World Trade Center Kochi organised an online session titled "Hong Kong - India Business Scenario: Regulatory, Tax and Trade". Mr. Rajesh Bhagat, Consultant, Hong Kong Trade Development Council; Mr. Neeraj Dubey, Partner, Singh & Associates; Mr. Surendra Singh Chandrawat, Managing Partner, Chandrawat & Partners and Ms. Smita Singh, Partner, Singh & Associates were the speakers.
Mr. Rajesh Bhagat elaborated how HKTDC can help companies to invest in Hong Kong and how the destination can be considered as Asia’s central business district which is neutral and encouraging both import and export of goods and services. Hong Kong has adopted the British common law and it has a strong anti-corruption law. He pointed out that it has been the freest economy in the world for 30 consecutive years and is the 5th most competitive economy globally. Being a free port, no import or export duties levied. It is centrally located and an important maritime and logistic hub. He added that while Hong Kong may not be a large market, it rather serves as a launch pad to reach out to the rest of the world.
Mr. Neeraj Dubey presented a few statistics of India - Hong Kong trade. Major imports included metals and minerals, jewellery, telecom equipment etc. He explained the regulations as per Foreign Exchange Management Act 1999. Mr.Dubey listed those measures taken by Government of India to promote ease of doing business.
Mr. Surendra Singh Chandrawat joined from Hong Kong. He explained how the free economy, few restrictions and simple tax structure makes Hong Kong ideal for investors. It is easy to set up a company even without having a local resident to act as director/shareholder. Ms Smita Singh explained the legal procedures to establish a company in Hong Kong. She also elaborated on the double taxation agreements between Hong Kong and India.
Mr. Vivek George, Manager - World Trade Center made the opening remarks.
