According to the French consulate, the number of French expatriates in Hong Kong is increasing and there are currently an estimated 17,000 living in the city.
Hong Kong remains a viable option for many French youths because the atmosphere in France is not easy, and growth is not as strong as it is in Hong Kong.
French businesses in the city are really a snapshot of Hong Kong’s gross domestic product. Expatriates have started businesses in all sorts of sectors, including retail, construction and hospitality.
There are a number of factors propelling this trend: the perceived ease of doing business compared to France, the appeal of French products to native Hong Kongers and expatriates alike as well as the growing French community itself, which reinforces the demand for homegrown goods and services.
The French entrepreneurs believe setting up a business in Hong Kong is easier than it would be back home, given the relative lack of bureaucracy and low start-up costs.
The French government is not supportive enough and French entrepreneurs as being more constrained. There is plenty of innovative spirit in France; the government makes it difficult for businesses to get started while Hong Kong gives the will to start as entrepreneurs and also the idea to set up our own company.
Rents are higher, but the costs of doing business are mitigated by lower tax. The time and paperwork needed to register a business is far less and companies such as Centre O Connect Business Centre are here to help you in this process.