Inexperienced business owner setting up a company in Hong Kong and a bank account where?

[DagNabItAll]

Hi, I recently made a corporation in Hong Kong for my small eCommerce company, made the company before I found the HK thread on here. It seems like it will be extremely difficult to get a Hong Kong bank account, so where else should I get one? I'm unclear on this, so I can get a bank account anywhere that lets me, and if they ask me about paying tax I just point to my Hong Kong company and that will fly? The business is legitimate, we just want to minimize how much tax we have to pay. I'm a UK resident, is the UK an acceptable local?

 

[DagNabItAll]

Oh I forgot to mention that paypal is really important to our business, and they seem to prefer certain jurisidictions?

 

[JohnLocke]

For your HK company you can open a Cyprus bank account or you can go with some of the other offshore banks around i.e. Euro Pacific Bank, Swiss CIM Bank or Belize. As long as you have all incorporation documents and personal docs it's most often not a problem. It depends of course if it is accepted business.

You can also consider EMI account's which are way easier to open.

 

[JohnSeed]

If you travel to HK you may be able to open a bank account and PayPal account while you are there! easy and faster compared to go through all the hassle with PayPal and CYP account opening remote!

 

[negon]

What did you find out for your banking needs? Just curious to know?

 

[happyjohn]

Any bank that accept offshore companies for bank account opening can work for you. You may want to try Swiss CIM bank !

 

[DagNabItAll]

What did you find out for your banking needs? Just curious to know?

We have been working with an agent in Hong Kong to try and set up our bank account there. The problem is Paypal. You need your business in the same place as your bank account, and they don't really serve most "tax heavens". The agency is being really unresponsive currently, so I'm looking looking into RAK companies and banking, it's just so difficult to know if I will be able to get a paypal account. There is so little information floating around and they will tell you contradictory things depending on whom you speak to.

 

[JohnLocke]

It's difficult to find any provider that will be able to give a guarantee on a final PayPal account opening. They change the rules almost instantly. However, I believe there must be ways to setup something legit.

 

[suzy]

Any reliable service provider of HK Companies around?

 

[ForexSignals]

Any reliable service provider of HK Companies around?

Try Bridges HK I've read some good reviews about them.

 

[JohnLocke]

Try Bridges HK I've read some good reviews about them.

Do you have any personal experience with this provider or with any other provider?

 

[ForexSignals]

Do you have any personal experience with this provider or with any other provider?

I've heard of them on a FB group Incorporate in HK, only read good reviews about them. So, I've contacted them and was in touch with them for more than a month and also had several phone calls with them. I had to delay the incorporation of my business due to some other reasons but if I still find HK as a good alternative I'll definitely work with Bridges. That's my only experience with them so before approaching them make your own research because you never know for sure in this crazy world.

 

[negon]

Great update, will do some resaearch on them and also try to contact them!

 

[JohnLocke]

I've heard of them on a FB group Incorporate in HK, only read good reviews about them. So, I've contacted them and was in touch with them for more than a month and also had several phone calls with them. I had to delay the incorporation of my business due to some other reasons but if I still find HK as a good alternative I'll definitely work with Bridges. That's my only experience with them so before approaching them make your own research because you never know for sure in this crazy world.

thank you for your reply, useful please update here once you have setup something with them sucessfully.

 

[ForexSignals]

thank you for your reply, useful please update here once you have setup something with them sucessfully.

When I spoke with them on the phone they told me that they can arrange the meeting with the banks in their own office as well. They have their offices in downtown HK.

 

[NickNack]

if you have a HK company and are willing to travel, you can easily get a HK bank account, like HSBC or Bank of China. However, you may likely end up paying taxes. What you want to do is go to Singapore and open an account there.