisse) (Commercial Bank)
EFG Bank (Commercial Bank)
Erste Group Bank (Commercial Bank)
Far Eastern International Bank (Commercial Bank)
Goldman Sachs (Commercial Bank)
Hana Bank (Commercial Bank)
HDFC Bank (Commercial Bank)
Hong Leong Bank (Commercial Bank)
HSBC Bank plc (Commercial Bank)
HSBC Bank USA (Commercial Bank)
UniCredit Bank AG (Commercial Bank)
ICICI Bank (Commercial Bank)
Indian Overseas Bank (Commercial Bank)
Industrial and Commercial Bank of China (Commercial Bank)
Industrial Bank of Korea (Commercial Bank)
Industrial Bank Co. (Commercial Bank)
ING Bank (Commercial Bank)
Intesa Sanpaolo (Commercial Bank)
JPMorgan Chase Bank (Commercial Bank)
Bank Julius Baer & Co. (Commercial Bank)
KBC Bank (Commercial Bank)
Korea Exchange Bank (Commercial Bank)
Land Bank of Taiwan (Commercial Bank)
LGT Bank (Liechtenstein) (Commercial Bank)
Lloyds Bank (Commercial Bank)
Macquarie Group Limited (Commercial Bank)
Mega International Commercial Bank (Commercial Bank)
Mashreq Bank (Commercial Bank)
Maybank (Commercial Bank)
Melli Bank (Commercial Bank)
Mizuho Bank (Commercial Bank)
National Australia Bank (Commercial Bank)
National Bank of Abu Dhabi (Commercial Bank)
National Bank of Pakistan (Commercial Bank)
Natixis (Commercial Bank)
Philippine National Bank (Commercial Bank)
Punjab National Bank (Commercial Bank)
Coöperatieve Centrale Raiffeisen-Boerenleenbank (Commercial Bank)
Raiffeisen Bank International (Commercial Bank)
Royal Bank of Canada (Commercial Bank)
Royal Bank of Scotland, The (Commercial Bank)
Royal Bank of Scotland N.V., The (Commercial Bank)
Shanghai Commercial and Savings Bank (Commercial Bank)
Shanghai Pudong Development Bank (Commercial Bank)
Shizuoka Bank (Commercial Bank)
Skandinaviska Enskilda Banken (Commercial Bank)
Société Générale (Commercial Bank)
Standard Bank (Commercial Bank)
Standard Chartered Bank (Commercial Bank)
State Bank of India (Commercial Bank)
State Street Bank and Trust Company (Commercial Bank)
Sumitomo Mitsui Banking Corporation (Commercial Bank)
Sumitomo Mitsui Trust Bank (Commercial Bank)
Svenska Handelsbanken (Commercial Bank)
Taipei Fubon Commercial Bank (Commercial Bank)
Taishin International Bank (Commercial Bank)
Taiwan Cooperative Bank (Commercial Bank)
Toronto-Dominion Bank (Commercial Bank)
Taiwan Shin Kong Commercial Bank (Commercial Bank)
Shinhan Bank (Commercial Bank)
UBS (Commercial Bank)
UCO Bank (Commercial Bank)
Union Bank of India (Commercial Bank)
United Overseas Bank (Commercial Bank)
Wells Fargo Bank (Commercial Bank)
Portigon (Commercial Bank)
Westpac Banking Corporation (Commercial Bank)
Woori Bank (Commercial Bank)
Restricted licence banks incorporated in Hong Kong (State Bank)
Allied Banking Corporation (Hong Kong) Limited (State Bank)
Bank of America Securities Asia Limited (State Bank)
Bank of China International Limited (State Bank)
Bank of Shanghai (Hong Kong) Limited (State Bank)
Citicorp International Limited (State Bank)
Habib Bank Zurich (Hong Kong) Limited (State Bank)
J. P. Morgan Securities (Asia Pacific) (State Bank)
KDB Asia (State Bank)
Kookmin Bank Hong Kong (State Bank)
Morgan Stanley Asia International Limited (State Bank)
Orix Asia Limited (State Bank)
RBC Capital Markets (Hong Kong) (State Bank)
Scotiabank (Hong Kong) (State Bank)
Société Générale Asia (State Bank)
UBAF (Hong Kong) (State Bank)
Restricted licence banks incorporated outside Hong Kong (Foreign Bank)
Bank Mandiri (Foreign Bank)
Bank of Ayudhya (Foreign Bank)
Kasikornbank (Foreign Bank)
Deposit-taking companies (all incorporated in Hong Kong) (Private Bank)
BCOM Finance (Hong Kong) (Private Bank)
BPI International Finance (Private Bank)
Chau’s Brothers Finance Company (Private Bank)

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