Foreign-sourced Income Exemption certificate from Hong Kong IRD

[troubled soul]

Hong kong offer Tax free Foreign-sourced Income...
What is the process to get the certificate from IRD for this ?
How much time it takes ?
Does it hard to get one ?
or just simple process...

What is your experience with dealing with this issue ?
Is IRD is user friendly or typical to deal with ?

 

[justanotherguy]

bump

I was told that this certificate can be obtained prior to 1st tax filing, asking more now.

Would be great if HK companies can get it straight after incorporation - to know if HK is worth investing into.

 

[uranium]

bump

I was told that this certificate can be obtained prior to 1st tax filing, asking more now.

Would be great if HK companies can get it straight after incorporation - to know if HK is worth investing into.

To answer your question;
I spoke to a hong kong service provider and he told me how it works;
You have to run your business and within a year IDR will mail you about taxes. You will have to prove to them that your country of residence doesn't tax you. And it is not guaranteed you will have that tax free certificate. I also told them same thing, like why not incorporate today and apply for certificate tomorrow. But they said that is not how it works. Because it would be easy that way and everybody will be doing it.
So imagine you run a business and after a year they don't give you certificate and you have to pay taxes.
It is risky bet that I didnt want to get into.
Either I go for 100% tax free jurisdiction from beginning or I don't go for it.

 

[justanotherguy]

You will have to prove to them that your country of residence doesn't tax you

As in not to fall under some CFC rules? Not to exploit the 0% regime basically?

Hmm, would Estonia work as long as profit is not distributed from HK? That would mean technically that country of residence doesn't tax.