4 ms·
My company is a Hong Kong registered entity and there is no tax because no work is being performed in Hong Kong. Personal income tax in HK is like 15%, but onl
by jawngee 13y ago
My company is a Hong Kong registered entity and there is no tax because no work is being performed in Hong Kong. Personal income tax in HK is like 15%, but only of you earned that income in HK.
Some people I know who have setup a similar thing only pay themselves 50k USD a year and the company pays for the rest as expenses. It's a little more complicated then that, but that is the gist of it.
Hong Kong and Singapore are set up to work like this. It's how all the mainland Chinese hide their money from the communists.
- tosseraccount 13y agoAnd get it into a Schwab account.
- stfu 13y agoVery interesting. How much is the setup / running costs for a system like this?
- seanmcdirmid 13y ago> Some people I know who have setup a similar thing only pay themselves 50k USD a year and the company pays for the rest as expenses. Technically those people are still on the hook for the expenses the company pays for them, sans the generous overseas housing deduction that congress recently implemented. I have the opposite problem really. All my money is held by the communists (well, in my China Merchants Bank account anyways).
- gojomo 13y agoAre you a resident of HK or doing this as a citizen/resident elsewhere? I'd be interested in speaking with any experts/service-providers you could recommend for the process of setting up an HK-based company. (Contact info in my profile.)