The rounds of protests in Hong Kong that have been running for almost three months now is gradually crippling the business sector. This shopping mecca and global financial hub has suddenly found itself struggling to maintain its position economy-wise. And, it is the continuing civil disturbance that hurt the bottom-line of most businesses making them consider leaving Hong Kong for alternative markets.
“Anywhere but here” can be your battle cry if you have a Hong Kong business that found itself in the situation that the country is in right now. But we have gathered the 5 countries that topped the list of alternative markets.
Top 5 Alternatives
Singapore is a top choice, as Hong Kong and Singapore are always competing to be the top Asia financial headquarters.
Shenzhen is being built up to compete with Hong Kong. Beijing is investing a ton of resources to make it more open and more international – similar to Hong Kong’s uniqueness.
Hainan is another south China city that has international banking options and has also been testing with open internet and more international trade options.
Estonia is one many often talk about, with the e-residency program. There is a simple and transparent tax system on any dividends. The one issue is banking you still need to go to Estonia in person for it.
USA, many I know, such as Alpha Rock Capital, are just going all in on America. Easy access to US investors, the most options for credit cards and banking, it is more and more attractive for international investors.
Where would you rather go?
For sure you may have looked up the above options and have considered one that may be the best for the type of business you have. We would love to know your thoughts as well. So, we created this simple poll that we hope you can answer:
Take an easy reference with you
We here at Global From Asia know how important this information is to you. So, as a treat, we created this infographic on the Alternatives to Hong Kong Business for your easy reference. One that you can easily refer to should you find time to really consider your options. Check the full resolution infographic here.
You know what’s best for you
Ultimately, you decide what the best option would be for your business to sustain its profitable operations. Assess how your business would respond to the business climate in the country you decide to transfer to. If there are other options that you think should be on the list too, do comment below so we can add!