Economy Profile 2015 Doing Business 2015
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Doing Business 2015 Hong Kong SAR, China
Economy Profile 2015
Hong Kong SAR, China
Doing Business 2015 Hong Kong SAR, China 2
© 2014 The International Bank for Reconstruction and Development /
The World Bank
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ISBN (paper): 978-1-4648-0351-2
ISBN (electronic): 978-1-4648-0352-9
DOI: 10.1596/978-1-4648-0351-2
ISSN: 1729-2638
Cover design: Corporate Visions, Inc.Doing Business 2015 Hong Kong SAR, China 3 CONTENTS Introduction .................................................................................................................................. 4 The business environment .......................................................................................................... 6 Starting a business ..................................................................................................................... 16 Dealing with construction permits ........................................................................................... 22 Getting electricity ....................................................................................................................... 29 Registering property .................................................................................................................. 37 Getting credit .............................................................................................................................. 44 Protecting minority investors ................................................................................................... 50 Paying taxes ................................................................................................................................ 61 Trading across borders .............................................................................................................. 65 Enforcing contracts .................................................................................................................... 69 Resolving insolvency .................................................................................................................. 76 Labor market regulation ........................................................................................................... 79 Distance to frontier and ease of doing business ranking ...................................................... 87 Resources on the Doing Business website .............................................................................. 90
Doing Business 2015 Hong Kong SAR, China 4
INTRODUCTION
Doing Business sheds light on how easy or difficult it is 1, 2014 (except for the paying taxes indicators, which
for a local entrepreneur to open and run a small to cover the period January–December 2013).
medium-size business when complying with relevant
The Doing Business methodology has limitations. Other
regulations. It measures and tracks changes in
areas important to business—such as an economy’s
regulations affecting 11 areas in the life cycle of a
proximity to large markets, the quality of its
business: starting a business, dealing with construction
infrastructure services (other than those related to
permits, getting electricity, registering property, getting
trading across borders and getting electricity), the
credit, protecting minority investors, paying taxes,
security of property from theft and looting, the
trading across borders, enforcing contracts, resolving
transparency of government procurement,
insolvency and labor market regulation.
macroeconomic conditions or the underlying strength of
In a series of annual reports Doing Business presents institutions—are not directly studied by Doing Business.
quantitative indicators on business regulations and the The indicators refer to a specific type of business,
protection of property rights that can be compared generally a local limited liability company operating in
across 189 economies, from Afghanistan to Zimbabwe, the largest business city. Because standard assumptions
over time. The data set covers 47 economies in Sub- are used in the data collection, comparisons and
Saharan Africa, 32 in Latin America and the Caribbean, 25 benchmarks are valid across economies. The data not
in East Asia and the Pacific, 26 in Eastern Europe and only highlight the extent of obstacles to doing business;
Central Asia, 20 in the Middle East and North Africa and they also help identify the source of those obstacles,
8 in South Asia, as well as 31 OECD high-income supporting policy makers in designing regulatory reform.
economies. The indicators are used to analyze economic
More information is available in the full report. Doing
outcomes and identify what reforms have worked, where
Business 2015 presents the indicators, analyzes their
and why.
relationship with economic outcomes and presents
This economy profile presents the Doing Business business regulatory reforms. The data, along with
indicators for Hong Kong SAR, China. To allow useful information on ordering Doing Business 2015, are
comparison, it also provides data for other selected available on the Doing Business website at
economies (comparator economies) for each indicator. http://www.doingbusiness.org.
The data in this report are current as of JuneDoing Business 2015 Hong Kong SAR, China 5
CHANGES IN DOING BUSINESS 2015
As part of a 2-year update in methodology, Doing Finally, the name of the employing workers indicator set
Business 2015 incorporates 7 important changes. First, has been changed to labor market regulation, and the
the ease of doing business ranking as well as all topic- scope of this indicator set has also been changed. The
level rankings are now computed on the basis of indicators now focus on labor market regulation
distance to frontier scores (see the chapter on the applying to the retail sector rather than the
distance to frontier and ease of doing business ranking). manufacturing sector, and their coverage has been
Second, for the 11 economies with a population of more expanded to include regulations on labor disputes and
than 100 million, data for a second city have been added on benefits provided to workers. The labor market
to the data set and the ranking calculation. These regulation indicators continue to be excluded from the
economies are Bangladesh, Brazil, China, India, aggregate distance to frontier score and ranking on the
Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian ease of doing business.
Federation and the United States. Third, for getting
Beyond these changes there are 3 other updates in
credit, the methodology has been revised for both the
methodology. For paying taxes, the financial statement
strength of legal rights index and the depth of credit
variables have been updated to be proportional to 2012
information index. The number of points has been
income per capita; previously they were proportional to
increased in both indices, from 10 to 12 for the strength
2005 income per capita. For enforcing contracts, the
of legal rights index and from 6 to 8 for the depth of
value of the claim is now set at twice the income per
credit information index. In addition, only credit bureaus
capita or $5,000, whichever is greater. For dealing with
and registries that cover at least 5% of the adult
construction permits, the cost of construction is now set
population can receive a score on the depth of credit
at 50 times income per capita (before, the cost was
information index.
assessed by the Doing Business respondents). In addition,
Fourth, the name of the protecting investors indicator set this indicator set no longer includes the procedures for
has been changed to protecting minority investors to obtaining a landline telephone connection.
better reflect its scope—and the scope of the indicator
For more details on the changes, see the “What is
set has been expanded to include shareholders’ rights in
changing in Doing Business?” chapter starting on page
corporate governance beyond related-party transactions.
