Two Giants of Asian Business
Singapore and Hong Kong consistently rank among the world's easiest places to do business. Both offer low taxes, strong legal systems, and access to Asian markets. But which one is right for your business?
Tax Comparison
| Factor | Singapore | Hong Kong |
|---|
| Corporate Tax | 17% (effective ~8.5% for first S$300K) | 16.5% (8.25% for first HK$2M) |
| GST/VAT | 9% GST | No VAT/GST |
| Capital Gains | None | None |
| Dividends | Not taxed | Not taxed |
| Territorial Tax | Yes | Yes |
Formation Speed & Cost
Singapore:
- Formation time: 1-3 days
- Government fee: ~S$315
- Minimum requirements: 1 local director, 1 shareholder, registered address
- Annual compliance: AGM, annual return, audited accounts (with exemptions for small companies)
Hong Kong:
- Formation time: 1-4 days
- Government fee: ~HK$1,720
- Minimum requirements: 1 director, 1 shareholder, 1 company secretary, registered address
- Annual compliance: Annual return, audited accounts, profits tax return
Banking Access
Both offer excellent banking, but:
- Singapore banks (DBS, OCBC, UOB) are generally easier to open accounts with for foreign businesses
- Hong Kong banks (HSBC, Standard Chartered) have become stricter but offer superior China connectivity
Which to Choose?
Choose Singapore if:
- You need simpler compliance
- Your focus is Southeast Asia
- You want easier banking access
- You need IP protection schemes
Choose Hong Kong if:
- Your primary market is China
- You need RMB settlement capabilities
- Your business is trade-focused
- You want a common law jurisdiction
Atlas Can Help With Both
We offer formation services in both Singapore and Hong Kong, with local directors, registered addresses, and ongoing compliance support.
Start your Asia expansion. Choose your jurisdiction.