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Offshore Company Formation and Management Services

Hong Kong Incorporation

JimBeam

Active Member
Register a company - no prob at all.
Opening a bank account - most agent lost their contacts to banks because most worked with HSBC but HSBC changed their ideas of which kind of customers they want.
Some agents might have contacts to other banks - but I am not sure.
Also keep in mind in order to maintain the company you also need to do auditing. That can be a lot of work or cost a lot of money.
I am using a service that takes care of the accounting and auditing at a flat fee (payable tax can be low ;) still in HK). PM if interested. They might also have a way to get you a bank account. But all this is not as cheap as it used to be in HK.
I have registered a company in HK using a site startupr.com couple of years ago.
The registration was done by them and there were no issues about that.

They (startupr) told me what docs to prepare for setting up the bank account and I did prepare everything they said I'll need for the interview at HSBC bank.
I flew the half the world and went to the meeting in the bank that they have arranged but it turned out that I'm missing some things because they didn't tell me that I need that (very unprofessional of them!!!).
The clerk at the bank was also surprised but have still accepted my application and told me to send the missing documents by email to him which I did as well as some other things bank also requested.
Three months later the bank declined to open a bank account giving no reason for their decision.

Year later, I haven't commenced any business (since I had no bank account) and I din't want to fly again to HK nor to renew the company so I have closed (dissolved) the company.
When I have read this thread Hong Kong is a trap, a fake good offshore jurisdiction I'm glad I didn't actually did any business there!

Right now I have a need to setup a new company and I'm considering Cyprus or UAE.
 

JimBeam

Active Member
I need company and bank account in same country (our main requirement) and paying as less taxes possible (2nd requirement). Having bank in same country as company can help with getting a Paypal account (if I understand that well).
 

JimBeam

Active Member
I have read a bit about offshore/freezone options but still don't know enough so I can tell you exactly. I'll run online business and have no plans to have physical presence in UAE nor to do business with local companies.
 

Admin

Forum Moderator
Staff member
Elite Member
Sorry guys, would you be kind and discuss other topics than HK in a new thread in the forum here Offshore Company formation

It's easier for new readers! thu&¤#
 

busdriver

Active Member
@utibi I would not say anyone would hold your company hostage. You can always close it. Or maybe even don't close it, just let it die.
 

lostguy

Active Member
Personal visit is only required for the bank account opening there not for the company formation and registration! You could also bank somewhere else where you don't need to visit the bank and still keep your Hong Kong corp.
Can Hong Kong company open a account in Cyprus you think?
 

busdriver

Active Member
I think that a HK company can open a bank account in Cyprus (but never tried) .
If you only need the HK company but no HK bank account, I'd say any local HK agent is OK. I used always used the cheapest I could find ;)
For company formation, secretary and registered office, they where OK .
Check for the government fee. It has been reduced from ~US$300 to almost nothing ... ;)
 

negon

hannibal the cannibal
BANNED MEMBER
So it says from April 2016 to April 2017 not too bad. Seems they need more business in Hong Kong :D Even the waived fee would not let me reconsider to register a company in HK!
 

busdriver

Active Member
Before it was just very much reduced, it being free now sounds even better. ... Hmm ... do US$200-300 really make such a difference? Especially if you can't get a HK bank account and for that matter also not a PayPal account. Da wiehert der Amtschimmel as they say in Germany ... The HK government should talk to their local banks if they want to promote business...
 
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