24 of the Doing Business 2015 report. For more details
Fifth, the resolving insolvency indicator set has been
on the data and methodology, please see the “Data
expanded to include an index measuring the strength of
Notes” chapter starting on page 114 of the Doing
the legal framework for insolvency. Sixth, the calculation
Business 2015 report. For more details on the distance to
of the distance to frontier score for paying taxes has
frontier metric, please see the “Distance to frontier and
been changed. The total tax rate component now enters
ease of doing business ranking” chapter in this profile.
the score in a nonlinear fashion, in an approach different
from that used for all other indicators (see the chapter
on the distance to frontier and ease of doing business
ranking).Doing Business 2015 Hong Kong SAR, China 6
THE BUSINESS ENVIRONMENT
For policy makers trying to improve their economy’s
regulatory environment for business, a good place to start ECONOMY OVERVIEW
is to find out how it compares with the regulatory
environment in other economies. Doing Business provides
an aggregate ranking on the ease of doing business
Region: East Asia & Pacific
based on indicator sets that measure and benchmark
regulations applying to domestic small to medium-size Income category: High income
businesses through their life cycle. Economies are ranked
from 1 to 189 by the ease of doing business ranking. This Population: 7,187,500
year's report presents results for 2 aggregate measures:
the distance to frontier score and the ease of doing GNI per capita (US$): 38,420
business ranking. The ranking of economies is determined
by sorting the aggregate distance to frontier (DTF) scores. DB2015 rank: 3
The distance to frontier score benchmarks economies
with respect to regulatory practice, showing the absolute DB2014 rank: 3*
distance to the best performance in each Doing Business
Change in rank: 0
indicator. An economy’s distance to frontier score is
indicated on a scale from 0 to 100, where 0 represents the
DB 2015 DTF: 84.97
worst performance and 100 the frontier. (See the chapter
on the distance to frontier and ease of doing business). DB 2014 DTF: 84.45
The 10 topics included in the ranking in Doing Business
2015: starting a business, dealing with construction Change in DTF: 0.52
permits, getting electricity, registering property, getting
credit, protecting minority investors, paying taxes, trading * DB2014 ranking shown is not last year’s published
across borders, enforcing contracts and resolving ranking but a comparable ranking for DB2014 that
insolvency. The labor market regulation indicators captures the effects of such factors as data
(formerly employing workers) are not included in this corrections and the changes in methodology. See
year’s aggregate ease of doing business ranking, but the the data notes starting on page 114 of the Doing
data are presented in this year’s economy profile. Business 2015 report for sources and definitions.
The aggregate ranking on the ease of doing business
benchmarks each economy’s performance on the
indicators against that of all other economies in the Doing
Business sample (figure 1.1). While this ranking tells much
about the business environment in an economy, it does
not tell the whole story. The ranking on the ease of doing
business, and the underlying indicators, do not measure all
aspects of the business environment that matter to firms
and investors or that affect the competitiveness of the
economy. Still, a high ranking does mean that the
government has created a regulatory environment
conducive to operating a business.Doing Business 2015 Hong Kong SAR, China
THE BUSINESS ENVIRONMENT
Figure 1.1 Where economies stand in the global ranking on the ease of doing business
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China THE BUSINESS ENVIRONMENT For policy makers, knowing where their economy regional average (figure 1.2). The economy’s rankings stands in the aggregate ranking on the ease of doing (figure 1.3) and distance to frontier scores (figure 1.4) business is useful. Also useful is to know how it ranks on the topics included in the ease of doing business relative to comparator economies and relative to the ranking provide another perspective. Figure 1.2 How Hong Kong SAR, China and comparator economies rank on the ease of doing business Note: The rankings are benchmarked to June 2014 and based on the average of each economy’s distance to frontier (DTF) scores for the 10 topics included in this year’s aggregate ranking. The distance to frontier score benchmarks economies with respect to regulatory practice, showing the absolute distance to the best performance in each Doing Business indicator. An economy’s distance to frontier score is indicated on a scale from 0 to 100, where 0 represents the worst performance and 100 the frontier. For the economies for which the data cover 2 cities, scores are a population-weighted average for the 2 cities. Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 9 THE BUSINESS ENVIRONMENT Figure 1.3 Rankings on Doing Business topics - Hong Kong SAR, China (Scale: Rank 189 center, Rank 1 outer edge) Figure 1.4 Distance to frontier scores on Doing Business topics - Hong Kong SAR, China (Scale: Score 0 center, Score 100 outer edge) Note: The rankings are benchmarked to June 2014 and based on the average of each economy’s distance to frontier (DTF) scores for the 10 topics included in this year’s aggregate ranking. The distance to frontier score benchmarks economies with respect to regulatory practice, showing the absolute distance to the best performance in each Doing Business indicator. An economy’s distance to frontier score is indicated on a scale from 0 to 100, where 0 represents the worst performance and 100 the frontier. For the economies for which the data cover 2 cities, scores are a population-weighted average for the 2 cities. Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 10
THE BUSINESS ENVIRONMENT
Just as the overall ranking on the ease of doing business tells Doing Business introduced the distance to frontier score. This
only part of the story, so do changes in that ranking. Yearly measure shows how far on average an economy is from the
movements in rankings can provide some indication of best performance achieved by any economy on each Doing
changes in an economy’s regulatory environment for firms, Business indicator.
but they are always relative.
Comparing the measure for an economy at 2 points in time
Moreover, year-to-year changes in the overall rankings do allows users to assess how much the economy’s regulatory
not reflect how the business regulatory environment in an environment as measured by Doing Business has changed
economy has changed over time—or how it has changed in over time—how far it has moved toward (or away from) the
different areas. To aid in assessing such changes, most efficient practices and strongest regulations in areas
covered by Doing Business (figure 1.5).
Figure 1.5 How far has Hong Kong SAR, China come in the areas measured by Doing Business?
