Incorporate a Company in China- Great Bay Area
The Guangdong-Hong Kong-Macau Great Bay Area (Great Bay Area) includes Hong Kong and Macau -two special administrative regions, and Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, and Zhaoqing - nine cities in Guangdong Province, with a total area of about 56,000 square kilometers. Following the signing of the Framework Agreement on Deepening Guangdong-Hong Kong-Macao Cooperation to Promote the Construction of the Great Bay Area in July 2017, the China State formally announced the Outline of the Development Plan for the Guangdong-Hong Kong-Macau Great Bay Area on February 18, 2019 to further enhance the Great Bay Area contribution to the national economy. It plays a supporting and leading role in development and opening to the outside world, and has planned in many areas such as technological innovation, infrastructure, and joint participation in the construction of the “Belt and Road” program.
- Fully abolish the requirement for Hong Kong and Macau residents to apply for permits for employment in the Mainland
- Encourage the owners of revitalized industrial buildings and commercial buildings to allocate floor space as shared working space or creative rooms, and provide diversified rental solutions to start-ups, young entrepreneurs and art workers at preferential prices not higher than half of the market rent including supporting services
- Funding Hong Kong non government organizations to provide more entrepreneurial support and incubation services for Hong Kong youths who start businesses in Hong Kong and cities in the Great Bay Area, including setting up entrepreneurial bases, and further assisting young people to solve their capital needs in the early stages of entrepreneurship
- Calculation method of "183 days" for paying personal income tax in the Mainland: Less than 24 hours on the day of stay in the Mainland, does not count towards the number of days in the Mainland
- Individuals who do not have a residence in the Mainland, have lived in the Mainland for at least 183 days and less than six consecutive years, shall be exempted from paying personal income tax after filing with the competent tax authority for income derived from overseas and paid by overseas units or individuals. In any of the years in which you have resided in the Mainland for a total of 183 days, if you leave the country for more than 30 days at a time, the continuous period of the year in which you have resided in the Mainland for a total of 183 days shall be re-calculated.
- The local government provides subsidies for personal income tax differentials for overseas (including Hong Kong) high-end professionals and professionals in short supply; the actual tax standard for these personal income taxes is 15%
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