Learn on How to Set Up a Publishing Business in Hong Kong
Contrary to popular belief, Hong Kong actually has broad freedom of speech, freedom of the press and freedom of the publication, which is protected by Article 16 of the Hong Kong Bill of Rights and Article 27 of the Hong Kong Basic Law. The nation is filled with locals and foreigners everywhere, seeking to start a profitable business in the land of opportunities. The publishing industry in Hong Kong thrives on the city’s regional publishing and printing centre. After earning the moniker ‘land where East meets the West’, international media, book publishers and publishing trades often take place in the strategic city to manage their production and distribution. If you’re wondering how to set up a publishing business in Hong Kong, look no further. Let us guide you through the basic of creating a publishing company in Asia’s World City.
Why Should I Set Up a Publishing Business in Hong Kong?
Over the decades, the publishing industry has been proliferating in the region and continues contributing to the local economy. Apart from that, Hong Kong is also known to preserve and uphold the Chinese language; efforts in that aspect can be seen in the publication of Chinese literature. Publishing business can bear lucrative results as Hong Kong is a significant exporter of publishing materials, especially to countries such as mainland China, Japan, Korea, Australia, United States, United Kingdom and more. With the influx of technological advancement, publishing materials are converted online and has stimulated the exponential growth of e-publishing business as well. This has pulled in various big investors to the country.
Setting up your own publishing company will encourage writers to across the region to subscribe to your service. This will not only ensure new writers’ assurance, but seasoned writers will also have a place to write independently to their creativity’s content. Here are some advantages that come with establishing your very own publishing company:
- Be your own boss
- Conveys professionalism and expertise
- Protects yourself, your work, and your assets in case of a lawsuit
- Management of creative control
- A legal entity to properly contract to co-write and to license
- Higher profits and revenue
- Future opportunities to publish books by other authors
Procedures Involved in Setting Up a Publishing Company
Take a look at the steps below to understand the guidelines for business owners to register their publishing company in Hong Kong:
- Choose a company in the form of private limited liability company, public limited liability company or opt for a partnership, if you’re willing to share with a fellow business partner.
- Choose an untrademarked name and register it under Companies Registry. If you are digitalising your publishing business, be sure to check the domain name availability.
- Subsequently, you will also have to obtain special permits and licenses. Check out licensing, registrations and regulations for publishing business in Hong Kong.
The Bottom Line
With laws present to safeguard the freedom of publishing in Hong Kong, it is safe to say that there will be no lacking in demand for publishing products or services any time soon. Hong Kong is the premier international hub for cultural, trade and business opportunities such as; published materials, regardless of the language it is printed in, will strive just as much as other world languages. On that note, keep in mind that publishing business is like any other business and has its own sets of risk. So, be sure to do in-depth research before starting your exciting venture!