Note: The distance to frontier score shows how far on average an economy is from the best performance achieved by any economy on
each Doing Business indicator since 2010, except for getting credit, paying taxes, protecting minority investors and resolving insolvency
which had methodology changes in 2014 and thus are only comparable to 2013. The measure is normalized to range between 0 and 100,
with 100 representing the best performance (the frontier). See the data notes starting on page 114 of the Doing Business 2015 report for
more details on the distance to frontier score.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 11
THE BUSINESS ENVIRONMENT
The absolute values of the indicators tell another part of regulation—such as a regulatory process that can be
the story (table 1.1). The indicators, on their own or in completed with a small number of procedures in a few
comparison with the indicators of a good practice days and at a low cost. Comparison of the economy’s
economy or those of comparator economies in the indicators today with those in the previous year may
region, may reveal bottlenecks reflected in large numbers show where substantial bottlenecks persist—and where
of procedures, long delays or high costs. Or they may they are diminishing.
reveal unexpected strengths in an area of business
Table 1.1 Summary of Doing Business indicators for Hong Kong SAR, China
United Kingdom DB2015
Best performer globally
Hong Kong SAR, China
Hong Kong SAR, China
Korea, Rep. DB2015
Singapore DB2015
Malaysia DB2015
Indicator
Japan DB2015
China DB2015
DB2015
DB2014
DB2015
Starting a Business
8 8 128 83 17 13 6 45 New Zealand (1)
(rank)
Starting a Business (DTF
96.38 96.45 77.43 86.21 94.36 94.90 96.48 91.23 New Zealand (99.96)
Score)
Procedures (number) 3.0 3.0 11.0 8.0 3.0 3.0 3.0 6.0 New Zealand (1.0)*
Time (days) 2.5 2.5 31.4 10.7 4.0 5.5 2.5 6.0 New Zealand (0.5)
Cost (% of income per
1.4 0.8 0.9 7.5 14.5 7.2 0.6 0.3 Slovenia (0.0)
capita)
Paid-in min. capital (%
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 112 Economies (0.0)*
of income per capita)
Dealing with
Hong Kong SAR,
Construction Permits 1 1 179 83 12 28 2 17
China (1)
(rank)
Dealing with
Hong Kong SAR,
Construction Permits 95.53 95.03 43.75 73.30 85.89 82.49 92.84 85.06
China (95.53)
(DTF Score)Doing Business 2015 Hong Kong SAR, China 12
United Kingdom DB2015
Best performer globally
Hong Kong SAR, China
Hong Kong SAR, China
Korea, Rep. DB2015
Singapore DB2015
Malaysia DB2015
Indicator
Japan DB2015
China DB2015
DB2015
DB2014
DB2015
Hong Kong SAR,
Procedures (number) 5.0 5.0 22.0 12.0 10.0 13.0 10.0 9.0
China (5.0)
Time (days) 66.0 71.0 244.3 197.0 29.0 74.0 26.0 105.0 Singapore (26.0)
Cost (% of warehouse
0.4 0.4 7.6 0.6 4.3 1.3 0.3 1.2 Qatar (0.0)*
value)
Getting Electricity
13 13 124 28 1 27 11 70 Korea, Rep. (1)
(rank)
Getting Electricity (DTF
91.54 91.54 66.35 86.51 99.83 86.67 92.45 78.42 Korea, Rep. (99.83)
Score)
Procedures (number) 4.0 4.0 5.5 3.4 3.0 5.0 4.0 4.0 12 Economies (3.0)*
Time (days) 38.0 38.0 143.2 97.7 18.0 32.0 31.0 126.0 Korea, Rep. (18.0)*
Cost (% of income per
1.4 1.5 459.4 0.0 41.1 46.3 26.3 90.1 Japan (0.0)
capita)
Registering Property
96 92 37 73 79 75 24 68 Georgia (1)
(rank)
Registering Property
66.19 66.18 80.67 71.33 70.99 71.16 84.78 72.55 Georgia (99.88)
(DTF Score)
Procedures (number) 5.0 5.0 4.0 6.0 7.0 8.0 4.0 6.0 4 Economies (1.0)*
Time (days) 35.5 35.5 19.4 13.0 7.0 13.5 4.5 21.5 3 Economies (1.0)*
Cost (% of property
7.7 7.7 3.6 5.8 5.1 3.3 2.8 4.6 4 Economies (0.0)*
value)
Getting Credit (rank) 23 19 71 71 36 23 17 17 New Zealand (1)
Getting Credit (DTF
70.00 70.00 50.00 50.00 65.00 70.00 75.00 75.00 New Zealand (100)
Score)
Strength of legal rights
7 7 4 4 5 7 8 7 3 Economies (12)*
index (0-12)Doing Business 2015 Hong Kong SAR, China 13
United Kingdom DB2015
Best performer globally
Hong Kong SAR, China
Hong Kong SAR, China
Korea, Rep. DB2015
Singapore DB2015
Malaysia DB2015
Indicator
Japan DB2015
China DB2015
DB2015
DB2014
DB2015
Depth of credit
7 7 6 6 8 7 7 8 23 Economies (8)*
information index (0-8)
Credit registry coverage
0.0 0.0 33.2 0.0 0.0 56.2 0.0 0.0 Portugal (100.0)
(% of adults)
Credit bureau coverage
96.1 93.6 0.0 100.0 100.0 78.6 50.8 100.0 23 Economies (100.0)*
(% of adults)
Protecting Minority
2 3 132 35 21 5 3 4 New Zealand (1)
Investors (rank)
Protecting Minority
80.83 79.17 45.00 62.50 66.67 74.17 80.00 78.33 New Zealand (81.67)
Investors (DTF Score)
Extent of conflict of
interest regulation 9.0 8.7 5.0 7.0 7.0 8.7 9.3 8.3 Singapore (9.3)*
index (0-10)
Extent of shareholder
governance index (0- 7.2 7.2 4.0 5.5 6.3 6.2 6.7 7.3 France (7.8)*
10)
Strength of minority
investor protection 8.1 7.9 4.5 6.3 6.7 7.4 8.0 7.8 New Zealand (8.2)
index (0-10)
United Arab Emirates
Paying Taxes (rank) 4 4 120 122 25 32 5 16
(1)*
Paying Taxes (DTF United Arab Emirates
98.51 98.51 67.44 67.19 86.09 83.95 97.19 90.52
Score) (99.44)*
Payments (number per Hong Kong SAR,
3.0 3.0 7.0 14.0 10.0 13.0 5.0 8.0
year) China (3.0)*
Time (hours per year) 78.0 78.0 261.0 330.0 187.0 133.0 82.0 110.0 Luxembourg (55.0)
Trading Across Borders
2 2 98 20 3 11 1 15 Singapore (1)
(rank)
Trading Across Borders 95.36 95.46 71.68 87.23 93.45 89.94 96.47 88.32 Singapore (96.47)Doing Business 2015 Hong Kong SAR, China 14
United Kingdom DB2015
Best performer globally
Hong Kong SAR, China
Hong Kong SAR, China
Korea, Rep. DB2015
Singapore DB2015
Malaysia DB2015
Indicator
Japan DB2015
China DB2015
DB2015
DB2014
DB2015
(DTF Score)
Documents to export
3 3 8 3 3 4 3 4 Ireland (2)*
(number)
Time to export (days) 6.0 6.0 21.0 11.0 8.0 11.0 6.0 8.0 5 Economies (6.0)*
Cost to export (US$ per
590.0 590.0 823.0 829.3 670.0 525.0 460.0 1,005.0 Timor-Leste (410.0)
container)
Cost to export (deflated
