Offshore company in HK

[OlegK]

Hello All,

I am going to set up a company in HK using SFM Corporate Services.

Of course all formalities will be done with my physical presence. I don't want to receive it remotely.

On the one hand everything is clear as I have studied FAQ attentively. But I still don't have a clear picture of how to withdraw funds from offshore account?
Do I have to transfer funds from my corporate account to individual account?
And how to move decent funds from HK to Europe in order to purchase real estate and for investment purposes...?

Their website says the following:
"As with any other bank account, the funds of your offshore company bank account will be accessible through credit/debit cards, cheques, Internet banking or withdrawal at the bank."
But it sounds very easily considering the fact, that I heard different rumors when people have to obtain a back-to-back loan, which is quite ridiculous in case you have real and legal funds.

Kindly share your personal experience with HK offshores and SFM in general.

Many thanks in advance!

 

[stoddart]

SFM Corporate Services is a s**t, SFM promise a bank account but SFM get only a meeting.
You can open with another partner without problem.

For opening a bank account for company in HK in very difficult (forget HSBC and good bank). Only 1-2 bank accept but without ibanking for company account and without real credit card.

 

[OlegK]

SFM Corporate Services is a s**t, SFM promise a bank account but SFM get only a meeting.
You can open with another partner without problem.

For opening a bank account for company in HK in very difficult (forget HSBC and good bank). Only 1-2 bank accept but without ibanking for company account and without real credit card.

What company in HK do you suggest to use for setting up an offshore?

 

[stoddart]

For only company creation i had used AsiaBusiness - Your Corporate Services Provider .

 

[OlegK]

For only company creation i had used AsiaBusiness - Your Corporate Services Provider .

Cool, many thanks!

 

[uplana]

For only company creation i had used AsiaBusiness - Your Corporate Services Provider .

Are they reliable ?

 

[OlegK]

Can someone indicate at least one company in HK, that can set up offshore company and then momentarily open an account in HSBC without any problems?
Of course in case I have all necessary documentation*

 

[suzy]

open an account in HSBC without any problems?

You will need to travel there to open an account!

 

[OlegK]

You will need to travel there to open an account!

I am aware, as I stated everything will be done with my presense. But they are requesting now for some extra docs of current business activity.

 

[suzy]

But they are requesting now for some extra docs of current business activity.

What are these docs?

 

[OlegK]

What are these docs?

First of all, Bank Recomendation Letter and contracts or invoices, like a proof of business activity.

 

[suzy]

Can't you get it from your current bank and just generate the invoices required?

 

[OlegK]

Can't you get it from your current bank and just generate the invoices required?

Surely you need to get it from your current bank.
Regarding invoices/contracts you don't need to generate it in case you already have some viable business. If you mean how to bypass this requirement - I have no idea... But need to be careful