Commercial laundries are very popular in Hong Kong and, in a sense, they were necessary because of the limited space in some of the apartments in the city. These types of establishments provide low-cost and convenient solutions for families and businesses who need cleaning options on a regular basis.
Starting a laundry business in Hong Kong can be convenient for many investors and it can be a good option for those who are looking for an investment idea.
We invite you to watch a short video about the needed steps for opening a laundry business in Hong Kong:
Starting a laundry business in Hong Kong
Investors who want to enter the laundry business have several options: they may provide 24-hour coin-operated laundry machines for their clients to use as they please or they can provide professional cleaning services.
Laundries and/or Laundromats in Hong Kong can be situated throughout the city in locations that offer enough space to base the washing machines and dryers. The initial investment will include the costs for company formation in Hong Kong and those for the equipment needed to provide the actual laundry services. Investors can open a laundry on their own, as a sole owner or they can form a partnership with another investor. When they decide to open a company in Hong Kong investors may choose between several business forms.
Requirements for companies in Hong Kong
Entrepreneurs who are interested in Hong Kong company formation need to comply with the few basic steps for company incorporation:
- choosing a suitable company name and opening a bank account;
- buying or renting a location for their business;
- hiring employees.
All profits derived from a Hong Kong source, like those produced by a laundry business, are subject to the corporate income tax.
Investors may also open a laundry franchise or a dry cleaning franchise in Hong Kong. Those investors who have the necessary capital for starting a business and wish to use an already existing business plan can explore this investment opportunity.
Call us now at+852 2388 8049 to set up an appointment with our company formation experts in Hong Kong. As our client, you will benefit from the joint expertise of local lawyers and consultants for opening an offshore company in Hong Kong.
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