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Choosing Business
Premises
In
Hong Kong a wide variety of business premises are available within a small
radius. While prices in the premium 'Central' location can be high, Hong Kong's
compact city and efficient transport system mean good value sites can be found
within a short distance of the CBD.
Leasing is normally arranged through an agent and procedures are
straightforward, with the same regulations applying to local and foreign
companies.
Office properties
Hong Kong's premium office space is found in the 'Central'
district on Hong Kong Island. Other popular office districts include Wanchai,
Causeway Bay and Quarry Bay on Hong Kong Island, and Tsim Sha Tsui on the
Kowloon peninsula.
A. Leased offices
Leases
are typically two or three years with an option to renew. A tenancy agreement
covers the respective duties and obligations of landlord and tenant; a deposit
(normally two to three months) is required.
Other costs may include:
(a) One-off fee to the property agent (normally one month's rent)
(b) Management service charges - this typically covers air conditioning,
security, common areas, cleaning and other building services
(c) Government rates at 5% of annual rental value, payable quarterly in advance
(d) Legal fees, should you engage a lawyer to process the tenancy agreement
B. Serviced or
Virtual Offices
Many
companies prefer the option of a serviced, or virtual, office when they first
arrive. Serviced offices are available across Hong Kong and allow for short-term
leases, and provide tenants with a range of secretarial services. Virtual
offices provide a mailing address and receptionist, who will answer the phone in
the name of your company.
C. Industrial
buildings
Hong
Kong offers three main types of industrial buildings:
Flatted factories are for general manufacturing processes, normally
intended for sale or lease.
Industrial/office premises comprise floor space in developments with
planning permission and lease modification providing for industrial/office use,
and are certified for occupation as such
Specialised factories comprise all other factory premises, primarily
purpose-built for specialised manufacturing process, usually for occupation by a
single operator.
Most of the flatted factories and industrial/office buildings are found in Kwun
Tong and Tsuen Wan, while around 80% of specialised factories are in the New
Territories.
D. Other facilities
(R&D, laboratory, high-tech facilities)
Some
companies require a specialist office environment, or choose to locate among
similar, or complementary, businesses. Facilities, including incubator services,
in Hong Kong for companies involved in science, technology, design or research
and development include:
- Hong Kong Science and Technology Parks Corporation (HKSTP)
- Cyberport
- Hong Kong Design Centre
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