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as what happened recently, many people concern that their business may face difficulties such as sudden closure of hk company account. we found that singapore has potential to replace hk as the perfect place for company and bank account. 

hk vs sg

hong kong and singapore are both leading financial centres in the world, with various pros and cons. hacos sort out their features to help you choose the best place for your business. 

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as shown above, requirements and charges are much lower in singapore than in hk. in brief, singapore company account is much better. 

advantages

singapore has always performed well with the most outstanding economic environment in the world. it took first place in the 2019 global competitiveness index 4.0. 

here are a few of its advantages: 

• safe political environment

• no exchange control

• good renown

• short processing time

• mature legal system

• low tax rate

• easier to apply for

• …

suitable for

• those who run foreign trade business, agency, soho

• those who have hk account and have received an investigation letter

• those whose hk account is forced to be closed for various reasons

• those who receive and settle forex in a risky way

• those who want to exchange currency, or carry forex out of the country
  those who want to plan the tax or have low burden on tax

• …

procedure

1. register a new company

   if you already have an offshore company, this step is no longer required. 

2. prepare and submit required documents

3. get a guide about the interview

   we will offer a guide for you to ensure that your application successfully gets passed. 

4. make an appointment for the interview

5. kyc interview

   you’ll have an interview with the bank manager for 20 to 30 minutes. 

6. application passed

   simple and easy with hacos’s help. 

if you want to know more details, please contact coco! 

phone number/wechat: 17846997168

 

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many people who work and live in china concern chinese public holiday calendar a lot. now, the official one is finally released! it’s time to start planning your schedule ahead of the next year! 

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we have summarized the related info. from china’s general office of the state council and here is the complete public holiday schedule for 2020. 

new year’s day

jan 1, wed

days off 1 day, jan 1

no adjusted workdays

chinese new year

(spring festivals)

jan 25-27, sat-mon

days off 7 days, jan 24-30

adjusted workdays 2 days, jan 19 & feb 1

tomb sweeping day

(qingming festival)

apr 4, sat

days off 3 days, apr 4-6

no adjusted workdays

 

labour day

may 1, fri

days off 5 days, may 1-5

adjusted workdays 2 days, apr 26 & may 9

dragon boat festival

jun 25, thu

days off 3 days, jun 25-27

adjusted workdays 1 day, jun 28

mid-autumn festival

& chinese national day

oct 1, thu

days off 8 days, oct 1-8

adjusted workdays 2 days, sept 27 & oct 10

here’s the official mini-program of china’s state council, please click in to check the detailed schedule 

there are 7 chinese festivals having a holiday for all citizens, according to the regulation on public holidays for national annual festivals and memorial days. hope you can enjoy your 2020 holiday! 

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source | china gov

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what do you value most when choosing a region to work and live? good environment, favorable location or friendly policies? i think hainan may be a good choice for you since china will further open up this place.

weeks ago we’ve posted an article about provisional driving permits, which shows that hainan is one of the most friendly and open regions for foreigners. 

 

related article:

 

yesterday, china’s ministry of commerce and 17 other agencies issued the notice on the implementation of 30 policies already applied in other ftzs to boost the development of hainan pilot free trade zone and implement a plan issued by the central government. 

hainan was approved to build a pilot free zone in april 2018. there are 30 polices in four aspects that will be implemented on the island. 

detailed policies are not released yet, but we will show you what was mentioned in the notice. 

facilitate investment and trade

12 policies will be piloted to facilitate investment and trade, including allowing foreign law firms to establish joint ventures with chinese counterparts. 

open up the financial sector

7 policies to help open up the financial sector include supporting private capital entering the financial sector, and strengthening strategic cooperation with the offshore chinese currency market. 

accelerate the development of the shipping sector

7 measures will be implemented to allow foreign ships to be chartered for temporary transportation under specific conditions. 

they will also facilitate international ship management companies to engage in seafarer assignment services. 

other aspects

a complementary mechanism of public credit information and financial credit information will be established. 

moreover, the notice said to establish a new model of intensive and economical use of land. 

we’ll keep focus on more new policies friendly to foreigners who work, live, and do business in china. more details will be posted soon! 

share to let your friends know!

source | china gov

👇these articles may help you

 

what do you value most when choosing a region to work and live? good environment, favorable location or friendly policies? i think hainan may be a good choice for you since china will further open up this place.

weeks ago we’ve posted an article about provisional driving permits, which shows that hainan is one of the most friendly and open regions for foreigners. 

 

related article:

 

yesterday, china’s ministry of commerce and 17 other agencies issued the notice on the implementation of 30 policies already applied in other ftzs to boost the development of hainan pilot free trade zone and implement a plan issued by the central government. 

hainan was approved to build a pilot free zone in april 2018. there are 30 polices in four aspects that will be implemented on the island. 

detailed policies are not released yet, but we will show you what was mentioned in the notice. 

facilitate investment and trade

12 policies will be piloted to facilitate investment and trade, including allowing foreign law firms to establish joint ventures with chinese counterparts. 

open up the financial sector

7 policies to help open up the financial sector include supporting private capital entering the financial sector, and strengthening strategic cooperation with the offshore chinese currency market. 

accelerate the development of the shipping sector

7 measures will be implemented to allow foreign ships to be chartered for temporary transportation under specific conditions. 

they will also facilitate international ship management companies to engage in seafarer assignment services. 

other aspects

a complementary mechanism of public credit information and financial credit information will be established. 

moreover, the notice said to establish a new model of intensive and economical use of land. 

we’ll keep focus on more new policies friendly to foreigners who work, live, and do business in china. more details will be posted soon! 

share to let your friends know!

source | china gov

👇these articles may help you