590.0 575.5 823.0 829.3 670.0 525.0 460.0 1,005.0
US$ per container)
Documents to import
3 3 5 5 3 4 3 4 Ireland (2)*
(number)
Time to import (days) 5.0 5.0 24.0 11.0 7.0 8.0 4.0 6.0 Singapore (4.0)
Cost to import (US$ per
565.0 565.0 800.0 1,021.3 695.0 560.0 440.0 1,050.0 Singapore (440.0)
container)
Cost to import (deflated
565.0 551.2 800.0 1,021.3 695.0 560.0 440.0 1,050.0
US$ per container)
Enforcing Contracts
6 6 35 26 4 29 1 36 Singapore (1)
(rank)
Enforcing Contracts
80.32 80.32 68.21 69.95 81.71 69.39 89.54 68.08 Singapore (89.54)
(DTF Score)
Time (days) 360.0 360.0 452.8 360.0 230.0 425.0 150.0 437.0 Singapore (150.0)
Cost (% of claim) 21.2 21.2 16.2 32.2 10.3 37.3 25.8 39.9 Iceland (9.0)
Procedures (number) 26.0 26.0 37.0 32.0 32.0 29.0 21.0 29.0 Singapore (21.0)*
Resolving Insolvency
25 25 53 2 5 36 19 13 Finland (1)
(rank)
Resolving Insolvency
75.06 71.82 55.31 93.74 90.06 65.61 77.94 82.04 Finland (93.85)
(DTF Score)Doing Business 2015 Hong Kong SAR, China 15
United Kingdom DB2015
Best performer globally
Hong Kong SAR, China
Hong Kong SAR, China
Korea, Rep. DB2015
Singapore DB2015
Malaysia DB2015
Indicator
Japan DB2015
China DB2015
DB2015
DB2014
DB2015
Time (years) 0.8 1.1 1.7 0.6 1.5 1.0 0.8 1.0 Ireland (0.4)
Cost (% of estate) 5.0 9.0 22.0 3.5 3.5 10.0 3.0 6.0 Norway (1.0)
Outcome (0 as
piecemeal sale and 1 as 1 1 0 1 1 1 1 1
going concern)
Recovery rate (cents on
87.2 81.2 36.0 92.9 83.1 81.3 89.7 88.6 Japan (92.9)
the dollar)
Strength of insolvency
9.0 9.0 11.5 14.0 14.5 7.0 9.5 11.0 5 Economies (15.0)*
framework index (0-16)
Note: DB2014 rankings shown are not last year’s published rankings but comparable rankings for DB2014 that capture the effects of such
factors as data corrections and changes to the methodology. Trading across borders deflated and non-deflated values are identical in
DB2015 because it is defined as the base year for the deflator. The best performer on time for paying taxes is defined as the lowest time
recorded among all economies in the DB2015 sample that levy the 3 major taxes: profit tax, labor taxes and mandatory contributions, and
VAT or sales tax. If an economy has no laws or regulations covering a specific area—for example, insolvency—it receives a “no practice”
mark. Similarly, an economy receives a “no practice” or “not possible” mark if regulation exists but is never used in practice or if a
competing regulation prohibits such practice. Either way, a “no practice” mark puts the economy at the bottom of the ranking on the
relevant indicator.
* Two or more economies share the top ranking on this indicator. A number shown in place of an economy’s name indicates the number
of economies that share the top ranking on the indicator. For a list of these economies, see the Doing Business website
(http://www.doingbusiness.org).
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 16
STARTING A BUSINESS
Formal registration of companies has many WHAT THE STARTING A BUSINESS
immediate benefits for the companies and for
business owners and employees. Legal entities can INDICATORS MEASURE
outlive their founders. Resources are pooled as
several shareholders join forces to start a company. Procedures to legally start and operate a
Formally registered companies have access to company (number)
services and institutions from courts to banks as well
Preregistration (for example, name
as to new markets. And their employees can benefit
verification or reservation, notarization)
from protections provided by the law. An additional
benefit comes with limited liability companies. These Registration in the economy’s largest
limit the financial liability of company owners to their business city1
investments, so personal assets of the owners are not
Postregistration (for example, social security
put at risk. Where governments make registration
registration, company seal)
easy, more entrepreneurs start businesses in the
formal sector, creating more good jobs and Time required to complete each procedure
generating more revenue for the government. (calendar days)
What do the indicators cover? Does not include time spent gathering
information
Doing Business measures the ease of starting a
business in an economy by recording all procedures Each procedure starts on a separate day (2
officially required or commonly done in practice by procedures cannot start on the same day).
an entrepreneur to start up and formally operate an Procedures that can be fully completed
industrial or commercial business—as well as the online are recorded as ½ day.
time and cost required to complete these procedures. Procedure completed once final document is
It also records the paid-in minimum capital that received
companies must deposit before registration (or
within 3 months). The ranking of economies on the No prior contact with officials
ease of starting a business is determined by sorting Cost required to complete each procedure
their distance to frontier scores for starting a (% of income per capita)
business. These scores are the simple average of the
distance to frontier scores for each of the component Official costs only, no bribes
indicators. No professional fees unless services required
To make the data comparable across economies, by law
Doing Business uses several assumptions about the Paid-in minimum capital (% of income
business and the procedures. It assumes that all per capita)
information is readily available to the entrepreneur
and that there has been no prior contact with Deposited in a bank or with a notary before
officials. It also assumes that the entrepreneur will registration (or within 3 months)
pay no bribes. And it assumes that the business:
Is a limited liability company, located in the Has a start-up capital of 10 times income per
largest business city and is 100% domestically capita.
owned1.
