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What turned me off from Hong Kong so far is the mandatory yearly audit for your limited which will cost $5000++ (USD, not HKD).
by himlion 11y ago
What turned me off from Hong Kong so far is the mandatory yearly audit for your limited which will cost $5000++ (USD, not HKD).
- JacobAldridge 11y agoWhile I haven't explored specific costs, I agree it's definitely a situation where the benefits have to outweigh the costs. For the OP, there's no point doing this if it's not going to bring in more work; for others, it may be the territorial-nature of the HK tax system that makes it worthwhile - I'd gladly pay a $5Kpa auditing fee if it saved me $20,000 in tax compared to another jurisdiction. (That's a key reason why I haven't pulled the trigger yet - my personal tax residency is such that my HK entity would be a Controlled Foreign Corporation, and those tax benefits wouldn't apply.)