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I have not found it difficult to get a corporate bank account and merchant account in the past in Hong Kong with HSBC. Yes you have to go there in person but I

by eis 11y ago

I have not found it difficult to get a corporate bank account and merchant account in the past in Hong Kong with HSBC. Yes you have to go there in person but I don't see this as a big deal. We had CC processing and your agents should have contacts to get you set up. Things might have changed in recent years. And no I am not wrong. If you don't have a work permit which you get by working for a Thai company, you are breaking the law as you are not allowed to work without a permit. Full stop. I have not said that working out of a coffeeshop is illegal. Long term visa again only by working for a local company. And if you go for the fake 4 Thais emploees route, sure that can work but you can get into trouble anyways because you are effectively working around the law. Setting up a Bord of Investors company is not a trivial thing. It can take up to half a year, you'll have to pass the interview at the HQ in BKK and show some real company prospects. This is not something for someone who does web design or coding for some foreign company out of his condo in Chiang Mai. It's for people who want to build a real physical business in Thailand. Much easier to incorporate somewhere else.

pentae 11y ago
Yeah, things have changed in recent years in HK. HSBC HK has a horrible reputation now and they are very resistant to do corporate account openings and prefer your company is resident or doing business in HK. Regarding long stay visas in Thailand - as I said, getting a long term visa or work permit is very simple you can do it through a company who will sponsor you for a modest fee. If you are interested I can provide you with links. My BOI did take some time, you are right, but the process was relatively simple as I used an agency - but totally worth it. Yes - much easier to incorporate somewhere else. Your experience with HK/HSBC opening a merchant account is simply not a reality anymore for the majority of people, particularly without processing history, nor is it in other countries using HK. Anyway, this product offering from Stripe is a genuine game changer for people who want to operate from the US, want a business in a box and want to set it up remotely. I know many, many people who will jump on it.
- eis 11y ago
  >> Yeah, things have changed in recent years in HK. HSBC HK has a horrible reputation now and they are very resistant to do corporate account openings and prefer your company is resident or doing business in HK. Good to know. Though it's kinda sad as HK really used to be a great place for business. I've seen similar changes in >> Regarding long stay visas in Thailand - as I said, getting a long term visa or work permit is very simple you can do it through a company who will sponsor you for a modest fee. If you are interested I can provide you with links. Yea but many such offerings are just circumventing the law and here in the south at least a couple of these companies got into trouble. And by trouble I mean the usual extortion by immigration/police. Especially companies with nominees that hold the other 51% for you are getting more and more attention. >> My BOI did take some time, you are right, but the process was relatively simple as I used an agency - but totally worth it. Hehe the typical Thai way. Find someone (agency) who knows someone that makes the decision. Pay the agent a "service fee" from which a nice chunk goes to the official to incentivize a smooth process :) >> Yes - much easier to incorporate somewhere else. Your experience with HK/HSBC opening a merchant account is simply not a reality anymore for the majority of people, particularly without processing history, nor is it in other countries using HK. Again said to hear. >> Anyway, this product offering from Stripe is a genuine game changer for people who want to operate from the US, want a business in a box and want to set it up remotely. I know many, many people who will jump on it. Undoubtedly the offering from Stripe will be helpful for many people. Somehow I get the feeling that the US pushed other countries hard to make incorporation and especially bank account opening much harder in the guise of fighting terrorism and crime while itself trying to make it simpler. An interesting economic strategy.
- angrow 11y ago
  > If you are interested I can provide you with links. Yes, please. Also may I ask, what's your view of Singapore as a jurisdiction for digital nomad incorporation? Braintree already supports it for payments, and Stripe is in "private beta"...

by eis 11y ago

pentae 11y ago

Yeah, things have changed in recent years in HK. HSBC HK has a horrible reputation now and they are very resistant to do corporate account openings and prefer your company is resident or doing business in HK. Regarding long stay visas in Thailand - as I said, getting a long term visa or work permit is very simple you can do it through a company who will sponsor you for a modest fee. If you are interested I can provide you with links. My BOI did take some time, you are right, but the process was relatively simple as I used an agency - but totally worth it. Yes - much easier to incorporate somewhere else. Your experience with HK/HSBC opening a merchant account is simply not a reality anymore for the majority of people, particularly without processing history, nor is it in other countries using HK. Anyway, this product offering from Stripe is a genuine game changer for people who want to operate from the US, want a business in a box and want to set it up remotely. I know many, many people who will jump on it.

eis 11y ago
>> Yeah, things have changed in recent years in HK. HSBC HK has a horrible reputation now and they are very resistant to do corporate account openings and prefer your company is resident or doing business in HK. Good to know. Though it's kinda sad as HK really used to be a great place for business. I've seen similar changes in >> Regarding long stay visas in Thailand - as I said, getting a long term visa or work permit is very simple you can do it through a company who will sponsor you for a modest fee. If you are interested I can provide you with links. Yea but many such offerings are just circumventing the law and here in the south at least a couple of these companies got into trouble. And by trouble I mean the usual extortion by immigration/police. Especially companies with nominees that hold the other 51% for you are getting more and more attention. >> My BOI did take some time, you are right, but the process was relatively simple as I used an agency - but totally worth it. Hehe the typical Thai way. Find someone (agency) who knows someone that makes the decision. Pay the agent a "service fee" from which a nice chunk goes to the official to incentivize a smooth process :) >> Yes - much easier to incorporate somewhere else. Your experience with HK/HSBC opening a merchant account is simply not a reality anymore for the majority of people, particularly without processing history, nor is it in other countries using HK. Again said to hear. >> Anyway, this product offering from Stripe is a genuine game changer for people who want to operate from the US, want a business in a box and want to set it up remotely. I know many, many people who will jump on it. Undoubtedly the offering from Stripe will be helpful for many people. Somehow I get the feeling that the US pushed other countries hard to make incorporation and especially bank account opening much harder in the guise of fighting terrorism and crime while itself trying to make it simpler. An interesting economic strategy.
angrow 11y ago
> If you are interested I can provide you with links. Yes, please. Also may I ask, what's your view of Singapore as a jurisdiction for digital nomad incorporation? Braintree already supports it for payments, and Stripe is in "private beta"...