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Comment by woutr_be | Hacker News Reader

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woutr_be·

Hong Kong is another option, incorporation fees are quite low + ongoing cost is relatively low.

Corporate fees capped at 16.5%, with the first 2 million HKD only 8.25%.

Can all be done online and remotely as well.

Additional benefit that you can apply for an APEC visa to make traveling around easier.

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As far as I understand, Hong Kong has this Offshore Tax Exemption, where your earnings will be tax-exempt as long as you can demonstrate that your earnings are from foreign sources (i.e., offshore sources outside of Hong Kong).

I believe that in the example you’ve given, you also need to demonstrate that the person who provided the services was also outside of Hong Kong.

I haven’t really looked into this offshore exemption, since I’m living here as well.

Last time I set up there it was a headache to get a bank account though; that might have changed (but I can hardly believe it got easier).

I think you need to have some business in Hong Kong to open a bank account there. But that's ok, you can open a bank account in a different country.

Definitely was easy for me, I first used Neat (now Rapyd), and currently using AirWallex. Both applications took about 2 days or so.

I know people suffer a bit from Rapyd after the acquisition

I only used my account for about 2 months, because it caused a lot of confusion. Your account name was prefixed with “NEAT”, so few of my clients just ignored that and money never arrived. Switched to AirWallex and never looked back.

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