Has a turnover of at least 100 times income per
Has between 10 and 50 employees. capita.
Conducts general commercial or industrial Does not qualify for any special benefits.
activities.
Does not own real estate.
1
For the 11 economies with a population of more than 100 million, data for a second city have been added.Doing Business 2015 Hong Kong SAR, China 17 STARTING A BUSINESS Where does the economy stand today? What does it take to start a business in Hong Kong SAR, the largest business city of an economy, except for 11 China? According to data collected by Doing Business, economies for which the data are a population-weighted starting a business there requires 3.0 procedures, takes average of the 2 largest business cities. See the chapter 2.5 days, costs 1.4% of income per capita and requires on distance to frontier and ease of doing business paid-in minimum capital of 0.0% of income per capita ranking at the end of this profile for more details. (figure 2.1). Most indicator sets refer to a case scenario in Figure 2.1 What it takes to start a business in Hong Kong SAR, China Paid-in minimum capital (% of income per capita): 0.0 Note: Time shown in the figure above may not reflect simultaneity of procedures. Online procedures account for 0.5 days in the total time calculation. For more information on the methodology of the starting a business indicators, see the Doing Business website (http://www.doingbusiness.org). For details on the procedures reflected here, see the summary at the end of this chapter. Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 18 STARTING A BUSINESS Globally, Hong Kong SAR, China stands at 8 in the other useful information for assessing how easy it is for ranking of 189 economies on the ease of starting a an entrepreneur in Hong Kong SAR, China to start a business (figure 2.2). The rankings for comparator business. economies and the regional average ranking provide Figure 2.2 How Hong Kong SAR, China and comparator economies rank on the ease of starting a business Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 19
STARTING A BUSINESS
Economies around the world have taken steps making it they often are part of a larger regulatory reform
easier to start a business—streamlining procedures by program. Among the benefits have been greater firm
setting up a one-stop shop, making procedures simpler satisfaction and savings and more registered businesses,
or faster by introducing technology and reducing or financial resources and job opportunities.
eliminating minimum capital requirements. Many have
What business registration reforms has Doing Business
undertaken business registration reforms in stages—and
recorded in Hong Kong SAR, China (table 2.1)?
Table 2.1 How has Hong Kong SAR, China made starting a business easier—or not?
By Doing Business report year from DB2010 to DB2015
DB year Reform
Hong Kong SAR, China, made starting a business easier by
DB2010 simplifying registration formalities and merging certain
procedures.
Hong Kong SAR (China) made starting a business easier by
DB2012 introducing online electronic services for company and
business registration.
Hong Kong SAR, China, made starting a business less costly by
DB2014
abolishing the capital duty levied on local companies.
Hong Kong SAR, China, made starting a business more difficult
DB2015
by increasing the registration fee.
Note: For information on reforms in earlier years (back to DB2005), see the Doing Business reports
for these years, available at http://www.doingbusiness.org.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 20
STARTING A BUSINESS
What are the details?
Underlying the indicators shown in this chapter for
STANDARDIZED COMPANY
Hong Kong SAR, China is a set of specific
procedures—the bureaucratic and legal steps that an
entrepreneur must complete to incorporate and Legal form: Limited Liability Company
register a new firm. These are identified by Doing
Business through collaboration with relevant local Paid in minimum capital requirement: HKD 0
professionals and the study of laws, regulations and City: Hong Kong
publicly available information on business entry in
that economy. Following is a detailed summary of Start-up Capital: 10 times GNI per capita
those procedures, along with the associated time and
cost. These procedures are those that apply to a
company matching the standard assumptions (the
“standardized company”) used by Doing Business in
collecting the data (see the section in this chapter on
what the indicators measure).
Table 2.2 Summary of time, cost and procedures for starting a business in Hong Kong SAR, China
Time to
No. Procedure Cost to complete
complete
Choose a company name and obtain a certificate of incorporation
A company name (which may be in English, traditional Chinese or both)
can be searched online free of charge at the Companies Registry
(www.icris.cr.gov.hk/csci/login_i.do?loginType=iguest&username=igues
t ), however the acceptability of a company name can only be
confirmed after an application has been processed.
A certificate of incorporation will be issued upon the filing of an
incorporation form signed by the founder member(s) (for companies
limited by shares this is a Form NNC1), a copy of the articles of
association and a Notice to Business Registration Office (IRBR1). The
HKD 1,720
incorporation form contains comprehensive information on the address application fee +
of the registered office and particulars of the first secretary and first HKD 2,000 business
Less than one day
1 directors of a company. Paper submissions for incorporation normally registration fee +
(online procedure)
require approximately four working days for the certificate to be issued. HKD 250 for
On 23 January 2014, the new Companies Ordinance (“the new CO”) business
abolishes the requirement to have a Memorandum of Association registration levy
(“MA”) as a constitutional document of a local company. A company
incorporated in Hong Kong under the new CO is only required to have
Articles of Association (“AA”).
