Advantages of Company Incorporation

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 The main advantage of incorporating your business or company formation is it separates and protects your personal assets, which eliminates the risk for your company to go into debt or have lawsuits. 

But more than that, there are a lot of pros that can help your business to grow further when you start to incorporate them : 

Tax Benefits. Personal income tax is applied to your LLC instead of corporate income. 

Flexible-Profit Sharing Plan. Easier to set up a profit distribution between business owners and easily control who gets the profits and when. 

Minimal Annual Paperwork. LLCs don’t have to follow specific regulations besides paying taxes and state law compliances. 

Business Credibility. More recognized as a formal business structure than Sole Proprietorship letting customers and other professionals have a better impression of your business. 

Incorporating your business in the early stage will play a significant role in its growth and success in the future. 

Effortlessly register company in Hong Kong here : 

https://asiabc.co/services/company-registration/hk-with-fintech-account/

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