Hong Kong Company

[JonnyStekkino]

I wanted to open an hong kong company to run few online tech businesses (my residency is in Dubai) but I live pretty much around in south east asia 90% of the year.

wanted to ask to someone who had experience:

is not having a residency in HK but just the company a problem when it comes to bank/EMI opening? or even Stripe or any other payment processing?

 

[Sols]

It will be a problem for all of it.

You have residence in‍ Dubai. Why not set up a company, open bank account, and process with Stripe there?⁠

 

[JonnyStekkino]

It's the current setup, but license is becoming too expensive, accounting as⁠ well, and taxes are no good

 

[bibing]

@JonnyStekkino ciao italiano?

It's all a matter of money. If you have a considerate volume‌ there will be no problems opening biz accounts or EMIs.

At the moment Hong Kong‍ is money hungry (always have been, but particularly in this period).

I'm myself in the⁠ process of deciding if go for Hong Kong or Singapore.

 

[JonnyStekkino]

According to the statrys.com guys, no issue for opening EMI or Stripe without residing there..‌ I mean they offer company formation and their account together but not sure if they‍ say it just to sell it to me

 

[Sols]

No, they're‍ right but oversimplifying things a bit (which I also did in my earlier post, I⁠ see now). You can open an account with them or other fintech, and Stripe is⁤ very easy to get started with. Problems arise when the business grows and Stripe starts⁣ looking into the business in more detail. Stripe might want to see you have an⁢ office, warehouse, or similar in Hong Kong. At that point, you can address your problem︀ by hiring some people in Hong Kong or at the very least have a presence︁ nearby in Asia.

 

[bountymounty]

If the utilitybill and photos are the only thing that would be required, I would‌ spend a few bucks on mentor group and open pandoras box to figure out your‍ options. It's simple.

 

[daniels27]

It is Hong Kong. Address proofs always include back statement. There never is a situation‌ where another insists on bills. Quite often you are asked for your ID card. Visa‍ options are cheap though.

 

[JohnLocke]

Where did⁠ you go with your plans, did you get your HK setup ?

 

[daniels27]

I would recommend www.cheapincorp.com works super fast.