Has anybody with a Hong Kong company been through an Offshore Profits claim?

@rich there’s literally hundreds you could choose from. DM me and I can provide you with contact details for the accountancy firm I use.

just messaged you… but also replying for others who might see this… Yes there are hundreds of accountants, but it’s tedious to ask each for a quote and even then you don’t know which hidden costs they pile on later, so therefore asking for recommendations…

Many people think they will have to pay no corporate tax when they incorporate in HK, if you want a real opinion about HK, you should ask people who have at least a 2 year old company.
I know someone who thought he would not pay any corporate tax, during the offshore profits claim, he has been asked to provide local tax receipt of his local tax authorities as he was not a tax resident, he could not provide it and had to pay the 15,6% corporate tax. Furthermore, he had to pay the HK company for doing the paperwork 2400 euros. In Total, it was like incorporating in the UK, where corporate tax is 20% because i can count the paperwork has a type of “tax”. If we count the paperwork, local offshore company fees and tax, it was like 20% perhaps more.

Yes, this is a very good point which most people are not aware of, when they setup a HK company. I believe it was on the IRD’s website at one point in the past (but their site is horrible so I can’t find the exact language they use), but it was almost exactly as you described: they expect you to have paid tax somewhere!

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