The ISO code of Hong Kong is HK according to the ISO 3166 standard. The local name of the country is Xianggang. Hong Kong capital city is Hong Kong. People in Hong Kong speak the Chinese, and English languages. In the year 1841, Hong Kong emerged as a sovereign political entity.
Hong Kong is located in the UTC +08:00 time zone, which is also called Hong Kong Time or HKT. The internet country code top-level domain (ccTLD) for Hong Kong is .hk. Other domains assigned to Hong Kong are .香港, .asia. The International dialing code for Hong Kong is 852. People in Hong Kong drive on the left side of the road. Total land area of Hong Kong is 2,755 km² (approx. 1,064 mi²). Hong Kong is not a landlocked country. It means that is is bordered by at least one major body of water.
Hong Kong is located in Asia. Hong Kong is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Hong Kong faces various issues, including air and water pollution from rapid urbanization.
Doing business in Hong Kong
We offer various corporate services in Hong Kong jurisdiction. These services can serve both, people coming from Hong Kong and foreigners. If you plan on doing business in Hong Kong you might be interested in contacting us.
To find out about starting your business in Hong Kong click on company formation in Hong Kong.
To find out how to open a bank account in Hong Kong and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Hong Kong.
Choose preferred service below or continue reading to find out more about Hong Kong.
Demographics of Hong Kong
The total population of Hong Kong is 7,428,887 people. In Hong Kong, the population density is 6571 people per square kilometer (17,094 per square mile). Because of this statistic, this country is considered to be very densely. The ethnic diversity is almost uniform according to a fractionalization scale which for Hong Kong is 0.062. Hong Kong has approximately 2838665 foreign immigrants. The median age is approximately 43.2 years. In Hong Kong, 72.8 in every 100 people use internet. Hong Kong has a Human Development Index (HDI) of 0.891.
The majority religion of Hong Kong is Christianity, Hong Kong is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Hong Kong.
Culture of Hong Kong
People in Hong Kong speak the Chinese, and English languages. According to data on inbound tourists in Hong Kong, 25,661,000 tourists arrive in the country each year. The first McDonalds in Hong Kong was opened on 8 January 1975, and it was located in Paterson Street, Causeway Bay, Hong Kong Island. One of the most popular national dishes of Hong Kong is char siu. To read more click on culture of Hong Kong.
Geography of Hong Kong
Hong Kong is considered to be a large nation because of its total area. Its total land area is 2,755 km² (approx. 1,064 mi²). Hong Kong is located in Asia. Its capital city is Hong Kong. The length of said border is 30 km (19 mi).Total length of land borders of Hong Kong is 33 kilometers (~13 miles).
The highest point of Hong Kong is Tai Mo Shan, with its official height being 958 m (3,143 ft). Including land mass and EEZ, the total area of Hong Kong is approximately 2,755 km² (~1,064 mi²). The most notable natural resources found in Hong Kong are deepwater harbors, feldspar.To read more click on geography of Hong Kong.
Economy of Hong Kong
The currency of the country is Hong Kong dollar. The symbol used for this currency is $, and it is abbreviated as HKD. 3.2% of population in the country are unemployed. The total number of unemployed people in Hong Kong is 237,724. Each year, Hong Kong exports around $456.4 billion and imports roughly $520.6 billion. The Gini Index of the country is 53.7. Hong Kong has a Human Development Index (HDI) of 0.891.Hong Kong has a government debt of 19.3% of the country's Gross Domestic Product (GDP), as assessed in 2013. Hong Kong is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are textiles, clothing, tourism, banking, shipping, electronics, plastics, toys, watches, clocks.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Hong Kong is $400,362 billion. Each year, consumers spend around $181,089 million. The ratio of consumer spending to GDP in Hong Kong is 0%, and the ratio of consumer spending to the world consumer market is 0.42. The corporate tax in Hong Kong is set at 16.5%. Personal income tax ranges from 0% to 15%, depending on your specific situation and income level. VAT in Hong Kong is 0%. To read more click on economy of Hong Kong.
Infrastructure of Hong Kong
Infrastructure quality in Hong Kong is rated to be at 3.97. It indicates a good quality - roads, railroad, ports and other facilities are adapted and regularly maintained to handle high levels of traffic at all times, as well as most probably there are special facilities for handling high intensity and/or special traffic or vehicles (e.g. motorways a.k.a. autobahns and deepwater ports).
In Hong Kong, 100% of the population has access to electricity. There are 870,041 internet hosts in Hong Kong. Hong Kong has 2 airports nationwide.
The logistics performance index of Hong Kong is 3.83. It indicates a good performance - the logistics system is well prepared and organised, shipments mostly arrive on time and do not suffer damage, and the infrastructure is ready to handle even unpredictably big amounts of traffic as long as it is not overwhelming.
Tracking possibilities for shipments are rated at 3.87. It indicates a good performance - the tracking systems provide detailed and up-to-date information about most of the parameters of shipments, as well as often transcend national (both political and linguisitc) barriers and may be qualified as international shipment tracking systems.
The number of road motor vehicles per 1000 inhabitants in Hong Kong is 345. To read more click on infrastructure of Hong Kong.
Politics of Hong Kong
Hong Kong, is a special administrative region of china. With regard to political and civil freedoms, Hong Kong is 2. Citizens in Hong Kong experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Hong Kong, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Xi Jinping.
According to the World Bank Group, the government effectiveness index of Hong Kong is 1.84. This indicates that the government of Hong Kong is very effective. Citizens enjoy highly effective social, public, and civil services, and the overall morale in Hong Kong is high. Government actions are efficient and expeditious, and dangerous situations are highly unlikely as a result.In Hong Kong, the legislative power is vested in a Legislative Council. The strength of legal rights index for Hong Kong is 8. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. Hong Kong is a member of the World Bank. To read more click on politics of Hong Kong.
Environment of Hong Kong
Hong Kong emits 5.7 metric tons per capita of CO2. The number of road motor vehicles per 1000 inhabitants in Hong Kong is 345. To read more click on environment of Hong Kong.
Company formation in Hong Kong
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Hong Kong.
When establishing a company in Hong Kong, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Hong Kong that will affect the establishment and growth of one's business. Contact us or click on company formation in Hong Kong to read additional information when setting up a business.
Bank account opening in Hong Kong
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Hong Kong. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Hong Kong, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Hong Kong or contact us.