Better company registration provider in Hong Kong

[akkumon]

Hey guys,
Am planning to open an offshore business there in Hong Kong. I did some research and chit chats with some of the service providers, like Home , Hong Kong Statutory Auditing Arrangement | Bridges HK , etc.

Which service provider would you suggest as the best? I found that the virtual office addresses is a bit costlier in Bridges, and overall a bit pricier. But unsure which one would be the best.

Also, one more thing, the Bridges are providing "Company Secretarial Services" as complementary for the first year. Does that include auditing and stuff? The representative said "yes"

But in JumpStartOffices, they mentioned that the minimum "accounting and auditing" charge is around 8000 HKD per year.

Isn't it mandatory to do the auditing every year?

So what you guys think? Btw, am from India.

 

[negon]

It is pretty expensive to maintain a HK company, unless you make a lot of money it's not worth it I think.

 

[akkumon]

It is pretty expensive to maintain a HK company, unless you make a lot of money it's not worth it I think.

Thank you for responding.

Mine is actually an affiliate marketing type business. So the turnover would be higher. Maybe like 7000 USD per year. A major portion of that will be paid to our AFFILIATES. So our profit margin would be smaller though.

I think the main expensive part is the auditing charge. Isn't it?

 

[negon]

So the turnover would be higher. Maybe like 7000 USD per year.

Sorry I got confused... is this the expected annual turnover? Means the total turnover per year?

 

[akkumon]

Sorry I got confused... is this the expected annual turnover? Means the total turnover per year?

Sorry for the typo.
It's per month 7000 USD. And the turnover would be around 85,000 USD.

Thank you

 

[negon]

ahh okay, now I understand

I would ask them to send you an estimated proposal for accounting per months, submitting of VAT and for the Financial report to be done and submitted.

 

[akkumon]

ahh okay, now I understand

I would ask them to send you an estimated proposal for accounting per months, submitting of VAT and for the Financial report to be done and submitted.

I think in Hong Kong, there's no VAT. There's only Profit Tax isn't it?

That too can be claimed for a waiver since am doing business with people outside Hong Kong.

The problem is, there are several service providers. But unsure to choose the best one.

 

[negon]

It's difficult to choose the best one. What I would do is to get a quote from 5 of the companies you think are good and compare it. Also check how fast theu response and what they actually are telling you.

After that I would do a Google search on each of them to see if you can find any background information, or bad og good reviews.

 

[akkumon]

It's difficult to choose the best one. What I would do is to get a quote from 5 of the companies you think are good and compare it. Also check how fast theu response and what they actually are telling you.

After that I would do a Google search on each of them to see if you can find any background information, or bad og good reviews.

Thanks for suggestion. Yeah am doing that now.

Another problem in Hong Kong is the bank opening procedure. Which is a tedious tasks and there's not much probability of getting it approved by the banks. And above all, I have to be there in person to appear for an interview with the bank.

Heard about some other offshore business areas like Balize, Mauritius, etc. which relatively easier and less burden. But the only thing that doubts is, whether the PayPal would allow such countries or there would be any restrictions in the payments send/received. I would be using mainly PayPal and WireTransfer for the payments.

 

[sialala]

Thanks for suggestion. Yeah am doing that now.

Another problem in Hong Kong is the bank opening procedure. Which is a tedious tasks and there's not much probability of getting it approved by the banks. And above all, I have to be there in person to appear for an interview with the bank.

Heard about some other offshore business areas like Balize, Mauritius, etc. which relatively easier and less burden. But the only thing that doubts is, whether the PayPal would allow such countries or there would be any restrictions in the payments send/received. I would be using mainly PayPal and WireTransfer for the payments.

So for paypal the best is HK or UAE. So good choice.

 

[akkumon]

So for paypal the best is HK or UAE. So good choice.

Thank you.

UAE seems to be way more costlier I think.

 

[sialala]

Yes, indeed. But more exclusive.

 

[bonox]

Thank you.

UAE seems to be way more costlier I think.

it is, but better

Yes, indeed. But more exclusive.

totally agree.

OP did you figured out what route to go back in time? if you are still around