Economy
6 Things You Need To Prepare Before Starting a Business in Hong Kong
Hong Kong is one of the world’s business hubs. The former British colony has a thriving tech and business sector, that attracts professionals from all over the world. In addition, due to the city’s rising population, it is a great place for business start-ups– there is a massive market there. If you want to start a business in Hong Kong, then you do need to do your research and prepare first. With so much competition, it’s fair to say that starting up there isn’t easy.
This article will tell you six things you need to know and prepare before starting a business in Hong Kong:
Registration
The first step when starting a business in Hong Kong is no different from starting a business anywhere else in the world: Registration. If you don’t register your business, then you won’t be able to pay your taxes. Tax evasion is a serious crime. In the words of the business specialists from sleek.com/hk/resources/hong-kong-business-registration-number-vs-company-registration-number/, the first thing that you need to do is to register with the Companies Registry to get limited company status. Then, you have to register with Hong Kong’s Business Registration Office. Once you have done both of these things, you are able to operate in Hong Kong. Before you register your business, you need to plan out what you are going to name it. This is because you will have to register your business in its name.
Research
The next thing that you need to do is to carefully research Hong Kong’s business scene. As already mentioned, Hong Kong has a thriving business sector, with a variety of different industries flourishing there. Researching will give you an opportunity to see which industries are doing best. You should already have an idea about what industry your business is going to operate in prior to registering it but be sure to continue researching it after registration is complete. Industries evolve and change. By constantly educating yourself, you stay ahead of any changes and know everything that there is to know about yours.
Audience
Hong Kong is one of the most densely populated places in the world. Will you be offering business services to the city’s 7.842 million residents or will you be basing yourself in Hong Kong and offering services internationally? Before you can open your business, you need to have an idea about who your audience is and how you are going to reach them. If you can’t pinpoint your audience then you need to go back to the start and redo your initial business plan. If you are going to offer Hong Kong’s residents your services, how are you going to reach them?
Mission
A mission statement is very important. If your business doesn’t have a mission statement, then you could have trouble finding investors or employees, especially in Hong Kong. Hong Kong’s business world is very formal. All businesses are expected to have a mission statement. A mission statement provides your business’s investors, customers, and employees with a vision for your company’s future. Mission statements also direct growth. They give employees the opportunity to think about how their actions will impact and shape their business. Customers and investors can also do the same. Mission statements are especially useful if you want to attract investors.
Funding
How are you going to fund your new business venture? One thing that can be confidently said about Hong Kong is that it isn’t cheap. Unless you already own property in Hong Kong, how are you going to buy or lease a base for your business? Most people rely on investors to fund their businesses. How are you going to attract investors? One very effective way of sourcing investors is to use a crowdfunding platform. Alternatively, you can use a platform where investors are able to buy shares in your business by funding your business venture.
Marketing
Finally, you need to plan out your business’s marketing. Hong Kong is not short on marketing agencies, so you can outsource this aspect of your business’s creation and management. If you want to manage it yourself then you can use influencers, social media, and content marketing. All three of these solutions are by far the marketing world’s most effective (currently). Marketing trends do change and shift rapidly, however, so it’s worth subscribing to a few business journals and magazines so that you can learn about new marketing solutions as soon as they are developed and promoted. Search engine optimization is also essential for your website.
Starting a business is an effective way of reclaiming your future and ensuring that you achieve financial independence. Hong Kong is a very competitive business environment, so it can be difficult to start a business there if you don’t properly plan and factor in all of this article’s guidance. Bear this in mind.
By Adedapo Adesanya
The Senate Committee on Banking, Insurance and Other Financial Institutions has called for stronger collaboration among financial sector regulators and other stakeholders to strengthen Nigeria’s financial system and support sustainable economic growth.
The committee made the call during an expanded stakeholders’ engagement in Lagos, attended by the leadership of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON), National Insurance Commission (NAICOM) and Nigeria Export-Import Bank (NEXIM), among other industry stakeholders and financial experts.
Chairman of the committee, Mr Adetokunbo Abiru (Lagos East), who was represented by Mr Osita Izunaso (Imo West), said stronger legislative reforms and regulatory collaboration were necessary to reposition Nigeria’s financial architecture for long-term economic prosperity.
Mr Abiru said the financial sector remained critical to investment, job creation, business expansion and macroeconomic stability, stressing that its ability to mobilise savings, channel credit to productive sectors, facilitate investment and manage risks was fundamental to sustainable economic growth.
He said the current economic realities required closer collaboration between the legislature and financial regulators, noting that challenges confronting the sector were interconnected and could not be effectively addressed through isolated interventions.
The lawmaker identified inflationary pressures, global economic uncertainties, cybersecurity threats, low insurance penetration and the need to diversify Nigeria’s export base as some of the challenges requiring coordinated policy responses.
He said the engagement was aimed at generating practical solutions to strengthen the country’s financial architecture and support sustainable economic growth.
