Where to open an bank account for a HK company ?

[DeepDrilling]

I want to setup a new HK company for my business. I live in the EU but read it's possible to avoid huge taxes if I setup a HK company and don't be a owner or manager of the company.

But where do I bank, what bank will open an account for an foreign owned Hong Kong company? Best would be to have account in hond kong.

 

[Martin Everson]

DeepDrilling said:
I live in the EU but read it's possible to avoid huge taxes if I setup a HK company and don't be a owner or manager of the company.
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You may want to double check this depending on your situation.

DeepDrilling said:
But where do I bank, what bank will open an account for an foreign owned Hong Kong company?
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Maybe look at Statrys.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[JohnLocke]

Yeah Statrys is very popular when it comes to banking in Hong Kong.

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[Forester]

Martin Everson said:
You may want to double check this depending on your situation.
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Yes, exactly. E.g. if the company was effectively managed from the EU (not necessarilly by you), it would be taxed in the EU...

Martin Everson said:
Maybe look at Statrys.
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and / or Currenxie.

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

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[xeathk]

or Airwallex

 

[Forester]

xeathk said:
or Airwallex
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To be honest, I have not a good experience with Airwallex HK in the last 2 years, you have?

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[Xshore]

DeepDrilling said:
read it's possible to avoid huge taxes if I setup a HK company and don't be a owner or manager of the company.
Click to expand...

Yes, you don't have to pay taxes for HK companies that you don't own or manage.

 

[JohnLocke]

Xshore said:
Yes, you don't have to pay taxes for HK companies that you don't own or manage.
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But that would require that he hides it from his local tax authorities, which includes a risk if they figure it out there.

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[Xshore]

JohnLocke said:
But that would require that he hides it from his local tax authorities, which includes a risk if they figure it out there.
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? He don't have to hide it if he doesn't own or control the companies.

 

[DeepDrilling]

yeah but it is still my company, I need to do some contracting with the owner and director so they can't get away with it.

 

[Forester]

DeepDrilling said:
yeah but it is still my company, I need to do some contracting with the owner and director so they can't get away with it.
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Oh well. I guess I understand. Quite a tricky setup 😉. Yet beware of this, generally Where to open an bank account for a HK company ? and perhaps rather go to the Mentor Group section with this discussion... 🙂

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[MrGoodman]

In my opinion, if the company's activity is anything other than trade in goods, it will be extremely hard to open an account with any of those EMIs (Airwallex, Currenxie, Statrys, Worldfirst).

 

[DCble]

DeepDrilling said:
read it's possible to avoid huge taxes if I setup a HK company and don't be a owner or manager of the company.
Click to expand...

What have you read?

If your business activity is in the EU and you live in the EU it's not really possible to do this and save a lot of money. Likley opening yourself up to a whole host of problems in the future and fines with high interest.

 

[DeepDrilling]

okay thank you I will avoid it

 

[Legal]

DeepDrilling said:
I want to setup a new HK company for my business. I live in the EU but read it's possible to avoid huge taxes if I setup a HK company and don't be a owner or manager of the company.

But where do I bank, what bank will open an account for an foreign owned Hong Kong company? Best would be to have account in hond kong.
Click to expand...

Where you are tax resident?

Bank can Caye in Belize, Bank One in Mauritius and etc.

 

[EliasIT]

Legal said:
Bank can Caye in Belize, Bank One in Mauritius and etc.
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Do you have some experience with Caye in Belize ? They used to be very active and used by many people around all places I have come around. I never opened an account with them but watched their doings the last 4 - 5 years.

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[Legal]

EliasIT said:
Do you have some experience with Caye in Belize ? They used to be very active and used by many people around all places I have come around. I never opened an account with them but watched their doings the last 4 - 5 years.
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In offshore banking they are like Satchel in EMI's.

4 from 10 but for daily operations very good.

 

[linusAG]

Statrys
Airwallex
PingPongX
LianLian
Sunrate
OuiTrust
WorldFirst
PanPay
CBI Bank ( A Puerto Rican bank related to Chinese capital, but they do provide you with a Virtual Account in Hong Kong.)

 

[Legal]

linusAG said:
Statrys
Airwallex
PingPongX
LianLian
Sunrate
OuiTrust
WorldFirst
PanPay
CBI Bank ( A Puerto Rican bank related to Chinese capital, but they do provide you with a Virtual Account in Hong Kong.)
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Will be super interested if you mention which from this institutions are providing service to BVI companies?

 

[SCHLOSSFINANZ]

I strongly recommend Amnis

www.amnistreasury.com

they onboard HK companies