Hong kong company formation ? Many benefits

[SirTycoon]

Hong kong is a very good place to start a business with. Especially with an Offshore business/company. Since its already populated in hongkong and renting a place for you to stay in will be a pain, its better to control your business outside hong kong.

 

[dotbloup]

I'd like to list the downsides of HK:

• Mandatory audit after one year should be made by an independent person. (you have to pay someone and it costs 700 to 1100 USD
• the Zero corporate tax is not automatic. Along with the financial report, someone has to compute a form for this.
• HK governments fees can't be paid with mastercard or credit card, someone has to be your intermediary or your need a HK bank
• You need a HK resident secretary.
• Financial statement should be provided in HK dollars.
• Local courts have a conservative lecture of British copycat law. When you read the news, you can see that several companies are seized. On the other hand, Belize law is way more tight than the Hong Kong law however, there are not many company closures in Belize in the last 10 years.

 

[SirTycoon]

I'd like to list the downsides of HK:

• Mandatory audit after one year should be made by an independent person. (you have to pay someone and it costs 700 to 1100 USD
• the Zero corporate tax is not automatic. Along with the financial report, someone has to compute a form for this.
• HK governments fees can't be paid with mastercard or credit card, someone has to be your intermediary or your need a HK bank
• You need a HK resident secretary.
• Financial statement should be provided in HK dollars.
• Local courts have a conservative lecture of British copycat law. When you read the news, you can see that several companies are seized. On the other hand, Belize law is way more tight than the Hong Kong law however, there are not many company closures in Belize in the last 10 years.

You seem right about this, since every country has its upsides and downsides and providing its downsides will be good for readers out here. I hope this goes in the first post so that it could be read easily by the viewers