HK offshore for collecting AdSense revenue (AdMob) and offering In app purchases - Right choice?

[diginomad]

I am a mobile app developer with a few apps deployed on PlayStore and App Store.
I get income using AdSense as well as offering in-app purchases (to get rid of the ads). I expect an annual income between 20k and 60k USD (hopefully more).

=> Do you think It's a good idea to register an HK entity? If so, what entity you suggest (I am the sole owner of my apps).

I choose HK cause they have an attractive tax regime (20.000HKD tax exemption + 8.25% until 200k USD). I don't even need to claim the offshore claim, as tax seems to be quite reasonable.

I am also aware it's nearly impossible to open a local nack account with popular bank institutes, so I know I will need to use one of the "NeoBanks" such as Airwallex or Transfwerise.

=> What of these neobanks do you suggest?

I had a problem with TW this year with another offshore in the US, as they didn't offer a debit card for a US business account.

=> What bank does offer for sure a debit or credit card? (also virtual is fine).

 

[uplana]

You require USD account right ?

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[diginomad]

Nope. Although I think all these digital banks will provide for sure a "USD" account, I think I simply need a "HKD" account to receive money.
Normally AdSense sends money in the currency where the business account is registered. Since my business will be in HK, I will register an HK based account.

 

[uplana]

Did you search the forum for Neobanks ? there have been mentioned a few already for HK companies.
enter in Google
Code:
site:offshorecorptalk.com neobank + neobiz

Alternative they are all nicely listed in the resource section of mentor group gold
https://www.offshorecorptalk.com/resources/categories/emi-electronic-money-institution.5/

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[diginomad]

I think I don't have permission to access that page 🙁

 

[JackAlabama]

diginomad said:
I am a mobile app developer with a few apps deployed on PlayStore and App Store.
I get income using AdSense as well as offering in-app purchases (to get rid of the ads). I expect an annual income between 20k and 60k USD (hopefully more).

=> Do you think It's a good idea to register an HK entity? If so, what entity you suggest (I am the sole owner of my apps).

I choose HK cause they have an attractive tax regime (20.000HKD tax exemption + 8.25% until 200k USD). I don't even need to claim the offshore claim, as tax seems to be quite reasonable.

I am also aware it's nearly impossible to open a local nack account with popular bank institutes, so I know I will need to use one of the "NeoBanks" such as Airwallex or Transfwerise.

=> What of these neobanks do you suggest?

I had a problem with TW this year with another offshore in the US, as they didn't offer a debit card for a US business account.

=> What bank does offer for sure a debit or credit card? (also virtual is fine).
Click to expand...

HK banks sometimes open for you if you have an introduction by a friend there or you have lots of cash to deposit or target that region. But its gonna be for sure a pain now as non-resident as you even cannot visit.