Go to Hong Kong, Taiwanese businessmen urged

Hong Kong is the ideal gateway for Taiwanese entrepreneurs looking to go global and its corporate tax rate is up to 16.5% lower than Taiwan’s.

Simon Galpin, Director-General of Investment Promotion of Invest Hong Kong, said Taiwanese investors should take advantage of Hong Kong's rich resources to step up their presence in the global market. He noted that Hong Kong is ideal for entrepreneurs as it is gateway to both China and the world.

In addition, investing in Hong Kong helps mitigate tax exposure as its corporate tax rate of up to 16.5% is lower than in either Taiwan or China.

In 2011, Taiwan and Hong Kong were each other's fourth-largest trade partners, with total trade volume exceeding US$41.9 billion.

Turning his focus to the creative industry in particular, Galpin said that tHong Kong is known for its branding and marketing ability and can therefore help Taiwanese creative industry startups to develop quickly.

"One of the beauties of the creative companies is that they can expand even if they are not so big," Galpin said. He pointed out that clusters of experienced local and foreign design talent in Hong Kong can also provide business advantages.

Galpin cited the example of Taiwan's biggest digital music provider, KKBOX Inc., which has set up several branches in Hong Kong to explore the mobile entertainment market.