#

Business Reforms in Hong Kong SAR, China

= Doing Business reform making it easier to do business. Negative =  Change making it more difficult to do business.

DB2018

Starting a Business: Hong Kong SAR, China, made starting a business more expensive by reintroducing the business tax fee.

Registering Property: Hong Kong SAR, China, improved the quality of its land administration system by enhancing its reliability and establishing a complaints mechanism.

DB2017

Starting a Business: Hong Kong SAR, China, made starting a business less costly by reducing the business registration fee.

Getting Electricity: Hong Kong SAR, China, streamlined the processes of reviewing applications for new electrical connections and also reduced the time needed to issue an excavation permit.

DB2016

Starting a Business: Hong Kong SAR, China, made starting a business easier by eliminating the requirement for a company seal.

Getting Electricity: The utility in Hong Kong SAR, China, made getting electricity easier by streamlining the process for reviewing connection applications and for completing the connection works and meter installation. In addition, the time needed to issue an excavation permit was reduced.

Getting Credit: Hong Kong SAR, China, improved access to credit by implementing a modern collateral registry.

Paying Taxes: Hong Kong SAR, China, made paying taxes easier and less costly for companies by simplifying compliance with the mandatory provident fund obligations and increasing the allowance for profit tax. At the same time, it increased the maximum contribution to the mandatory provident fund and reduced the property tax waiver.

DB2015

Starting a Business: Hong Kong SAR, China, made starting a business more difficult by increasing the registration fee.

Protecting Minority Investors: Hong Kong SAR, China, strengthened minority investor protections by introducing requirements for directors to provide more detailed disclosure of conflicts of interest to the other board members.

DB2014

Starting a Business: Hong Kong SAR, China, made starting a business less costly by abolishing the capital duty levied on local companies.

Registering Property: Hong Kong SAR, China, made transferring property more costly by increasing the stamp duty.

DB2012

Starting a Business: Hong Kong SAR (China) made starting a business easier by introducing online electronic services for company and business registration.

Getting Electricity: Hong Kong SAR (China) made getting electricity easier by increasing the efficiency of public agencies and streamlining the utility’s procedures with other government agencies.

Labor Market Regulation: Hong Kong, China introduced a Minimum Wage.

DB2011

Paying Taxes: Hong Kong SAR (China) abolished the fuel tax on diesel.

Enforcing Contracts: Reforms implemented in the civil justice system of Hong Kong SAR (China) will help increase the efficiency and cost-effectiveness of commercial dispute resolution.

DB2010

Starting a Business: Hong Kong SAR, China, made starting a business easier by simplifying registration formalities and merging certain procedures.

Dealing with Construction Permits: Hong Kong SAR, China, reduced the time required to obtain a building permit by establishing a one-stop center that brings together 6 local departments and 2 private utility companies under the same roof.

Registering Property: Hong Kong SAR, China, made registering property easier by making it possible to submit the stamp duty for the sale act (property assignment) online.

DB2009

Dealing with Construction Permits: Hong Kong SAR, China, made dealing with construction permits easier through the “Be the Smart Regulator” Program addressing business licenses in multiple sectors, which eliminated some procedures related to building inspections and preapprovals.

Resolving Insolvency: Hong Kong SAR, China, improved its insolvency process by granting more power to trustees, a change expected to make the liquidation procedure more efficient.