PRNewswire-Asia/ -- The Hongkong and Shanghai Hotels, Limited (HSH) announced its 2011 unaudited first quarter operating statistics at its Annual General Meeting held earlier today. There was general improvement in performance for its three business divisions, with better operating statistics this year than in the first quarter of 2010.

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Hotels Division

The simple way to think about Hong Kong taxes is that they are the lowest in Asia and one of the lowest in the world. The rise of business and prosperity is partly due to their tax system and the way that it encourages commerce and business. Many companies are relocating and taking advantage of the tax savings that they can obtain.

Personal Income Tax

There are many good reasons to consider a Hong Kong business setup. However, there are a lot of things involved in setting up a Hong Kong business, also. Here are some tips to help make the process a bit easier.

Deciding on the Right Type of Business

The term "offshore company" is sometimes unclear in business situations. Offshore means, taking place in another country. If a company in the United States wishes to incorporate a company in Hong Kong, it would be a Hong Kong offshore company. This would not apply to setting up a branch office. It would need to be a separate corporation, to qualify as a local business.

Reasons to Incorporate in another Country

A representative office is often setup to explore opportunities and markets in Hong Kong before starting a major business venture. If you plan to register a Hong Kong representative office, there are a few things to take into consideration, first.

Advantages
You will have several advantages for opening a representative office in Hong Kong. They are as follows:

1. There is no minimum share capital needed. You will not be a separate legal entity in Hong Kong.
2. You do not have to register with the companies registry.
3. You do not have to file a tax return in Hong Kong.