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Offshore

Discussion in 'Business & Tax Advice' started by AC924, Feb 25, 2013.

  1. AC924

    AC924 Newbie

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    I want to ask for some informations concerning offshore companies. I am sure there are plenty which have one and maybe i get some good help.

    i am planning a seychelles company and a bank account in hongkong or singapore.

    the opening of the seychelles is no problem.

    the hard part is to get a bank account ..... so my questions

    1- anybody who is working there with a bank there in a construction like this ? Which Banks will open offshore accounts ?

    2 - how you get there a paypal and adsenses acount. i like to have that on the company name and in singapore or hongkong. anybody has this with a offshore company there ?

    thanks for info.
     
  2. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Thread moved to the proper place :)

    It 's very very hard to get an account in those countries without flying there. If you do a personal visit and have all the papers your offshore advisor tells you to, you won't have a problem. If you are trying to open it by yourself, start calling the banks to see what papers they need.

    Paypal requires that the company and the banking account are in the same country, so you 're out of luck with this setup.
     
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  3. unknownn

    unknownn BANNED BANNED

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    why are you not opening a company directly in HK ?
     
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  4. AC924

    AC924 Newbie

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    the main reason is privacy and very low running costs in the seychelles.

    i am considering a HK company as well but there you have yearly papers to do which is a huge disadvantage.
    i also have not really found out if the HK limited is 100% tax free for this income. Some advisers said if the money flows to HK it can be a problem.
    Can anybody confirm that directing the money via hong kong is tax free for his internet income?
     
  5. AC924

    AC924 Newbie

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    i can fly there. that is no problem. Both Singapore and Hongkong.
    It there any concrete Name of bank which will do offshore accounts. I tried severa, chineese banks in Hongkong and was not luck yet.

    Do you know if it is for Palpal enough to have a virtual office (address) and Bank account in one country? (even if the company is registerd somewhere else)

    thanks
     
  6. infoasian

    infoasian Supreme Member

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    Seychelles are considered a hding place for criminals and ibc from Seychelles are regarded very low. To actually run a business, it's best to use HK.

    You can open accounts for an ibc in a third country, but in most places they will ask for a minimum deposit between 50k an 200k US$. If you open a HK company you may open a Hang Seng bank account with just 100$ minimum.
     
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    Last edited: Feb 26, 2013
  7. unknownn

    unknownn BANNED BANNED

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    Running cost in HK isnt more expensiv than in seychelles.It will be arround $1000 per year.

    Seychelles isnt as safe as it was some years ago
     
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  8. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    As far as I know, it 's not enough but I 'm not an expert. You should consider getting some consultation from some advisor that specializes in HK. A small consultation fee now can save you lots of money later. Sometimes they also deduct the fee from the price of their services if you decide to go with them after all.
     
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  9. AC924

    AC924 Newbie

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    i dont mind spending some money.
    i contated 2 consultants both not cheap and both did not tell me 100% that income which is transfered to hong kong is tax free. all i did read it should be the case but when you ask for guarantee they did back back.

    probable the wrong companys. but i am still searching
     
  10. AC924

    AC924 Newbie

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    if anybody can give some advice and as a good solution esteblished recently i would be thankful to point me in a good direction
     
  11. Gorush

    Gorush Power Member

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    Foreign sourced income is taxfree in HK - BUT you still have to pay taxes in your main country..
     
  12. msidennis

    msidennis Newbie

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    Try turnerlittle.com for help. They offer great services for over 40 years :)
     
  13. Castillo1024

    Castillo1024 Newbie

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    Any specific reason why you are choosing to open the ban account in HK? Have you looked at other safe Offshore Jurisdictions such as Belize? I have over 15 years experience in the Offshore Sector and can safely atest to Belize's stability as an Offshore Jurisdiction. The Laws of Belize ensure the confidentiality of individual, businesses and the sanctity of private commercial transactions. No information pertaining to the identity of directors or shareholders need be filed on public record.

    Also, Bank Accounts can be opened without being physically present. If you are interested, i can refer and Offshore Bank and Service Provider that can help you with a Belize IBC formation.