If I register a limited company in Britain but I manage it from France, that company will be taxable in France to a greater or lesser extent. While it may be possible to distribute profits in a more tax-efficient manner, a company cannot operate in a country but completely avoid paying tax by mere fact of being incorporated abroad. Simply employing a contractor or renting a server in a country may be sufficient to fall under the Permanent Establishment rules.

International taxation is punishingly complex. Inadvertent evasion is easy and mistakes expensive. If your company is only paying tax in Hong Kong but has offices or employees elsewhere, you need to contact a competent accountant now.