Is HongKong offshore a tax free? Is HongKong a reliable Jurisdiction?

[james David]

Dear All,
Please advise us more about HongKong off shore. Is it tax free? Is HongKong a reliable Jurisdiction?

Do you recommend another Jurisdictions?

Because we are seeking for "White off shore" Not like Belize or Seychelles.

Your opinion is so important, please share it

 

[Uillians]

james David said:
Dear All,
Please advise us more about HongKong off shore. Is it tax free? Is HongKong a reliable Jurisdiction?

Do you recommend another Jurisdictions?

Because we are seeking for "White off shore" Not like Belize or Seychelles.

Your opinion is so important, please share it
Click to expand...

Yes and very safe, but the costs are higher to keep the company, one or another accessory company until you can open a bank account without you need to go to Hong Kong, but at a moment's notice you will be called to visit the bank and you have to be prepared for a meeting with a banker of one to two hours, on tax if your sales are outside hong kong yes they are exempt, but have to be with the company properly structured in well accessorized, a good alternative and open company in hk initially use the business neat business and when you have a considerable sales volume go to hong kong and open bank account, you will have what to show the banker they do not want to waste time

 

[Martin Everson]

james David said:
Dear All,
Please advise us more about HongKong off shore. Is it tax free? Is HongKong a reliable Jurisdiction?

Do you recommend another Jurisdictions?

Because we are seeking for "White off shore" Not like Belize or Seychelles.

Your opinion is so important, please share it
Click to expand...

What is your activity?
Where are your customers based?
Where are you based?
Why did you ask about Hong Kong?

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

 

[clemens]

Hong Kong can work very well for you. However, what I would suggest is to check out Marshall Islands and St. Kitts or the more known Belize!

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[james David]

Martin Everson said:
What is your activity?
Where are your customers based?
Where are you based?
Why did you ask about Hong Kong?
Click to expand...

1. commercial and industrial activity
2. Europe
3. Venezuela
4. Because it is a white offshore and any bank could work it.

 

[james David]

clemens said:
Hong Kong can work very well for you. However, what I would suggest is to check out Marshall Islands and St. Kitts or the more known Belize!
Click to expand...

What would you advise?
Hk Vs Marshal vs UK

 

[Martin Everson]

james David said:
1. commercial and industrial activity
2. Europe
3. Venezuela
4. Because it is a white offshore and any bank could work it.
Click to expand...

You are going to face an uphill battle for banking with an offshore company even in the best of times. When you add Venezuela resident it complicates things further. I would suggest take whatever company/bank you can get as freedom of choice won't be on your side :-(

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

 

[james David]

Martin Everson said:
You are going to face an uphill battle for banking with an offshore company even in the best of times. When you add Venezuela resident it complicates things further. I would suggest take whatever company/bank you can get as freedom of choice won't be on your side :-(
Click to expand...

Based on which fact you are giving such situation? are Venezuelan people from different planet or what?
I think it is much easier than USA since all the banks in the world comply with FATCA

 

[Martin Everson]

Venezuelan people are no different to the average person from North Korea, Iran, UK or USA. Unfortunately North Korea and Iran people will always have problems opening accounts compared to UK and USA. This is because there are sanctions related to the governments of those countries, certain activities etc etc. Banks are not willing to work out the details and just blacklist the entire country. It is indiscriminate action of the bank and should not be taken personally.

btw. I doubt very much it is easier for a Venezuelan person to open an account then a US person :-(

Venezuela-related Sanctions
EU planning new sanctions against Venezuela

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

 

[Banker89]

St Kitts-Nevis is whitelisted in Venezuela. I suggest Nevis company with any offshore bank account. Don't give up... there are still plenty of options.

 

[clemens]

Banker89 said:
St Kitts-Nevis is whitelisted in Venezuela. I suggest Nevis company with any offshore bank account. Don't give up... there are still plenty of options.
Click to expand...

How should that change anything?? as soon as they see the guy is from Venezuela they will reject the account opening?? All banks now a days ask for UBO (Ultimate Beneficial Owner) passport and utility bill so even you hide behind nominees you will be forced to provide the DD documents and BANG your application get rejected!

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