Hello everyone,
I am someone who buys products from different countries and sells them at a profit to different customers in different countries. I deal with products like seafood to building materials. Most of the items I sell under my own brand(not in Amazon, I deal with Wholesale businesses). Very traditional business in that sense, nothing fancy. Coming from a non-business background and being the total fool that I am, my go-to way was starting offices in the countries I wanted to do business.
Very recently I understood that there were easier ways, and I found this forum (hope I don't have to waste too much time and money again, learning things). According to my present knowledge, I can open a company in some jurisdiction like Hong Kong, Singapore, or one in Shanghai FTZ(not sure), RAK(read somewhere) and do transit trade with re-invoicing. Meaning, I can buy from China in my Hong Kong company's name and issue an invoice in my Hong Kong Company's name(by reinvoicing) and sell to someone in Egypt without the goods ever touching Hong Kong. The Egyptian Company pays my Hong Kong Company and my company pays the Chinese Supplier. The profits made in the trade are considered in Hong Kong Jurisdiction, which I hope is a better place to keep profits. I pay almost 25-30% tax on my profits as of now, and I am willing to relocate.
So my questions are :
1. Am I right? This is all information from the internet.
2. If I am right, which are the countries that allow this kind of business?
3. Can my business be located in Hong Kong and Bank account be in another country? Is that possible with a Hong Kong Company? Which place would you guys recommend in this scenario?
Thank you.
I am someone who buys products from different countries and sells them at a profit to different customers in different countries. I deal with products like seafood to building materials. Most of the items I sell under my own brand(not in Amazon, I deal with Wholesale businesses). Very traditional business in that sense, nothing fancy. Coming from a non-business background and being the total fool that I am, my go-to way was starting offices in the countries I wanted to do business.
Very recently I understood that there were easier ways, and I found this forum (hope I don't have to waste too much time and money again, learning things). According to my present knowledge, I can open a company in some jurisdiction like Hong Kong, Singapore, or one in Shanghai FTZ(not sure), RAK(read somewhere) and do transit trade with re-invoicing. Meaning, I can buy from China in my Hong Kong company's name and issue an invoice in my Hong Kong Company's name(by reinvoicing) and sell to someone in Egypt without the goods ever touching Hong Kong. The Egyptian Company pays my Hong Kong Company and my company pays the Chinese Supplier. The profits made in the trade are considered in Hong Kong Jurisdiction, which I hope is a better place to keep profits. I pay almost 25-30% tax on my profits as of now, and I am willing to relocate.
So my questions are :
1. Am I right? This is all information from the internet.
2. If I am right, which are the countries that allow this kind of business?
3. Can my business be located in Hong Kong and Bank account be in another country? Is that possible with a Hong Kong Company? Which place would you guys recommend in this scenario?
Thank you.
