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Introduce myself and setting up accounts for HongKong company

luyaoly

luyaoly

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Mar 3, 2021
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#1
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Hello there, I'm Steven. I'm a former hedge fund employee and trade stocks mostly. I move tax residency from time to time, and it turns out to be difficult to change "tax residency" in personal brokerage account.

Currently I'm looking to set up a company and move portfolio to this company's brokerage account instead.
- Somebody already suggested me maybe try Hong Kong. If setup a Hongkong company, any 'success stories' in getting an Interactive Brokers account for the company?

- I may still need company bank account. Do I have to visit a hongkong bank? Or I can use other, like a US bank to open business account for HongKong company? (I guess I'm just looking for an easier approach to setup legit bank account. The bank doesn't have to be a hongkong bank.)

Hope that's a comprehensive introduction to my situation and let me know any advices!
 
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#2
luyaoly said:
Hello there, I'm Steven. I'm a former hedge fund employee and trade stocks mostly. I move tax residency from time to time, and it turns out to be difficult to change "tax residency" in personal brokerage account.

Currently I'm looking to set up a company and move portfolio to this company's brokerage account instead.
- Somebody already suggested me maybe try Hong Kong. If setup a Hongkong company, any 'success stories' in getting an Interactive Brokers account for the company?

- I may still need company bank account. Do I have to visit a hongkong bank? Or I can use other, like a US bank to open business account for HongKong company? (I guess I'm just looking for an easier approach to setup legit bank account. The bank doesn't have to be a hongkong bank.)

Hope that's a comprehensive introduction to my situation and let me know any advices!
Click to expand...
i have HK company for my offshore activities, and yes you need to fly there to sign the papers in HK branc to proceed your stuff..as now locked with corona restrictions, not that easy. what is the solution you are looking for? maybe i can help you with acc in EU
 
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#3
xyz999 said:
i have HK company for my offshore activities, and yes you need to fly there to sign the papers in HK branc to proceed your stuff..as now locked with corona restrictions, not that easy. what is the solution you are looking for? maybe i can help you with acc in EU
Click to expand...
I guess the solution I’m looking for is a remote way to open regular Business bank account for the new hongkong company. It can be an EU bank. But I cannot travel anywhere since I’m currently stuck in US.
 
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#6
luyaoly said:
Hello there, I'm Steven. I'm a former hedge fund employee and trade stocks mostly. I move tax residency from time to time, and it turns out to be difficult to change "tax residency" in personal brokerage account.

Currently I'm looking to set up a company and move portfolio to this company's brokerage account instead.
- Somebody already suggested me maybe try Hong Kong. If setup a Hongkong company, any 'success stories' in getting an Interactive Brokers account for the company?

- I may still need company bank account. Do I have to visit a hongkong bank? Or I can use other, like a US bank to open business account for HongKong company? (I guess I'm just looking for an easier approach to setup legit bank account. The bank doesn't have to be a hongkong bank.)

Hope that's a comprehensive introduction to my situation and let me know any advices!
Click to expand...
With Neat you can open an online account, but for big money it's not the best. I would get a brick and mortar bank...

For investing only, banks are more relaxed with offshore setups, I'm trading options and futures with a Seychelles IBC and bank accounts in Mauritius & Cayman lol....

But before opening a company elsewhere I would ask first brokers and banks about the setups you have in mind,so you can actually choose where to incorporate the company depending of brokers & banks willing to accept you.
 
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#9
To start with welcome to the forum. You should not post such threads in the welcome forums but in the EMI and Banking forums. I have moved the thread!
 
#15
xyz999 said:
i have HK company for my offshore activities, and yes you need to fly there to sign the papers in HK branc to proceed your stuff..as now locked with corona restrictions, not that easy. what is the solution you are looking for? maybe i can help you with acc in EU
Click to expand...
Hi,
Just want to know How much did it cost to set up a HK company?
I knew that HK company (sole trader not LTD) is much more cheaper. And it also can claim the offshore exemption.
 
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#16
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#17
May I ask if some of you guys are still around if you got any account setup in Hong Kong for your company? If so, is it a foreign owned company or you have local people to manage the company and it's day to day business?

Can you setup a brokerage account for your HK company ?
 
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