Hong kong company formation ? Many benefits
- Thread starter clemens
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Correct me if I am wrong, but ... a HK company can (easily) have a fully operational PayPal account (personal experience). PayPal is more restricted in let's say Belize, if at all possible (please !!! correctly if I am wrong).
I'd say HK is price-wise in the middle. Belize or Gibraltar would be cheaper, but UAE or Lebian would be more pricy.
I'd say HK is price-wise in the middle. Belize or Gibraltar would be cheaper, but UAE or Lebian would be more pricy.
Yes, I know many people/companies of expats and digital nomads that set up and use a PayPal account in HK without being resident there. You have to travel there (for the bank account) so it will cost a 4 digit amount (US$/Euro/£) gto set that up.
That's kind of cheap considering its 5000 for other countries. Did you feel that the security and privacy is higher in HongKong than in Cyprus? I'm actually near Hong Kong right now and wouldn't mind visiting it when I already have an offshore company there.
One reason (as already discussed here a few times) could be that you want to enter the Chines marked which would make it easier for all parties involved to trade there.
I'd say HK is better because it's more modern, trustworthy. HK is not (real) tax haven. Corporate tax is higher that in Ireland and that's in the EU ! The reputation of a HK LTD is for sure better than of a Belize IBC or such.
But I am afraid HK is losing it's usability actually, especially for smaller businesses. I hear more and more horror stories in terms of bank account opening. On the other hand the government just reduced the annual fee (BR) by ~90% to HK$ 250 (~US$33) per year to promote businesses.
But I am afraid HK is losing it's usability actually, especially for smaller businesses. I hear more and more horror stories in terms of bank account opening. On the other hand the government just reduced the annual fee (BR) by ~90% to HK$ 250 (~US$33) per year to promote businesses.
Read this to get an idea about the troubles of opening a bank account in HK: Attempts to Open a Corporate Bank Account in Banks of Hong Kong
I guess I was lucky with HSBC last year, but I am banking with them for some time in HK and also had a set-up agent making the appointment (at an extra fee).
I guess I was lucky with HSBC last year, but I am banking with them for some time in HK and also had a set-up agent making the appointment (at an extra fee).
Second that, however, in regards to trust I don't know if anyone from Europe would trust say an investment firm from HK unless they do their DD very well on it 🙂
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