According to him, monetary policy, financial safety nets, banking institutions, the insurance industry and export finance were interdependent components of a stable financial system and must therefore be strengthened collectively.
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin, said the Nigeria Insurance Industry Reform Act (NIIRA) 2025 had contributed significantly to stabilising and repositioning the insurance sector.
Mr Omosehin disclosed that 43 insurance companies had successfully recapitalised, describing the development as a major milestone for the industry.
He commended Abiru and members of the committee for their role in advancing insurance sector reforms and urged the House of Representatives to expedite action on the relevant insurance reform bill to enable it to receive presidential assent and become operational.
Representatives of the CBN Governor and the Managing Directors of AMCON, NEXIM and NDIC also commended the Senate committee for its oversight and legislative support, saying its interventions had strengthened the agencies’ capacity to discharge their statutory mandates.
The engagement, held under the theme, Strengthening Financial System Architecture for Sustainable Economic Growth and Stability in Nigeria, also featured presentations by Professor Uche Uwaleke, President of Capital Market Academics of Nigeria (CMAN); Professor Biodun Adedipe, Chief Consultant, B. Adedipe Associates Limited; and Dr Tilewa Adebajo, Chief Executive Officer of CFG Advisory.
The experts presented policy recommendations on key issues affecting Nigeria’s financial system, with emphasis on financial stability, investment and sustainable economic growth.
Mr Abiru said the Senate would continue to engage financial regulators and other stakeholders to deepen financial inclusion, strengthen public confidence in financial institutions and improve regulatory effectiveness.
He said the broader objective was to position Nigeria’s financial system to compete more effectively in the global economy while remaining resilient and responsive to the country’s economic transformation agenda.
By Aduragbemi Omiyale
The first six months of 2026 were not too good for Caverton Offshore Support Group Plc, as it suffered an N8.7 billion loss compared with the N2.1 billion net profit it recorded in the same period of 2025.
This occurred as the company posted a 10.91 per cent decline in earnings between January and June 2026, according to its financial statements for the period ended June 30, 2026.
Analysis of the results showed that the revenue generated in the period under review stood at N14.7 billion versus the N16.5 billion printed in the corresponding period of last year.
Business Post observed that the revenue was negatively impacted by a decline in earnings from helicopter charter and helicopter/airplane contract.
Further analysis of the financial results indicated that operating profit went down by 22.34 per cent to N7.3 billion from N9.4 billion, with administrative expenses jumping to N7.9 billion from N4.7 billion.
But Caverton believes things will get better, noting that the clearest driver of the recovery is Caverton Marine.
Through its relationship with Stena Bulk, one of the world’s leading tanker operators, the organisation now participates in three Suezmax tankers trading a rare source of foreign-currency revenue for a Nigerian-listed company.
It noted that the relationship is being deepened through Unity Shipping Worldwide, a joint venture with the Nigerian National Petroleum Company (NNPC) Limited and Stena Bulk that pairs the state-owned oil firm’s national position and Stena Bulk’s fleet with Caverton’s indigenous operating platform
Closer to home, the firm’s OMIBUS platform, developed with Shanghai-based electric-propulsion OEM Explomar, is bringing battery-electric passenger ferries to Lagos waterways. A prototype is already in service, and Caverton holds a firm order from Lagos State for ten vessels, an early-mover position in clean inland-water transport that the group believes can be replicated across other states as the fleet enters service and ferry operations mature into steady, recurring revenue.
In aviation, the institution said the recovery is anchored on its partnership with NHV, a Belgium-based international helicopter operator, with the restructuring of charter operations targeted for the second half of 2026.
“The first half of the year tested us, but the direction of travel is now visible in the numbers.
“Quarter on quarter, we are working to build up our revenue to narrow losses. Our marine business units, from international tankers to electric ferries, are scaling.
“Meanwhile, our aviation relaunch is on track for the second half, and our cost base is tighter than it has been in years. There is distance still to travel, but Caverton is moving from stabilisation to recovery, and we intend to finish 2026 with that momentum intact,” the chief executive of Caverton, Mr Olabode Makanjuola, stated.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) have issued new guidelines clarifying the taxation of virtual assets in Nigeria.
The guidelines provide an administrative framework for the taxation of virtual assets and specify the tax obligations of individuals and businesses operating in the sector.
According to a public notice issued by the two agencies, the framework covers registration, reporting and record-keeping requirements, valuation principles and the tax treatment of virtual asset transactions.
It applies to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other persons engaged in virtual asset-related activities.
The NRS and JRB said the guidelines were developed in line with the provisions of the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025.
The two bodies said the release was aimed at providing clarity, certainty and consistency in the administration of Nigeria’s tax laws as the country’s virtual asset ecosystem continues to evolve.
The agencies added that the framework would promote voluntary compliance, enhance transparency and support the development of a fair and efficient tax system for digital asset transactions.
They urged all affected taxpayers and stakeholders to familiarise themselves with the guidelines and ensure compliance with the applicable tax obligations.
The guidelines are available on the official websites of the two agencies.
