100% agree. It's a tradeoff. If I had a lifestyle trading business, the corporate tax rate in HK is 0% (17% for revenue derived in HK, 0% for non-local revenue

100% agree. It's a tradeoff. If I had a lifestyle trading business, the corporate tax rate in HK is 0% (17% for revenue derived in HK, 0% for non-local revenue). On the other hand, funding in this part of the world is pretty depressing. I have a collection of term sheets we keep to remind ourselves how bad it could've been. Personal liability, right to veto future investments, majority board control... you name it. So we're trading higher taxes + crazy amounts of compliance, for a more managed and predictable funding process in the long run.