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EmiratesSetup

Hong kong offshore company 2023

uranium

uranium

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Dec 5, 2022
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#1
I am thinking about incorporating IT company in Hong Kong tax free. I will not be accepting any Hong Kong based customer or business.
I know I have no chance to get a physical bank account in Hong Kong for my business without physical presence.
But I can get emi in my company name.
I can receive payments into emi and from there pay my self a salary to my personal bank account in dubai.
It also requires accounting and filling annual reports
I got quoted for around 5k full setup. What do guys think of this plan
I hope some people with experience could help.
 
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#2
You can find cheaper in Hong Kong. There are dozens if not hundreds of CPAs that can form companies in Hong Kong for you. However, 5,000 (USD/EUR) is a reasonable price, especially if it's a reputable service provider.

Running a Hong Kong company is easy. Have your CPA/accountant (that you form the company through) do all the paperwork for you.

When it comes to tax, it has been getting more difficult lately to get tax exemption for being a foreign company. Sometimes the IRD wants to see proof that the company is tax resident somewhere else, before issuing an exemption. But based on your description of your situation, that'll probably not be a concern, at least for the foreseeable future.
 
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#7
bibing said:
5K USD?

Just for first year registration? or What else is included?

This sound like the most expensive price I have ever heard for a HK setup
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5K USD? Daylight robbery!
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1100 USD plus you get a bank account
 
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#11
Many times in life, you get what you pay for. Depending on what's including (e.g. some agreed cost for accounting), 5,000 USD is a perfectly reasonable amount if it's from a reputable service provider.

But if cost is a major concern, there are many that are cheaper. And not everyone that charges premium prices provide premium service.
 
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#12
Sols said:
Many times in life, you get what you pay for. Depending on what's including (e.g. some agreed cost for accounting), 5,000 USD is a perfectly reasonable amount if it's from a reputable service provider.

But if cost is a major concern, there are many that are cheaper. And not everyone that charges premium prices provide premium service.
Click to expand...
5k without accounting..
 
#13
Still a reasonable sum if it's a good, reputable provider. If you feel that you get peace of mind going with that service provider, it's worth the 3-4,000 USD extra compared to the cheapest rate on the market is.

As I've said, you can find cheaper. Under 1,000 USD is doable in Hong Kong. But will they be around to help you if you need? Can they give you tax advise and guidance? Do you get an account manager who's always available for you? Do they know how to get the tax exemption status? And so on and so forth.

One of the best things about Hong Kong is the fierce competition and wide range of corporate service providers.
 
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