Hong Kong Incorporation
- Thread starter JohnLocke
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An Hong Kong incorporation is what I would consider if I'm looking at doing business in China, It would for sure make it more legit also if you want to get Hong Kong domain name and hosting a company incorporated in China / Hong Kong will be required.
Incorporating a business in Hong Kong can have many benefits but also a downside of the medal. For me it is important that the company looks legit that's why I'm 90% certain that I will incorporate in Cyprus but 10% says Hong Kong because an company in HK looks as legit as Cyprus!
I used to own a Hong Kong company but for about 1 year I left it and don't renew because it was not worth it for my business. I'm doing good with my Cyprus and other offshore companies.
For 9 month I have my Hong Kong company now. I must say everything is working just smooth with all of it. I don't know why people have problems using their company there but I believe it's because they don't have the money to pay for the costs to maintain the company which I agree is costly.
I believe it is still an option for people doing business in HK and china generally speaking. You just need to be aware of the high maintainance costs to operate a company in Hong Kong!
I was reading this thread for some time and it scares me ? any input Hong Kong is a trap, a fake good offshore jurisdiction
It's not fake - I'd rather say, it's more for honest business now.
Before it was easy and cheap (beside travel expenses maybe).
It can be a trap if you hope that you can set up a company with bank account there for fishy business, I'd say, because chances are it's not working out as one might hope from past experiences.
Simply don't expect it being easy to open a bank account in HK.
If you are looking for an easy offshore solution, that's probably not HK (anymore).
Maybe opening a bank account elsewhere for a HK company might be easy, but I so little use for that.
Before it was easy and cheap (beside travel expenses maybe).
It can be a trap if you hope that you can set up a company with bank account there for fishy business, I'd say, because chances are it's not working out as one might hope from past experiences.
Simply don't expect it being easy to open a bank account in HK.
If you are looking for an easy offshore solution, that's probably not HK (anymore).
Maybe opening a bank account elsewhere for a HK company might be easy, but I so little use for that.
When reading about Hong Kong companies to be a Trap by some forum user! I wonder is there a reliable agent in Hong Kong where we can register a company and open an account?
Register a company - no prob at all.
Opening a bank account - most agent lost their contacts to banks because most worked with HSBC but HSBC changed their ideas of which kind of customers they want.
Some agents might have contacts to other banks - but I am not sure.
Also keep in mind in order to maintain the company you also need to do auditing. That can be a lot of work or cost a lot of money.
I am using a service that takes care of the accounting and auditing at a flat fee (payable tax can be low 😉 still in HK).︀ PM if interested. They might also have a way to get you a bank account.︁ But all this is not as cheap as it used to be in HK.
Opening a bank account - most agent lost their contacts to banks because most worked with HSBC but HSBC changed their ideas of which kind of customers they want.
Some agents might have contacts to other banks - but I am not sure.
Also keep in mind in order to maintain the company you also need to do auditing. That can be a lot of work or cost a lot of money.
I am using a service that takes care of the accounting and auditing at a flat fee (payable tax can be low 😉 still in HK).︀ PM if interested. They might also have a way to get you a bank account.︁ But all this is not as cheap as it used to be in HK.
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