I will be transfered to Hong Kong by the end of the year and I am trying to find out whether it would be a sensible idea to set up a limited company under my name to buy an apartment and then have my employer directly pay my housing allowance to the company I'd have set up. The idea is of course to save this allowance as my emplyer won't offer me the option of a higher salary with no housing allowance. Could anybody tell me what step I should follow and what would be the tax and legal consequences of such a construction?

Thanx for the help!