Estonia's E-Residency Program Is Growing Faster Than Predicted

Post by awch » Mon, Oct 19, 2015, 4:30 AM UTC

crdb wrote: post #42

yummyfajitas wrote: post #22

It's worth noting that you can get similar benefits from Singapore. Singapore doesn't have a cute "E-residency" program, but a foreigner can just pay a local agent and have a corporation opened. Corporate taxes are a clean 17% (lower for small businesses and startups), no dividend taxes, etc. http://www.guidemesingapore.com/incorporation/company/singap... http://www.guidemesingapore.com/taxation/corporate-tax/singa..…

From my (limited, I Am Not A Lawyer, etc.) understanding: First, it's expensive - you should count a good S$5k SGD/year if you go through an established player (e.g. Hawksford, who you are quoting), maybe a bit less otherwise. This ad infinitum, as you need a local director to keep the company open. And unlike in Hong Kong not so long ago, it has to be a real director - someone who theoretically can open bank account…

Could you comment on the current state of affairs in HK?

Post by crdb » Mon, Oct 19, 2015, 6:07 AM UTC

awch wrote: post #51

crdb wrote: post #42

Earlier quoted context omitted.

From my (limited, I Am Not A Lawyer, etc.) understanding: First, it's expensive - you should count a good S$5k SGD/year if you go through an established player (e.g. Hawksford, who you are quoting), maybe a bit less otherwise. This ad infinitum, as you need a local director to keep the company open. And unlike in Hong Kong not so long ago, it has to be a real director - someone who theoretically can open bank account…

Could you comment on the current state of affairs in HK?

A few years ago, I opened and closed a company there with no problems. Did it again recently (post the various money laundering laws) and it was much more paperwork. When I flew to HK to get the bank account opened, they stressed I might not get it and that many foreigners could not get an account opened. 4 weeks later, HSBC denied me an account so the company lies empty until I decide to close it.

In a previous thread, someone said they managed to open an account so maybe it's on a case by case basis.

Re: Estonia's E-Residency Program Is Growing Faster Than Predicted

Re: Estonia's E-Residency Program Is Growing Faster Than Predicted