HKMB Hong Kong Means Business

Hong Kong Means Business Hong Kong Means Business
  • Login / Register

Languages

  • EN
  • 繁
  • 简
  • Events
  • My Feed
  • Contact HKTDC
  • Subscribe
  • Subscribe

Section Menu

  • Market Opportunities
  • Tech & Innovation
  • Entrepreneurship
  • Sustainability
  • Creativity & Lifestyle
  • HKTDC Updates
  • Featured Topics

Languages

  • EN
  • 繁
  • 简
  • HKTDC.com |
  • About HKTDC |
  • My HKTDC |
  • Login / Register |

HKTDC.com About HKTDC My HKTDC

Login Register

Hong Kong Means Business

Section Menu

  • Market Opportunities
  • Tech & Innovation
  • Entrepreneurship
  • Sustainability
  • Creativity & Lifestyle
  • HKTDC Updates
  • Featured Topics

https://origin.hkmb.hktdc.com/en/1X0AHGI6

Market Opportunities
SAVE FOR LATER
SHARE / SEND

"Scan QR Code" in WeChat and tap "..." to share.

Cutting-edge smart-city firm picks Hong Kong

A wireless mesh developer that operates across the world found the city ticks all the right boxes as the site for its global headquarters.

04 June 2019



Winfred Fan
Winfred Fan − CEO, Anywhere Networks

“Our business is international but the location for our headquarters is strategic,” Anywhere Networks CEO Winfred Fan said when explaining why the technology company decided to establish its base in Hong Kong. “The thought process was focused on which city would provide us with the best advantages for our business,” Mr Fan said. Established in 2016, Anywhere Networks (formerly P2 Wireless Technologies) designs and manufactures scalable, high bandwidth network solutions, mainly for use with smart city and safe city surveillance camera operations.

“We looked at a number of other cities before we finally decided to set up our headquarters in Hong Kong,” Mr Fan said. Shortlist options included Australia, Hong Kong, Silicon Valley and Singapore, but it soon became clear the collective advantages Hong Kong could offer made it the best-fit option for the company. In addition to offering one of the world’s lowest rates of business and salaries tax, Hong Kong has no sales tax, withholding, capital gains or dividend-based taxes. “The Hong Kong tax system alone is a big attraction,” Mr Fan noted.

With about 1,000 daily flights between Hong Kong and the rest of the world, the city is less than a four-hour flight to major Asian destinations. At the same time, Hong Kong’s proximity to one of the main manufacturing bases in Mainland China, less than an hour across the boundary from Hong Kong, offers flexibility and efficiency in prototyping. “I can travel to the mainland easily and manage the prototyping and production whenever I need to,” Mr Fan noted.

Subtle benefits

In addition to its many commercial advantages, Mr Fan said establishing the company headquarters in Hong Kong also offers intangible benefits. Citing the real-estate mantra, “location, location, location”, he said having its headquarters in the Hong Kong Science Park – where there is a strong focus on work and innovation – means the company is part of a dynamic ecosystem. “There is an element of prestige about being located here,” Mr Fan said. Just as important is Hong Kong’s respected position in the international marketplace. Mr Fan pointed out that products and services from Hong Kong have a high international “trust” attachment.

For Anywhere’s overseas non-Chinese employees, Hong Kong is a bilingual city, where most information – including signs, announcements and government and business websites – is provided in English as well as Chinese. A further benefit is the rapid processing of immigration and work visas for overseas professionals joining the company in Hong Kong. Mr Fan also gives Hong Kong high marks for overall economic freedom, transport infrastructure and language skills. As a provider of critical wireless broadband infrastructure, Hong Kong is open to interaction with international markets, which reduces some of the possible business relationship complexities of being headquartered in the United States or the mainland.

Talent pool

Anywhere Networks connectivity devices
Anywhere Networks connectivity devices

As the cost of installing surveillance camera units has fallen significantly in recent years, the demand to capture video feeds from their point of origin and connect them to control rooms where they can be monitored or analysed has increased exponentially. In turn, this rise boosts demand for high-performance connectivity devices. To meet expanding demand for its products and services, Mr Fan said access to a talent pool of computer engineers and software professionals is paramount.

In addition to recruiting graduates from Hong Kong’s internationally renowned universities, the company has successfully brought in employees, which the company refers to as colleagues, from careers events organised by the Hong Kong Science Park. Currently, Anywhere Networks has a headcount of about 30 colleagues, including five engineers based in its US research and development office. Looking ahead over the next couple of years, Mr Fan expects the company’s team to double to about 60 people.

Going public

With innovation and technology companies fast becoming key drivers of the global economy, Mr Fan said the company is considering an initial public offering (IPO). In the same way as locating the Anywhere headquarters is an important element of business strategy, Mr Fan said choosing where to launch an IPO also requires careful consideration. However, he noted that Hong Kong’s long-standing reputation as one of the world’s leading destinations for capital-raising among major financial markets is another strategic advantage the city offers.

Related links
Anywhere Networks
HKSTP
Think Asia, Think Hong Kong - Los Angeles

BACK TO TOP ^
CONTENT PROVIDED BY
    Topics:
  • Hong Kong,
  • start-ups,
  • networking,
  • Innovation and Tech; Smart City,
  • venture capital
  • Hong Kong
Home

Article Topics

ARTICLE TOPICS

HONG KONG36026
START-UPS98715
NETWORKING89302
INNOVATION AND TECH;...136361
VENTURE CAPITAL97135

ARTICLE TOPICS

HONG KONG36026
START-UPS98715
NETWORKING89302
INNOVATION AND TECH; SMART CITY136361
VENTURE CAPITAL97135

interest_article

YOU MAY BE INTERESTED IN

03 February 2023

Success beckons at expo

12 January 2023

Closing the fintech gap

05 January 2023

Blueprint for innovative future

28 December 2022

Innovation revolutionises port operations

Related Events

RELATED EVENTS

19 - 22 April 2023

HKTDC Hong Kong Gifts & Premium Fair 2023 (Physical Fair)

19 - 21 April 2023

Asian Licensing Conference 2023

19 - 21 April 2023

HKTDC Hong Kong International Licensing Show 2023

17 - 21 August 2023

HKTDC Home Delights Expo 2023
FIND AN EVENT

Social Share

FOLLOW US

GET WEEKLY UPDATES

newpaper-img

GET OUR WEEKLY EMAIL UPDATES

banner-img


I acknowledge that the above information may be used by the Hong Kong Trade Development Council (HKTDC) for incorporation in all or any of its database for direct marketing or business matching purpose (and may therefore become available to the public within and/or outside of Hong Kong for use by them), and for any other purposes as stated in the Privacy Policy Statement; I confirm that I have the consent and the authority of each individual named in this form to release their personal data for the purposes stated herein.


*For non-EU/EEA customers, please skip this box which is solely for EU/EEA customers as required by the relevant data protection law in the EU.

THANK YOU

Thank you for registering.

SHARE THIS STORY

EMAIL
LINKEDIN
WeChat
FACEBOOK
TWITTER
WHATSAPP

ID: HKTDCofficial

Don't have an account?

Create An Account

successfully added on your preferences.