Hong kong company + crypto

[11111]

Hey,

I am considering forming HK company for the benefits of the 0% for companies operating their business activities outside Hong Kong.
And also that it still considered somewhat of a "normal" country in the eyes of banks around the world compared to all the Islands and tax havens.

Main activity is affiliate marketing (promoting products and services online) and some crypto trading.

At first I was thinking about Gibraltar but I have no interest in getting license to trade some crypto.

The company won't need a bank account as all profits are earned in crypto and dividends will be sent to myself in crypto as well.

Are there any disadvantages of using HK company for these purposes?

Thx

 

[kilor]

Rather Hong Kong I would use a UAE company or Cyprus company for this business?!‌

 

[CyprusLaw]

Cyprus would also be a good option. Happy to PM you︂ to discuss this

 

[chaltron]

HK is a good option for the reputation, however note that they require Audited Financial‌ Statements each year which could add up to the costs depending on how many transactions‍ do you have.

UAE could also be an option, if you don't require banking and⁠ only handle crypto even a RAK offshore company could work for you.

 

[kilor]

why if not needed banking, we can get a bank account there???

Whats the costs in average to get audited accounting done there?⁣

 

[chaltron]

With an‌ UAE offshore company chances to get banked are slim to none at an UAE bank.‍ For international banking is even more complicated since there is not apostille, but the old⁠ legalization by consulates.

You need a freezone company or an onshore Dubai company with resident⁤ card there to get banking done there.

For HK better check with Kaizen CPA. I⁣ had good experiences with them in the past. Depending on the volume the audit fees⁢ should be around 1000 USD.

 

[uplana]

@Fred can do that if someone‍ need help.

That is actually a good price, unless it is only⁣ for 10 invoices

 

[Fred]

+ local Office and Personal Address.

Get yourself a professional local Corporate Service Provider and things⁤ work out.

 

[uplana]

As far as I read it you are able to help with the complete setup‌ @Fred ?

 

[Fred]

That's right