With the implementation of the "e-Registry" in 2011, applicants can
now complete the incorporation and business registration process by
submitting electronic applications online to the Companies Registry
(www.eregistry.gov.hk). In straightforward cases, this enables registered
users to complete the relevant procedures and download the electronic
Certificate of Incorporation and Business Registration Certificate within
one day.Doing Business 2015 Hong Kong SAR, China 21
Time to
No. Procedure Cost to complete
complete
Agency: Companies Registry
Sign up Employee's Compensation Insurance and Mandatory
Provident Fund (MPF) Schemes with a private company or a bank
Under the Employees’ Compensation Ordinance, an employer must
possess a valid insurance policy to cover its employees (both full- and
part-time) who are fatally injured or disabled due to accidents arising
out of and during employment.
In addition, all employees ages 18–65 and employed for 60 days or
more under an employment contract (regardless of the number of work
hours) must enroll in an Mandatory Provident Fund ("MPF") scheme 1 day no charge
2
(except for persons exempted from the scheme) administered by any
MPF approved trustee in Hong Kong and such enrollment can be
arranged through MPF registered intermediaries, which includes banks
and insurance companies. The employer is also required to display the
participation certificate issued by the Mandatory Provident Fund
Authority at the work premises.
Agency: Labour Department; Mandatory Provident Fund Schemes
Authority (MPFA)
Make a corporate seal and company rubber stamp
Business founders can make a corporate seal and company rubber
stamp at the Sealmaker for HKD 215. 1 day HKD 215
3
Agency: Sealmaker
* Takes place simultaneously with another procedure.
Note: Online procedures account for 0.5 days in the total time calculation.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 22
DEALING WITH CONSTRUCTION PERMITS
Regulation of construction is critical to protect the WHAT THE DEALING WITH CONSTRUCTION
public. But it needs to be efficient, to avoid excessive
PERMITS INDICATORS MEASURE
constraints on a sector that plays an important part in
every economy. Where complying with building
regulations is excessively costly in time and money, Procedures to legally build a warehouse
many builders opt out. They may pay bribes to pass (number)
inspections or simply build illegally, leading to Submitting all relevant documents and
hazardous construction that puts public safety at risk. obtaining all necessary clearances, licenses,
Where compliance is simple, straightforward and permits and certificates
inexpensive, everyone is better off. Submitting all required notifications and
What do the indicators cover? receiving all necessary inspections
Doing Business records the procedures, time and cost Obtaining utility connections for water and
for a business in the construction industry to obtain sewerage
all the necessary approvals to build a warehouse in Registering the warehouse after its
the economy’s largest business city, connect it to completion (if required for use as collateral or
basic utilities and register the warehouse so that it for transfer of the warehouse)
can be used as collateral or transferred to another Time required to complete each procedure
entity. (calendar days)
The ranking of economies on the ease of dealing with Does not include time spent gathering
construction permits is determined by sorting their information
distance to frontier scores for dealing with
Each procedure starts on a separate day.
construction permits. These scores are the simple
Procedures that can be fully completed online
average of the distance to frontier scores for each of
are recorded as ½ day.
the component indicators.
Procedure considered completed once final
To make the data comparable across economies, document is received
Doing Business uses several assumptions about the
business and the warehouse, including the utility No prior contact with officials
connections. Cost required to complete each procedure (%
The business: of warehouse value)
Official costs only, no bribes
Is a limited liability company operating in
the construction business and located in Will have complete architectural and
the largest business city. For the 11 technical plans prepared by a licensed
economies with a population of more than architect or engineer.
100 million, data for a second city have
Will be connected to water and sewerage
been added. Is domestically owned and
(sewage system, septic tank or their
operated.
equivalent). The connection to each utility
Has 60 builders and other employees. network will be 150 meters (492 feet) long.
The warehouse: Will be used for general storage, such as of
books or stationery (not for goods requiring
Is valued at 50 times income per capita.
special conditions).
Is a new construction (there was no
Will take 30 weeks to construct (excluding all
previous construction on the land).
delays due to administrative and regulatory
requirements).Doing Business 2015 Hong Kong SAR, China 23 DEALING WITH CONSTRUCTION PERMITS Where does the economy stand today? What does it take to comply with the formalities to build largest business city of an economy, except for 11 a warehouse in Hong Kong SAR, China? According to economies for which the data are a population-weighted data collected by Doing Business, dealing with average of the 2 largest business cities. See the chapter construction permits there requires 5.0 procedures, takes on distance to frontier and ease of doing business 66.0 days and costs 0.4% of the warehouse value (figure ranking at the end of this profile for more details. 3.1). Most indicator sets refer to a case scenario in the Figure 3.1 What it takes to comply with formalities to build a warehouse in Hong Kong SAR, China Note: Time shown in the figure above may not reflect simultaneity of procedures. Online procedures account for 0.5 days in the total time calculation. For more information on the methodology of the dealing with construction permits indicators, see the Doing Business website (http://www.doingbusiness.org). For details on the procedures reflected here, see the summary at the end of this chapter. Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 24 DEALING WITH CONSTRUCTION PERMITS Globally, Hong Kong SAR, China stands at 1 in the provide other useful information for assessing how easy ranking of 189 economies on the ease of dealing with it is for an entrepreneur in Hong Kong SAR, China to construction permits (figure 3.2). The rankings for legally build a warehouse. comparator economies and the regional average ranking Figure 3.2 How Hong Kong SAR, China and comparator economies rank on the ease of dealing with construction permits Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 25
DEALING WITH CONSTRUCTION PERMITS
Smart regulation ensures that standards are met while compliance costs reasonable, governments around the
making compliance easy and accessible to all. Coherent world have worked on consolidating permitting
and transparent rules, efficient processes and adequate requirements. What construction permitting reforms has
allocation of resources are especially important in sectors Doing Business recorded in Hong Kong SAR, China (table
where safety is at stake. Construction is one of them. In 3.1)?
an effort to ensure building safety while keeping
Table 3.1 How has Hong Kong SAR, China made dealing with construction permits easier—or not?
By Doing Business report year from DB2010 to DB2015
DB year Reform
Hong Kong SAR, China, reduced the time required to obtain a
building permit by establishing a one-stop center that brings
DB2010
together 6 local departments and 2 private utility companies
under the same roof.
