Digital Nomad in Hong Kong – The Ultimate Guide
Do you want to step out of your mundane life working in an office cubicle? Ever wondered what your life would be like working from anywhere in the world as a digital nomad? Then you should introduce yourself to the world’s best digital nomad hotspot, Hong Kong! If you are an entrepreneur who wants flexibility, travelling, and willingness to take risks, then you are a true digital nomad at heart.
With the rise of digital technology, the ways of engaging in work have been shifting drastically. The phase of working like robots in a 9 to 5 office job has on a steady decline. Due to this, it is given rise to the trend of a digital nomad.
A digital nomad is an amorphous group of remote workers that leverage technology to perform their work.
Generally, it is done in a nomadic manner where business owners can work from home or away in any location. But its important for the place to have a good internet connection so that you can do work properly.
If you are really serious about becoming a digital nomad and looking for the perfect digital nomadic hotspot, then Hong Kong should be on your radar. This city is renowned for its business-friendly environment and access to information.
Let’s move now to Hong Kong, and start working as a digital nomad!
Why is Hong Kong best for Digital Nomads?
Do you want to know the reasons why Hong Kong is known to be the best hotspot for digital nomads? Well, there are a many reasons for starting a business in Hong Kong as a digital nomad. As per the South China Morning Post, one of the top newspapers in Hong Kong, the city has attracted countless entrepreneurs to start their business here.
This is all thanks to its high connectivity level, good technological development, cost-effective lifestyle and friendly ecosystem. In fact, as per the Nomadlist, the Nomad Score in Hong Kong is found to be 2.97 out of 5, a high score for cities attracting this lifestyle, which is one of the reasons why digital nomads should choose Hong Kong for their work. And what about the internet connectivity?
Since the line between sanity and insanity for digital nomads is drawn by the wifi connection, so it seems the most obvious factor for selecting this place. Fortunately, in Hong Kong, the internet connectivity has a super-fast speed of approximately 75Mbps on average, making it a great places to work. Due to these reasons, more entrepreneurs are selecting Hong Kong as their next temporary home.
There is no denying the fact that digital nomadism has opened the path for individuals to embrace the new remote working lifestyle around the globe, especially in Asia. However,how exactly can you successfully live the life of a digital nomad in Hong Kong? If you are the one searching for the answer, we’ve got you covered with some tips and resources for you.
Digital Nomads Lifestyle in Hong Kong
If you are thinking of becoming a digital nomad in Hong Kong, then you may be wondering about the lifestyle here. Hong Kong has a wide range of accommodations, regardless of your budget. You can select accommodation anywhere from budget hostels to 5 star hotels, accordingly to your budget.
However, it can be on the pricey side. But if you are planning on staying for a few months, the bill can accumulates quite fast . This is why many digital nomads choose to stay in hostels because they are budget-friendly and sociable.
If you want to stay in the city, especially a place close to the popular hangout spots, then try hostels in Tsim Sha Tsui on the Kowloon side or in the Wan Chai area on Hong Kong Island. However if you are looking for something more permanent, you could consider co-living spaces, which are becoming popular among younger adults for their living arrangements.
There are several concepts of co-living spaces becoming popular in Hong Kong. Under this setup, people can have their private rooms and separate sitting arrangements for conducting meetings. Moreover, there are plenty of spacious and amazing communal hangouts areas that can help you grow your contacts by meeting with other entrepreneurs and investors.
On the other hand, Couchsurfing is another option for those entrepreneurs who want to meet and stay with local citizens and hosts. With this approach, you can get a brilliant chance to travel around and meet other travelers, locals ,and nomads. The best part is you get the chance to stay with the host for free.
Starting a Business in Hong Kong – Roles in a Hong Kong company (Director, Shareholder, Company Secretary)
Starting a business in Hong Kong is an easy and straightforward process. Due to this, lots of entrepreneurs are setting up their own companies in their name in Hong Kong to enjoy the maximum benefits of running a business. What’s more, its low barrier to entry and the friendly business culture makes this place an attractive city to do business in.
If you want to get help to start a business in Hong Kong, then Startupr can act as your company secretary to assist you on setting up a company. As a matter of fact, a every company needs to have at least one director, one founder member (shareholder), one company secretary, and a registered address.
And here is where Startupr fits in. We will help you to get a registered office address and act as a company secretary, so you can effectively serve as the director of the company. Let’s read a quick brief about the roles of directors, company secretary, and shareholders first before we move on.
What are the roles of directors?
The following are the general principles of the director’s duties that you should know-
- Avoid conflicts between the company’s and your personal interests.
- Do not gain benefits from the position as a director of the company.
- Update the books of account.
- Use powers for a genuine purpose for the benefit of members as a whole.
- Exercise care, skill, and diligence.
- Do not accept a personal benefit from third parties.
- Do not delegate powers except with proper authorization and the duty to exercise independent judgment.
- Do not enter into transactions in which the directors have an interest, except in compliance with the requirements of the law.
- Observe the company’s Articles of Association.
- Act in good faith for the benefit of the company as a whole.
- Do not make unauthorized use of the company’s property or information.
