【Startup Channel】Best Place to Set up a Company

Introduction :

Tammy : And we are back with our weekly podcast, I am Tammy and I’m here with Ray and we together are from Unipro Consulting Limited, Hi Ray, how are you?

Ray : A pleasant day to everyone. Hi Tammy, I’m good, the weather is so nice today, I hope everyone is safe.

Tammy: Yes, I hope everybody is safe out there, do you go out these days?

Ray : Yes I do, what about you?

Tammy : Not really unless it’s necessary for me to go out. Everybody are wishing that things will get back to normal; Staying at home can sometimes cause anxiety, depression and stress for some, and breathing some fresh air outside can be very helpful for the health.

Ray : Yes, seeing nature outside can really relax your mind. 

Tammy : True! Do you know what I really miss? Traveling, I really miss traveling. How I wish I can travel to different places or countries.

Ray :  Yes, me too! I miss traveling. Maybe this will take a little longer for us to be able to travel again.

Tammy : I think so too! 

Ray : The whole world is affected by this pandemic, however, there are already vaccines available. But still everyone should still take precautions.

Tammy : Yes, as there is a new strain virus ongoing in different parts of the world, and once it is already okay to travel and vaccines are available. Then I would go traveling.

Why do you travel?

Ray : That’s nice, and where do you usually travel?

Tammy : Well, I only travel within southeast asia, like in Hong Kong, Malaysia, Thailand, Singapore, Taiwan and Indonesia. What about you?

Ray : Well, I like Southeast Asia countries too. I’ve been to those countries the same as yours, plus Vietnam and China. Actually I travel mainly because of business. I seldom travel for pleasure. You get to learn a lot of things when you travel either for business or for pleasure.

Tammy : Yeah, I travel usually for leisure, usually go on holidays, I love seeing and learning different cultures from different places. 

Ray : Yes, different places, different cultures. And it’s really fun learning different cultures from other countries. When I travel for business, I meet different people from around the world. And you would usually notice the difference between this and that. Like some would greet you with a shake hands or a bow, or even a hug. It’s really interesting to learn those things. 

Tammy : Interesting! For me it’s actually important to know these things when you travel, so you won’t get shocked when you visit a place. Knowing their culture before you travel will make your travel easier and happier, I guess!

Ray : That’s true Tammy, like in Japan, they bow for greetings, ceremonies, rituals and apology. And there are several types of bow that range from a casual greeting to sincere and dramatic apology. And like these unique cultures actually can help differentiate the region from others in the world.

Tammy : Oh! So that’s one of the Japanese cultures that everyone must take note of when they visit Japan, I also would like to share the culture here in the Philippines, of course. We have this culture that when you see your grandparents, aunties and uncles, or anyone who is older than you, you do that “mano po” to show respect, that’s how we call it. “Mano po”

Ray : Sounds interesting, what is “mano po”?

Tammy : Well, It’s a greeting for elderly when you see them, like you get their hand and you put it on your forehead. But of course, You don’t do it in Business, it’s just like a family culture. 

Ray : Oh! That’s unique! 

Tammy : I think so, too! As I never heard of other countries who do the same thing, or maybe there is.

Ray : Well, In Hong Kong, there are also different traditions too, like if somebody pour you a tea on your teacup, you use your 2 fingers to tap the table, to show thank you, and a lot more cultures and traditions!

Tammy : That’s interesting! Well for your, which country is the best place to go to?

Ray : This actually depends, what is your reason or purpose? Is it Business or pleasure?

Tammy : Let’s say for pleasure first.

Ray : Well, this actually depends on you. If you would like to go shopping, scenery and food here in Asia, then I probably would recommend Hong Kong, Taiwan, Japan, Thailand or Korea maybe, some countries offer tax reimbursement when you go back to your home country. 

Tammy : Yes, I love eating! I would probably try Japan since I’ve never been there before. Now i’m so excited!

Ray : I can feel your excitement! Well, for business travel purposes, or looking for business opportunities. I would say, go to Hong Kong, not only because it is the central business hub, and a lot of entrepreneurs go there to do Business, you’ll find a lot of businessmen that you can connect with. But also doing business in Hong Kong or setting up a company there is easy and not too pricey. I mean, you know tax is low, and you can even file for an offshore claim tax.

Tammy : Yeah! Tax is low and can claim offshore tax. But isn’t it Hong Kong is too crowded to do business?

Ray : Well, you can set up a company in Hong Kong virtually like what Unipro Consulting Limited does. Set up a company, rent a virtual office, open a bank account. Hire a company secretary to help you manage your company while you are busy operating your business. There are a lot of advantages as you can see. 

Tammy : Actually, it is a gateway to explore business opportunities in Asia; a Business-Friendly tax system that allows maximum profits for non-HK tax exemption. And most importantly is that they have a trustworthy political environment and a strong, stable economy.

Ray : Very well said Tammy.

Tammy : And aside in Hong Kong, where else is the best place to do business?

Ray : Well, I’d like to say in Singapore too! 

Tammy : Oh yes! I love Singapore, I would say that it is the world’s busiest port and a top location for investments in the Asia Pacific region. Factors such as strategic location, a competitive workforce, pro-business environment, and forward looking economic policies have enabled Singapore to be the world’s gateway to Asia too!

Ray : Yes, why did I say Singapore is a great choice too for business? Simply because you will enjoy the benefit of excellent connectivity and strategic location, as well as you will be a part of the start-up nurturing and business-friendly ecosystem. Your company can take advantage of attractive tax frameworks and extensive trade agreements. You will enjoy a high degree of personal safety and benefit from a strong legal system, And lastly, You have access to a highly skilled local talent pool.

Tammy : And I would like to add something, the leisure growing too! They have a lively dining and entertainment scene that offers some of the best cuisine in Asia along with unique street food. The weather is warm if you like warm weather. 

Ray : Yes, so first think of your target goals first, because like I said, there are a lot of business opportunities in Asia. You just have to come up with a plan. And choose what suits your business or what is best for you and your company.

Tammy : Do you have any tips for the entrepreneurs who are planning to set up a company or do business in Asia?

Ray : Well, Like I said, study your business plans, focus on your market, you may start small and grow. Understand your strength, skills and time available. There are a lot of business opportunities, but before you start going to the war, make sure your weapons are ready!

Tammy : Nice! And now I cannot wait to travel, hoping to have a better year ahead!

Ray : Right, hoping to have a better year! 

Tammy : Thanks Ray for all the insightful information you’ve shared with us today, from different cultures to different business opportunities in other countries. I’m sure it will be very helpful to our listeners who are planning to set up a company.

Ray : Yes, no problem, let us know if there are topics that our listeners would like us to discuss, whether it is business or not. and I am more than happy to share what we know! Thanks Tammy, until next time!

Tammy : Until next time! bye!

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