With the support of a dedicated and knowledgeable team, and all-round corporate services, this is the place where a new venture would thrive. At that time, I was a French tax resident, I was mainly doing online freelancing work, and I needed some kind of business entity to be able to work legally. In France, the easiest way to get started online is to declare yourself as self-employed.
It is very fast (less than a week to receive all the confirmation papers), it’s free, and there is no question asked. However, two years later, as I gradually moved out of freelancing to build information websites, I quickly understood that were three major flaws in this self-employed status that would limit my growth. That basically means that you are fine as long as you don’t have any expenses.
For some time, I only had to pay my website hosting fees, but after two years I wan. See full list on marcoschwartz. I made a lot of research online, in order to find what I could to open a business somewhere else than in my own country. Ideally, I needed to go somewhere that doesn’t require a visa or permanent residence to open a business, somewhere where it was cheap to open a new business, and also a place with low corporate taxes.
I also wanted a place with a stable government and with a good reputation in international business. And after a lot of researches, the name of Hong Kong came up a lot. For example, I read an excellent articleon the topic by Dan Andrews on the TropicalMBA blog.
I decided to go for it and open a company there.
When you have your appointment at the bank, it is time to think about getting on the ground. I requested an appointment quickly, so I had to take my plane tickets on quite short notice (two weeks before the appointment). However, if you are not in a hurry, the trip to Hong Kong can be much cheaper.
I went there with Aeroflot, but you will find many plane companies flying to Hong Kong depending of where you are flying from. As usual, I used AirBnB to book accommodation nearby the place of the meeting with the bank. Everything was set, and I took my plane to Hong Kong with a three hours stop in Moscow. I arrived there on the morning of the meeting (which was in the early afternoon). After I got back in Europe, I quickly got the SMS confirmation that my bank account was activated.
First comment: don’t do that. The first step after I came back was then to put some money on the Hong Kong bank account, first to pay the bank opening fee (about $50). For that task, I used TransferWiseso I don’t have huge bank transfer fees to pay.
The second step, and the longest, was to get all business activities over there, and to open a merchant account. In about a week, my money was over there. A merchant account is basically what will allow you to receive payments. I went for Paypal quite naturally, as they are in Hong Kong and they are well known.
In less than a day, my documents were verified and I had a business Paypal account up and running. Moving most of my online activities was easy: I am using oDesk to pay my contractors, and they accept Paypal.
Same for some SaaS applications I am using to run my business, like website hosting. To sell my digital products, I am using Gumroa which then directly tr. So should you open your own business in Hong Kong?
Well, as usual, it depends. You need to choose based on your current revenue first. I simply got an excel sheet and calculated my remaining income at the end of one year, based on my current yearly income, with two scenarios: self-employed in France, and with a company in Hong Kong. Because there are some additional expenses that comes with a Hong Kong company, like having a company acting as your company secretary (about $5a year), it only made sense for me after a given level of yearly income. You also have to decide based on your available options in your country in terms of business entities.
For examples, in some countries it is very easy and cheap to form a LLC (Limited Liability Company), whereas in France for example it was very costly and complicated. Finally, if you are doing any business with mainland China, it makes sense to form a Honk Kong business for that reason only. As I made more research when coming back from.
I had both but got rid of the PPQ because I shoot the VPbetter. The VPmag release is considerably wider than the one on the Gen PPQ. How about short review of a small caliber gem from Heckler and Koch, the HK 416. So, with that we present you our two minute take video at the bottom and a bit more here in the following review. F, Central Tower, Queen’s Roa Central, HK.
Construction did an awesome job on my new home! Bridges Executive Centre, Hong Kong. Although home construction is always a stressful process, the HK staff made the load much easier to bear, they were so supportive and kept ongoing open communication through the whole process.
In total you have to spend around 45. HKD the first year, when I opened my first company in Italy I spent 3. Much better for a startupper with a tight budget. After the revelations of Episode Louis de Richet is thrown ever deeper into the web of intrigue… Lines are being drawn and the power struggle is just beginning. As seals break and secrets are reveale the guests on Mortimer’s island must choose their side in a meeting that could decide the fate of all humanity. This week’s show we have Keith O’Brien, CEO of Market Hustl and Seller Photo.
In this episode we have him share some tactics and highlights from his speech and how sellers can boost their on Amazon, enjoy his tips about optimizing amazon ranking. It comes named Volkspistole which when translated means “People’s Pistol”. With such a name, many would be interested to know what more the handgun can offer.