Note: For information on reforms in earlier years (back to DB2006), see the Doing Business reports
for these years, available at http://www.doingbusiness.org.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 26
DEALING WITH CONSTRUCTION PERMITS
What are the details?
The indicators reported here for Hong Kong SAR,
BUILDING A WAREHOUSE
China are based on a set of specific procedures—the
steps that a company must complete to legally build
a warehouse—identified by Doing Business through Estimated cost of
information collected from experts in construction HKD 15,078,186
construction :
licensing, including architects, civil engineers,
construction lawyers, construction firms, utility
City : Hong Kong
service providers and public officials who deal with
building regulations. These procedures are those The procedures, along with the associated time and cost,
that apply to a company and structure matching the are summarized below.
standard assumptions used by Doing Business in
collecting the data (see the section in this chapter on
what the indicators cover).
Table 3.2 Summary of time, cost and procedures for dealing with construction permits in Hong Kong SAR,
China
Time to
No. Procedure Cost to complete
complete
Obtain approval by submitting applications to the One Stop Center
BuildCo must submit the following documents for approval:
• Building plans (Forms BA5, BD24)
• General building plans
• Spread footing plans
• Hoarding plans
• Site formation plans
• Fire service installation plan (Form FSI/314)
• Drainage plan
In December 2008 a One Stop Center was established for Warehouse
Construction Permits under the administration of the Efficiency Unit
(EU) for receiving all relevant building license applications to 6
government departments and 2 private utilities (i.e. telephone line and
electricity supply) and coordinating their joint inspections for two-
storey warehouse projects. 45 days HKD 48,983
1
Property developers can use Form OSC-1 to submit to the One Stop
Center which combines all applications relating to building plans
approval and consent for commencement of building works from
Buildings Department, technical audit of water supply connection works
by Water Supplies Department, and road excavation permit from both
the Police and Highways Department. This new arrangement simplifies
the submission process by combining the following 5 procedures:
• Obtain building plans approval HKD 30,240.00
• Apply and pay for technical audit of water supply connection works
HKD 16,819.00
• Apply, pay and receive road excavation work permission from
Highways Department HKD 1,924.00
• Notify and obtain approval from traffic police
• Obtain building consent from Buildings Department
The total cost is HKD 48,983.00.Doing Business 2015 Hong Kong SAR, China 27
Time to
No. Procedure Cost to complete
complete
Agency: Hong Kong One Stop Center (OSC)
Request and receive inspection of foundation strata
At the approval stage for building foundation plans, the Buildings
Department normally imposes some requirements and conditions for
the construction of the foundation to ensure that the approved plans
and the required standards are complied with. Upon the completion of
the foundation, Form BA 14 and as-built foundation records must be
2 submitted to notify the Buildings Department that the foundation work 2 days no charge
has been completed. The form must be approved by the Buildings
Department before the next stage of construction can begin. The
construction site is inspected within 7 days of the notification.
Agency: Buildings Department
Submit notification of project completion and obtain certificate of
completion through the One Stop Center
Upon completion of construction, the following
applications/notifications can be submitted in one visit to the One Stop
Center for referral:
(a) Application to the Drainage Services Department for technical audit
for drainage connection works; HKD 4,340.00
(b) Application to the Fire Services Department for issue of Fire Services
Certificate (F.S. 172); HKD 3,440.00
(c) Application to the Buildings Department for Occupation Permit;
(d) Application to the Lands Department for issue of Certificate of
Compliance (certificate is received through OSC)
(e) Application for electricity, telephone line and notification to Water
Supplies Department for completion of plumbing works via the
3 Composite Form Cost; HKD 475.00 (cost included in procedure 6) 19 days HKD 7,780
(f) Application for a joint inspection, if preferred
(g) Notify Drainage Services Department of construction completion
and receive transfer inspection and issuance of water supply certificate
(h) Notify Water Services Department of construction completion and
receive transfer inspection
In March 2012, the Government and some utility service providers
collaborated to launch a Composite Form. BuildCo can submit
applications for electricity and telecommunication services and
notification to Water Supplies Department for completion of plumbing
works in one visit via the Composite Form to the One Stop Center
administered by the Efficiency Unit.
Agency: Hong Kong One Stop Center (OSC)Doing Business 2015 Hong Kong SAR, China 28
Time to
No. Procedure Cost to complete
complete
* Receive joint and final inspection of relevant licensing authorities
coordinated by the One Stop Center
4 1 day no charge
Agency: Hong Kong One Stop Center (OSC)
* Request and obtain water connection
5 1 day no charge
Agency: Hong Kong Water Supplies Department (WSD)
* Takes place simultaneously with another procedure.
Note: Online procedures account for 0.5 days in the total time calculation.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 29
GETTING ELECTRICITY
Access to reliable and affordable electricity is vital for WHAT THE GETTING ELECTRICITY
businesses. To counter weak electricity supply, many
firms in developing economies have to rely on self- INDICATORS MEASURE
supply, often at a prohibitively high cost. Whether
electricity is reliably available or not, the first step for Procedures to obtain an electricity
a customer is always to gain access by obtaining a connection (number)
connection.
Submitting all relevant documents and
What do the indicators cover? obtaining all necessary clearances and permits
Doing Business records all procedures required for a Completing all required notifications and
local business to obtain a permanent electricity receiving all necessary inspections
connection and supply for a standardized warehouse,
as well as the time and cost to complete them. These Obtaining external installation works and
procedures include applications and contracts with possibly purchasing material for these works
electricity utilities, clearances from other agencies Concluding any necessary supply contract and
and the external and final connection works. The obtaining final supply
ranking of economies on the ease of getting
electricity is determined by sorting their distance to Time required to complete each procedure
frontier scores for getting electricity. These scores are (calendar days)
the simple average of the distance to frontier scores Is at least 1 calendar day
for each of the component indicators. To make the
data comparable across economies, several Each procedure starts on a separate day
assumptions are used. Does not include time spent gathering
The warehouse: information
Is owned by a local entrepreneur, located Reflects the time spent in practice, with little
in the economy’s largest business city, in follow-up and no prior contact with officials
an area where other warehouses are Cost required to complete each procedure
located. For the 11 economies with a (% of income per capita)
population of more than 100 million, data
Official costs only, no bribes
for a second city have been added.
