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Bank Account for Expats

Guest post by: Raymond Wong

Article Overview: Asia Business Centre Accounting Services • Professional agency bookkeeping service not only save costs but also ensure compliance with accounting standards. In addition, such service also helps to improve business management and profitability through professional analysis and suggestions made based on relevant information. • The accounting professionals of Asia Business Centre have commendable occupational integrity and prudent account-processing skills. We can design and implement the best service plan which meets the accounting standards through our thorough understanding of client's business, in order to enable client to focus on their core business development as well as saving operational costs. Our service includes: • Bookkeeping service • Establi

Bank Account for Expats

Asia Business Centre: Company Setup, Virtual Office, Mail Handling, Office rental in Hong Kong Asia Business Centre is devoted to help international enterprise to enter fast growing Chinese market. We offer convenience to get in touch with Chinese enterprises and help building up relationships.

Registering a company in Hong Kong

Hong Kong contains infinite potential and unlimited opportunity, leads to the Asian regional gateways, brims with current relevance, fills modern business culture, and has rich culture and fine tradition. Hong Kong encourages innovative idea, widen the field of vision and develops unceasingly.

Hong Kong is a fusion opportunity, creative and enterprising spirit place, the power rushes, and vitality vigorous. Infrastructures achieve the world first-class level, Hong Kong is not only a transportation junction, but also the cultural gathering, located at the most superior position in Asia, with many talented person gathers here, they can help you to achieve the goal, achieves the ideal.

Thousands of international enterprises benefit from setting up branch in Hong Kong. Hong Kong is one of the most famous free economy systems in the world. It located at East Asia's core, a gateway to enter China. Hong Kong has many other advantages, including its infrastructures, the legal system, low tax rate and the high-tech working population. All this can explain why so many international enterprises choose Hong Kong as their Asia base.

Hong Kong's tax system is simple and clear, always enjoys the international esteem. The tax rate and the taxable item are the lowest and the least. Hong Kong taxation system is based on geographical, only those business activities take places in Hong Kong are taxable. This means even Hong Kong registered company, if they doing offshore business, then any profit earn from offshore business will not be axed in Hong Kong.

Basically, only corporation profit, salary and property rental income are taxable. Compare with other developed countries, Hong Kong overall tax rate indeed is much lower. Income and profit tax can be as high as 40% to 50%in many countries, but in Hong Kong, income and profit tax is only 17.5% or below. Only profit generate from Hong Kong trade, industrial or business activities are taxable, all profit generate outside Hong Kong are tax-free in Hong Kong.

Advantages and aims of formation

Establish Hong Kong Company, can enhance the enterprise image and the international standing, and improve client and the partner confidence.

Hong Kong Company can act as foreign contact point, this helps the enterprise to grasp world trade opportunity, leading other competitions, explore more business opportunities and enhance the company growth.

Registering a Hong Kong Company does not requires Hong Kong ID card, does not require resident in Hong Kong, no capital requires to transfer to Hong Kong and does not even need to show up in Hong Kong personally.

Opens an offshore bank account in Hong Kong, the enterprise can transfer fund freely, this provide a safe guard for international trade.

Hong Kong Tax bureau is based on zone origin principle. This means all profit generate in China is tax-free in Hong Kong.

Capital examination is not required for registering Hong Kong Company, registration capital can be increased freely, and they are not required to pay up.

Companies are free to do most of the business. Only a small group of business scope is restricted in Hong Kong. Publishing, cosmetics, medicine, auction, enterprise group, import and export, institute, food and so on can register in Hong Kong.

The main purpose for foreign investors to register a Hong Kong company, are publishing books and periodicals, doing international finance, improve international image, and attract investments.

We provide below services:

Business Centre

· Fully Furnished Instant Office

· Open Plan office with dynamic layout

· Ready-to-use contemporary furniture for you selection

· Communication services

· Private telephone number

· Unlimited fax usage

· High speed broadband internet access

· Conference Room Rental

Virtual Office

· Corporate identity plan

· Prestigious address

· Private mailbox

· Private telephone number

· Personalized telephone answering with message taking

Company Setup

· Fast and Easy

· Setup up HK registered company within one week time

· Completion of all documentary work

Bank Account Setup

1. Our extensive HK bankers network provides you with

o Advice on trade facility and financing

o Quick and easy bank account opening

2. Time and cost saving

o HK bank account setup in home country

o Documentation arrangement for account opening

Other Business Solution

· Business consultancy service

· Business matching

· Professional Translation

· Auditing and accounting services

· Hotel and Travel arrangement

· Property agency service (rental and purchase)

· Registration of exhibition held in HK

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About the Author: Raymond Wong RSS for Raymond's articles - Visit Raymond's website Asia Business Centre is devoted to help international enterprise to enter fast growing Chinese market. We offer convenience to get in touch with Chinese enterprises and help building up relationships. Click here to visit Raymond's website More from Raymond Wong Startup your business in Hong Kong Company Registration in Hong Kong Company Incorporation in Hong Kong and China BVI Company Incorporation Hong Kong Company Incorporation

Related Forum Posts
Re: Interrealtionship between financial statements - Hi there, It is not necessary to post each transaction in all of the separate financial statements. In any given transaction, you will post an equal amount of debits and credits to the associated accounts. An example would be if you were to write a check for $500 to office depot for office supplies. The posted transaction would be: DEBIT Office Supplies $500.00 CREDIT Bank Account $500.00 Once the transaction is posted, it will automatically show up on the appropriate financial statement report. In the above example, you would find the Bank Account transaction on the balance sheet and the office supplies transaction on the profit and loss statement. I hope this is clear! Please let me know if you have any other bookkeeping questions. I would be happy to help, Stephanie Horne
You can see my Bank statement......... - Hi there, Today we are bombarded with 'Business Opportunities' by the multitude. I believe it is possible to earn a lot through the internet, but it is hard work. Nobody gets it very easy on a long term basis. [b][b]How much notice do people take[/b], [/b]when the Bank Statements are shown as means of 'how credible' their business idea is? Are they always totally true? They look authentic. The whole industry is growing rapidly. What is your experience? Is there any regulation in presenting the 'Bank Statement' or other statements from 'Click Bank' etc ? Kindest Regards Beat "Unlock People's Potentials!"
BDC - [quote="IWDCanada":jib6tqt9]I think if you try to do business in the Maritimes the Business Development Bank of Canada might be able to provide grants.[/quote:jib6tqt9] On that note, does anybody have any experiences with the Business Development Bank of Canada that they would like to share? I have been considering approaching them for a business loan.
Re: Collecting $ over the internet. - Hi dtmpower19, You could always set up a PayPal Account to collect money for the service you're providing. I'm sure any web designer would easily be able to install that feature on your site.
Re: BDC - [quote="Jones":255lkmrn][quote="IWDCanada":255lkmrn]I think if you try to do business in the Maritimes the Business Development Bank of Canada might be able to provide grants.[/quote:255lkmrn] On that note, does anybody have any experiences with the Business Development Bank of Canada that they would like to share? I have been considering approaching them for a business loan.[/quote:255lkmrn] I'll be working with the BDC later this month on a few projects. From what i've been told they are really great when it comes to small business. Their loans have a little higher interest but their payment terms are a lot easier to swallow. I can give you a contact if you need.

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