Can we take it again, Hong Kong company or Cyprus company?

[jorge]

I need to know this for future plans. How do you think about the formation of a offshore company in Hong Kong vs Cyprus?


The pros and cons so far are:

• Hong Kong and Cyprus both require accounting and filing of tax reports.
  
• HK and Cyprus corps both pay 0% Tax if doing business abroad and registered non resident
  
• Cyprus allows Nominees and hiding of ownership / shareholders
  
• Hong Kong is good doing business in Asia
  
• Cyprus is Europe and opens the borders for Europe
  
• Hong Kong is opening the borders for International business outside of Europe

Both HK and Cyprus company can open International offshore bank accounts in various of the major banks like Anguilla, Cyprus, Hong Kong, Seychelles, Isle of Man, Belize and so on.


So what do you think is best for an Internet business that is well established?

 

[JohnLocke]

What I would consider is if you are doing business mainly in Europe or Asian countries. If the latter a Hong Kong company is the right for you, if you are doing mainly business in Europe or need European service providers for instant payment processor, banking, trade partners then Cyprus is No.1.

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[thorsten]

I would always take Cyprus over Hong Kong for Company formation at this time. It's still in Europe the majority of my business activity are.

 

[JohnLocke]

I'm not sure if you just can say it this way. Cyprus may be a good jurisdiction for doing business and strtegical corporate plans. However, Hong Kong may be good for strategy planning in Asia and the Asian markets. You can't say one fits all.

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[jorge]

For now we put the HK company formation on hold and proceeding with another offshore jurisdiction for a new business.