Excludes value added tax
Is not in a special economic zone where
the connection would be eligible for
subsidization or faster service. Is to either the low-voltage or the medium-
voltage distribution network and either
Is located in an area with no physical
overhead or underground, whichever is more
constraints (ie. property not near a railway).
common in the area where the warehouse is
Is a new construction being connected to located. Included only negligible length in the
electricity for the first time. customer’s private domain.
Is 2 stories, both above ground, with a total Requires crossing of a 10-meter road but all
surface of about 1,300.6 square meters the works are carried out in a public land, so
(14,000 square feet), is built on a plot of there is no crossing into other people's
929 square meters (10,000 square feet), is private property.
used for storage of refrigerated goods
Involves installing one electricity meter. The
The electricity connection: monthly electricity consumption will be
26880 kilowatt hour (kWh). The internal
Is 150 meters long and is a 3-phase, 4-wire
electrical wiring has been completed.
Y, 140-kilovolt-ampere (kVA) (subscribed
capacity) connection.Doing Business 2015 Hong Kong SAR, China 30
GETTING ELECTRICITY
Where does the economy stand today?
What does it take to obtain a new electricity connection Most indicator sets refer to a case scenario in the largest
in Hong Kong SAR, China? According to data collected business city of an economy, except for 11 economies for
by Doing Business, getting electricity there requires 4.0 which the data are a population-weighted average of the
procedures, takes 38.0 days and costs 1.4% of income 2 largest business cities. See the chapter on distance to
per capita (figure 4.1). frontier and ease of doing business ranking at the end of
this profile for more details.
Figure 4.1 What it takes to obtain an electricity connection in Hong Kong SAR, China
Note: Time shown in the figure above may not reflect simultaneity of procedures. For more information on the methodology of the
getting electricity indicators, see the Doing Business website (http://www.doingbusiness.org). For details on the procedures reflected
here, see the summary at the end of this chapter.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 31 GETTING ELECTRICITY Globally, Hong Kong SAR, China stands at 13 in the another perspective in assessing how easy it is for an ranking of 189 economies on the ease of getting entrepreneur in Hong Kong SAR, China to connect a electricity (figure 4.2). The rankings for comparator warehouse to electricity. economies and the regional average ranking provide Figure 4.2 How Hong Kong SAR, China and comparator economies rank on the ease of getting electricity Source: Doing Business database.
Doing Business 2015 Hong Kong SAR, China 32
GETTING ELECTRICITY
Obtaining an electricity connection is essential to enable ensure safety in the connection process while keeping
a business to conduct its most basic operations. In many connection costs reasonable, governments around the
economies the connection process is complicated by the world have worked to consolidate requirements for
multiple laws and regulations involved—covering service obtaining an electricity connection. What reforms in
quality, general safety, technical standards, procurement getting electricity has Doing Business recorded in Hong
practices and internal wiring installations. In an effort to Kong SAR, China (table 4.1)?
Table 4.1 How has Hong Kong SAR, China made getting electricity easier—or not?
By Doing Business report year from DB2010 to DB2015
DB year Reform
Hong Kong SAR (China) made getting electricity easier by
DB2012 increasing the efficiency of public agencies and streamlining
the utility’s procedures with other government agencies.
Source: Doing Business database.Doing Business 2015 Hong Kong SAR, China 33
GETTING ELECTRICITY
What are the details?
The indicators reported here for Hong Kong SAR, China
OBTAINING AN ELECTRICITY CONNECTION
are based on a set of specific procedures—the steps that
an entrepreneur must complete to get a warehouse
connected to electricity by the local distribution utility— CLP Power Hong Kong
Name of utility:
identified by Doing Business. Data are collected from the Ltd.
distribution utility, then completed and verified by
electricity regulatory agencies and independent City: Hong Kong
professionals such as electrical engineers, electrical
The procedures are those that apply to a warehouse and
contractors and construction companies. The electricity electricity connection matching the standard
distribution utility surveyed is the one serving the area assumptions used by Doing Business in collecting the
(or areas) in which warehouses are located. If there is a data (see the section in this chapter on what the
choice of distribution utilities, the one serving the largest indicators cover). The procedures, along with the
number of customers is selected. associated time and cost, are summarized below.
Table 4.2 Summary of time, cost and procedures for getting electricity in Hong Kong SAR, China
Time to
No. Procedure Cost to complete
complete
The client submits application for electricity connection and awaits
technical conditions from CLP Power Ltd.
Internal wiring works before connection of supply should be carried out
by a Registered Electrical Worker (REW) or a team of electricians led by a
REW . When it comes to the stage that supply is connected (e.g. for
testing or alteration after supply connection), the internal wiring works
should be carried out by the REW.]
The Registered Electrical Contractor (REC) and the REW should be
registered with the Electrical and Mechanical Services Department
(EMSD) of the Hong Kong SAR Government (www.emsd.gov.hk). The
clients requesting electricity supply need to complete a supply
application form and provide a document for identity verification (Copy
of identity or Business Registration Certificate). 8 calendar days HKD 0
1
The application form can serve the purpose of a supply contract. If the
client signs on the application form, it implies that they accept our
supply conditions. The supply conditions are detailed in the "Supply
Rule", which can be obtained in our Company website.
The client can submit the application for electricity connection with CLP
Power Ltd. online, in person, by mail, email, fax, or on the phone.
https://www.clponline.com.hk/myHome/CustomerService/OpenAccount/
Pages/Default.aspx
CLP Power usually keep in close contact with prospective new customers
so that a lot of supply provision preparation work would have been
commenced/completed prior to receiving the actual new supply
application from the new customers, thereby supply is always available
before the occupant moves in.You can also read
