Hong kong offshore company 2023
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If you run the company from Dubai, it will be subject to UAE corporate tax (9%).
In theory at least - of course, chances are high they won't catch you for the foreseeable future.
In theory at least - of course, chances are high they won't catch you for the foreseeable future.
If you say so. Then the Federal Tax Authority will be happy to learn something new from you.
I didn't say there is personal income tax. Your Hong Kong company will be taxed like a UAE mainland company due to being managed and controlled from the UAE. It will have to pay 9% corporate tax.
You can only avoid this if you can explain that you are only a passive investor and that you have a director outside the UAE who runs the company.
In theory. In practice you will likely be able to fly under the radar.
I didn't say there is personal income tax. Your Hong Kong company will be taxed like a UAE mainland company due to being managed and controlled from the UAE. It will have to pay 9% corporate tax.
You can only avoid this if you can explain that you are only a passive investor and that you have a director outside the UAE who runs the company.
In theory. In practice you will likely be able to fly under the radar.
Current UAE law says that if a foreign juridical person (ie company) has permanent establishment in the UAE , it is subject to UAE corp tax.
UAE authorities probably will not know, at first at least, but the mechanism is that you have to tell Hong Kong Authorities about your business. And then there are a lot of multi and bilateral agreements and standards for sharing such info, so︀ UAE authorities might get it from Hong Kong.
UAE authorities probably will not know, at first at least, but the mechanism is that you have to tell Hong Kong Authorities about your business. And then there are a lot of multi and bilateral agreements and standards for sharing such info, so︀ UAE authorities might get it from Hong Kong.
I had issues with some bank accepting money from companies to my personal bank account.
They would send me an email on Dec 30 to send them details about these transactions within 48 hours or they will close my account.
Send it and never got any reply (in Dubai terms it usually means it's all fine).
So, always have at least two bank accounts in Dubai just in case. (If you have Emirates ID you can easily open at︀ any bank).
Why not then run a company in UAE.
What's the advantage︄ of HK if you still have to pay 9% in UAE?
Unexpected things can happen︅ anywhere. Remember the riots in HK just a few years ago. It can happen again.︆
They would send me an email on Dec 30 to send them details about these transactions within 48 hours or they will close my account.
Send it and never got any reply (in Dubai terms it usually means it's all fine).
So, always have at least two bank accounts in Dubai just in case. (If you have Emirates ID you can easily open at︀ any bank).
Why not then run a company in UAE.
What's the advantage︄ of HK if you still have to pay 9% in UAE?
Unexpected things can happen︅ anywhere. Remember the riots in HK just a few years ago. It can happen again.︆
https://taxsummaries.pwc.com/hong-k...Foreign income,income is generally not taxed.
"Foreign income
Hong Kong resident corporations are not taxed on their worldwide income. Foreign-sourced income is generally not taxed."
Taxation: Only income “derived from or arising in” Hong Kong is subject to a corporate tax rate of 16.5%. Overseas income or foreign-sourced income is exempt from Hong Kong tax.
"Foreign income
Hong Kong resident corporations are not taxed on their worldwide income. Foreign-sourced income is generally not taxed."
Taxation: Only income “derived from or arising in” Hong Kong is subject to a corporate tax rate of 16.5%. Overseas income or foreign-sourced income is exempt from Hong Kong tax.
The problem is what you think foreign sourced income is that's different from what Hong Kong's thinks foreign sourced income is.
Your definition is "as long as all my clients are not from HK i don't pay taxes"
HK's definition is "as long as income is not derived from work in HK you don't pay taxes"
If that wasn't enough HK is thightening FSI rules
https://www.ird.gov.hk/eng/tax/bus_fsie.htm
Your definition is "as long as all my clients are not from HK i don't pay taxes"
HK's definition is "as long as income is not derived from work in HK you don't pay taxes"
If that wasn't enough HK is thightening FSI rules
https://www.ird.gov.hk/eng/tax/bus_fsie.htm
Very interesting point of view
My plan is that I run a hong kong based company offshore, my business is online based. No work is done in hong kong. I'll︀ not live there. On my website I don't plan to accept customer from hong kong︁
What do you think
My plan is that I run a hong kong based company offshore, my business is online based. No work is done in hong kong. I'll︀ not live there. On my website I don't plan to accept customer from hong kong︁
What do you think
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