OSPs phasing out nominee directors in HK

[coromandel]

Worth noting but most OSPs I've spoken to are phasing out nominee service in HK, if not stopped already.


To quote one,


"To enhance transparency and accountability of company director, HK Companies Ordinance is amended to restrict Corporate Directorship (this applies to nominee director) in HK private companies. We foresee that nominee services for company director will be phased out with such tightening control in company directorship."


Has an impact on those who have Seychelles/HK setups.

 

[electric]

Yes, I was actually on the brink of creating a Seychelles/HK company structure and the service provider I was going to use informed me that they will no longer be able to provide the nominee service I was going to purchase for the HK company.


While they do provide personal (not corporate) nominee services... they are choosing not to do so for HK companies because the whole point of HK changing their rules is to open things up and create more transparency. The service provider felt that it would put them (and their clients) into a bad position.

 

[coromandel]

Same here, ended up going with just a HK company on public record (anonymity is no issue for me - as long as we trade under the CFC exceptions we can take advantage of 0% Ctax in HK).


If I get involved in Seychelles parent companies I'd need to do it with no public record as it just looks suspect to tax authorities.


(other thread says Malta & Gibralta as two remaining juridictions where corporate directors okay)

 

[electric]

Thanks coromandel.