What are the role of the Shareholders?
The shareholders of the company are responsible for the goal, vision, and the actions of the company. Shareholders have the rights to oversee the directors and ensure they are acting in the best interest of the company. Shareholders also hold a proportion of the company to the shares they own which results in their votes during the Annual General Meeting (AGM).
When the company starts making profits, shareholders are also entitled to the profits as a mean of dividends. The shareholders have the power to modify provisions in the company’s Articles and can disallow alteration of the company’s capital.
What is the role of the Company Secretary?
In Hong Kong, a private limited company needs to have a local resident company secretary, either an individual or body corporate. A company secretary is a principal officer of any company because it will play the role of “Chief Administrative Officer” discharging his/her duties as per the law. The company secretary is responsible for:
- Incorporating Hong Kong companies.
- Preparing and filing of the Annual Return.
- Providing a Hong Kong resident company secretary as required by HK company law.
- Attending to the issuance and transfer of shares.
- Providing of a registered office address for receipt of government mail.
- Meeting appointment and resignation of directors.
- Meeting other statutory corporate compliance issues.
- Attending to the deregistration of companies.
If you are serious about starting up a business in Hong Kong, then you can take the help of Startupr. With the freedom to work wherever you want as a digital nomad, Hong Kong is a place of plenty of possibilities.
Choosing Coworking spaces in Hong Kong
If you are looking for more flexible spaces to work, then you should consider working in a coworking space. In Hong Kong, you will find plenty of coworking space within your budget. Nowadays, coworking spaces have become one of the best alternatives from a traditional office. These places allow business owners to have the same benefit of office-life without being restricted to one particular space. Here are some suggestions before choosing the best coworking space in Hong Kong.
Evaluating a Space
The first suggestion before making up your mind is to properly assess the space. While evaluating the space, you need to check whether the space can help connect with the outside world or what kind of physical environment this place is offering. Before selecting the space that is right for you, each need should be evaluated properly.
What about the physical environment of the coworking spaces? The typical needs for a coworking space are good internet connectivity, electricity, a roof, and a working surface. If you are a silent worker, who doesn’t want to communicate with people while working, then probably a noisy cafe is not the best location for you. Therefore, It is preferable to explore various places before you can choose your place to work.
Several coworking spaces offer additional perks to the business operations. The perks can vary from nice-to-have add-ons to bizarre services that resonate with a select few. So, if you want to enjoy the maximum perks, then you should look for these places which are offering these kinds of facilities. Here are a few of the perks made available at coworking spaces.
- Unlimited, free coffee
- Yoga classes
- Nap room
- Discounted food
- Mail services
- Virtual receptionists
- Gaming spaces (i.e., ping-pong or foosball)
Now you must be looking for the best coworking spaces in Hong Kong so you can start your business as a digital nomad. Well, check out the Desk Strand 50. This place ensures that the value of co-working being people, connections and community is focused on more than the lush furniture and fancy pantries. Their places are the canvas, and the people working there are considered the stars. Below are some amenities & services that you will receive-
- 24/7 secure access
- Meeting rooms
- Private lockers
- Private call areas
- 24 hours CCTV monitoring
- Multi-functional event space
- Collaborative space
- Fast Wi-Fi
- Complimentary beverages
- Utility bills & management fee included
- Business address
- Mail service
- Receptionist services
This place offers so much more than a normal co-working space. Make your decision as per your requirements and needs of your business plan. And if you want some help, Startupr has you covered. We provide assistance to our clients, especially for coworking spaces and refer our clients to the Desk Strand 50. This is the perfect place where you can receive good services.
Choosing Coffee shops to work in Hong Kong
Hong Kong is also home to many coffee shops sprawled out throughout the city. In several cafes, you will find people working on their laptops. The connection of digital nomads with a coffee shop is just like a relationship with an office manager.
They usually spend a full 9 hours in a coffee shop to complete their work tasks. So, if you are the one who wants to start working as a digital nomad in Hong Kong and also want to save money, then the coffee shops of Hong Kong are a good choice for you.
There are a plethora of ways to choose the best coffee shop for your work. Here are the key factors when choosing a good coffee shop for working:
Wi-Fi Strength & Access
The first and foremost thing that you needs to focus on while selecting the best coffee shops in Hong Kong is internet connectivity. How secure is the connection? And in how much is it to get access? Since public places are known for having a low connectivity level, you need to make sure that you are choosing the right place. If you want to find out the connectivity level of the Wi-Fi, then you can test it while in the queue or ask one of the staff.
What about the opening hours? Whether you are an early bird or night owl, you need to check the opening hours of the coffee shops. For some coffee shops, the closing time is 4 pm, while for others, it is very flexible. Check websites, or the front door for full opening hours before you get started.
By now, you might have a good idea about the digital nomadic lifestyle of Hong Kong, and why many people are moving to this place to start their new company. If you are the one thinking of moving to Hong Kong as a digital nomad, then we hope that this guide has helped you discover living in Hong Kong. For more information about starting a company in Hong Kong and registering it at a low cost, then Startupr can help you.