Hong kong company formation ? Many benefits

[lavel]

How many have actually filed a HK company by now? am I the only one?

Yes you are the only one that has a HK company, that's why the competition there is low, no man on world has a company there beside you

 

[lavel]

Did you get a HK company? if yes you mind to share some information?

It's not cheap to maintain a company in HK, only if you have a real business that is doing real money it makes sense to form a company there.

 

[clemens]

It's not cheap to maintain a company in HK, only if you have a real business that is doing real money it makes sense to form a company there.

We dropped the HK corp finally since it's not worth the yearly maintainance fee and filing of tax reports. For some type of businesses it may be a good jurisdiction.

 

[dany]

Nice with an input for an Hong Kong company formation, I was considering it as an alternative to Anguila and Cook Islands.

 

[andreas]

Yeah, sure.
If it's such a dangerous place to keep money, why is HK one of the world's largest and most important financial centres?


I guess all those CFOs of global banking institutions are idiots

Why do you think it's dangerous?

 

[andreas]

We dropped the HK corp finally since it's not worth the yearly maintainance fee and filing of tax reports. For some type of businesses it may be a good jurisdiction.

What were the costs you paid in total for a 12 months period?

 

[clemens]

I paid aprox 3000 euro for a 1 year period. It's the same I pay for Cyprus and get better privacy there.

 

[cosmo]

I paid aprox 3000 euro for a 1 year period. It's the same I pay for Cyprus and get better privacy there.

including accounting and filing of taxes?

 

[busdriver]

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.

 

[negon]

including accounting and filing of taxes?

Would like to know if this includes the accounting and tax report?

 

[predator]

Hong Kong and PayPal account is that really possible for us?

 

[busdriver]

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.

 

[allan]

I never considered a HK Company before I read all this:

• Hong Kong is part of China
  
• Highest ranking in Economic Freedom of the World Report
  
• Heritage of British legal, administrative system and also Chinese culture
  
• Most effective and efficient banking system in the world
  
• One of the lowest and simplest tax system in the world
  
• More convenient in RMB Trading
  
• Tax exemption for non-HK source profit even for HK registered company
  
• No restriction of nationality in shareholder and director of HK company
  
• Allowing use of corporate shareholder and director in company structure
  
• Lower withholding tax in China for dividend
  
• Lower withholding tax in China for royalty fee

Then Again, how does it differ from Cyprus, Belize, Panama, Gibraltar, Swiss and many many other offshore jurisdiction? I find it risky to get a Hong Kong Company since a flight for me will take me more than 15 hours, that's not the same time I need to get to Cyprus, Gibraltar, Swiss or other great offshore jurisdictions? Also there are differences in the culture I think.

This can be compeeling to many and also it seems to be a good idea for people interesting doing business in China!

 

[MisterFree]

I paid aprox 3000 euro for a 1 year period. It's the same I pay for Cyprus and get better privacy there.

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.

 

[busdriver]

Consider: "Tax exemption for non-HK source profit even for HK registered company" - that is not free - the exempt can be difficult.
But yes, I think HK is not bad, if you are in Asia anyway.

 

[zohoman]

What would make it better compared to the most common offshore jurisdictions we have discussed here a thousand times?

 

[JohnLocke]

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.

 

[busdriver]

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.

 

[busdriver]

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).

 

[JohnLocke]

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.

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