Macau, adjacent to Guangdong Province, is an international city with a fusion of Eastern and Western cultures. It has the advantages of "one country, two systems", inclusiveness, openness, social stability, and good public security.
Recently, the Macau Legislative Council passed the "Law on Talent Introduction System" and announced that the relevant law will take effect on July 1, 2023. So, what are the advantages of planning a Macao identity?
Low tax rate and simple tax system
Macao's tax system is relatively simple, with fewer types of taxes, lighter tax burdens, and lower tax rates than neighboring countries and regions. The tax jurisdiction principle of the source of income is implemented, which is divided into direct taxes and indirect taxes.
Direct taxes are mainly: business tax, income supplementary tax, professional tax, housing tax;
Indirect taxes are mainly: stamp duty, consumption tax, export tax, tourism tax, etc...
Among them, companies engaged in business activities in Macau need to pay corporate income supplementary tax, that is, net profit tax. According to regulations, the taxable income tax rate for the part exceeding 600,000 patacas is 12%, while the corporate income tax rate in the Mainland is 25%.
Macau's professional tax, that is, personal income tax, has a maximum personal income tax rate of only 12%, and a basic tax exemption of 144,000 patacas; while the mainland's personal income tax rate can reach up to 45%!
Free and Open Business Environment
Macao is one of the two free ports in China, where goods, capital, foreign exchange, and personnel can enter and exit freely, and has the status of a separate customs territory. It is also one of the regions with the lowest tax rates in the region, providing a good investment environment for investors from all over the world. Its investment attractiveness is mainly reflected in:
01
excellent location
Macau is located in the southwestern part of Guangdong Province, where China's economic growth is the most active, and has very convenient sea, land and air transportation connections in the region.
02
Perfect infrastructure construction
Macau has a well-equipped international airport and container terminals, as well as a complete telecommunication system and a rapidly developing regional transportation network.
03
sound financial system
Macau can provide a full range of financial services such as banking, insurance, and pension fund management, as well as a complete financing and fund settlement system. As of the first quarter of 2021, the total international assets of Macau's banking industry reached 2 trillion patacas, the capital adequacy ratio reached 15.13%, and the non-performing loan ratio was 0.38%.
04
ideal business environment
Macao's business operation rules are in line with international practices, and the procedures for foreign and local investors to set up companies are the same.
At the same time, the Macau SAR government implements a series of policies to encourage investment, including providing investors with various tax and financial incentives, and providing investors from all over the world with an ideal investment environment for fair competition.
05
simple low tax system
Income Supplementary Tax ranges from 3% to 12%; Immovable Property Transfer Stamp Duty ranges from 1% to 3%; Professional Tax ranges from 7% to 12%.
06
international connection
Macao has close ties with the international economy and has participated in more than 120 international organizations, including the World Trade Organization (WTO), the United Nations Educational, Scientific and Cultural Organization (UNESCO), and the World Tourism Organization (UNWTO), and has close ties with the European Union and Portuguese-speaking countries.
15 years of free education
Macao has a good education system and quality, and is the first region in Greater China to provide 15 years of free education.
In 2006, the Macao Special Administrative Region Government promulgated the "Non-Higher Education System Outline Law". The law stipulates that free education will be expanded from the original 10 years of formal education to 15 years, including 3 years of early childhood education, 6 years of primary school education, 3 years of junior high school education, and 3 years of high school education.
In addition to free education, the Macao Special Administrative Region Government provides tuition subsidies to Macao Special Administrative Region resident students studying in private schools that have not joined the free education school system.
In addition, Macao residents also enjoy a comprehensive medical and social security system, and holders of Macao SAR passports can enjoy visa-free or visa-on-arrival treatment for more than 140 countries and regions, fully meeting the multiple living needs of applicants such as work, study, and retirement.
Like Hong Kong, Macau is also an ideal place to live for many outstanding talents and high-net-worth individuals. If you are interested in planning Hong Kong identity or Macau identity, please contact Xingyunhai International, we will provide you with professional answers and services!
Cyprus
Turkey
Saint Kitts and Nevis
Greece
