[OSL]

I just got back from a business trip and I've registered a company in Hong Kong.

You can ask any general questions here you have about my experience and the process.

For highly in-depth stuff, PM me.

[Cincinnatus]

Give us the down-low on registering a company in Hong Kong, why you did it and how.

Or, as many a forum member might say: "Bust out a data sheet."

[thegmanifesto]

(02-18-2012 03:43 AM)MSW2007 Wrote:  

Give us the down-low on registering a company in Hong Kong, why you did it and how.

Or, as many a forum member might say: "Bust out a data sheet."

Ha.

Yeah, I was going to say the same thing.

Break it down.

Why did you choose Hong Kong?

[nmmoooreland20]

I’ve been considering a similar move myself, so this thread should interesting.

My motive for establishing a HK business is more of an end-game play in that that is where I want to move to someday (perhaps I could sponsor myself with a work visa). I do think my product idea would kill it more in HK/China/Japan/Korea than the States, and manufacturing certainly would be cheaper over in PRC, but right now I’m in the old USA, so it might be easier just to get things going over here at first.

Think there are drawbacks to just starting off with the HK-based business while my early efforts are based state-side?

[libertad1312]

Can anybody share personal information?
It seems super cheap and easy to set up, but from what I have heard yearly costs might triple the initial costs. Still worth it, but I would love to hear some first hand experiences.

[Ray Carlton]

This is a topic I am also interested in. I did a google search a while ago and found the the following page: http://www.myeggnoodles.com/setting-up-a...mpany.html

However, the site lacks specific details, costs and so on. So personal experience would be appreciated.

Just found this information as well: http://boldanddetermined.com/2012/06/21/...ss-guide/, It gives a first overview of the associated costs. According to Victor, the biggest down side of a HK cooperation is the fact that you need an auditor for the yearly audit which could be pricy.

So I am curious, what is the best way to avoid taxes for an online business and to stay anonymous?

[OSL]

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I put this thread up a long time ago and don't have time to answer these individual questions anymore.

As far as incorporation services go, both of these will be solid:

http://www.asiabs.com

http://www.jumpstartoffices.com

You can listen to this podcast for some more info about the topic of HK corporations:

http://www.tropicalmba.com/internet-base...hong-kong/

I'm sorry I can't be of more help right now.

HK is a good location and yes there are some downsides like the annual audit which is a lot of paperwork and time. All things considered it's still a good spot.

Mike O'Brien I'm not an expert on the topic but a lot of guys do BVI companies for that purpose, so you could consider that. Don't take my word for it, that's just anecdotal advice. I only have experience with HK/SG corporations.

This is the last time I'll be commenting on this thread, I've been spending too much time responding to PMs about private company setups in Asia.

Sorry to be brusque about this, I've been really busy lately.


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[atlant]

I'm incorporated in HK (via Jumpstart) as well. Note that just having a company in HK will not simply allow you to "avoid taxes" and "stay anonymous" (and incorporating in HK is anything but the latter - a BVI company with a HK bank account is a setup that allows you to skip the auditing, but from what I hear very few banks in HK are willing to open accounts anymore for these businesses, and it looks a bit shady to other serious companies). You're still liable for personal income tax wherever you live (whether you or the country you reside in cares about that is another thing). But you can then pay yourself a lower salary from your company income and your personal tax is lower as well. The issue is when you want to get out a bigger amount of money from the company.

Yearly cost for me is about 2k USD with renewal of all paperwork, accounting and auditing. The costs for the latter depends on the amount of invoicing you do and the general complexity of your business.