Best Offshore Location for Easy Remittance of Funds (In/Out)

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  1. #1

    Join Date
    Jan 2018
    Posts
    4

    Best Offshore Location for Easy Remittance of Funds (In/Out)

    I'm in High Seas Trade and International Trading Business.

    Which country would be the best for setting up a company for ease of Remittance of Funds (In/Out of the country) for Commercial Transactions without any tax implications.

    I've researched some countries like HK, Singapore, Estonia, Georgia? Any ideas in which country would it be easy to open a Business Bank Account and easy to remit funds in and out for my Business Transactions.

    Thanks alot!


  2. #2

    Join Date
    Dec 2009
    Posts
    6,714

    Where do you have your business banking and company setup now?


  3. #3

    Join Date
    Jan 2018
    Posts
    4

    Currently, set up in the UAE. Was looking for another jurisdiction which is similar to the UAE and is business-friendly. Is it possible for a UAE company to open an offshore bank account in a HK Bank without opening a separate HK Company?


  4. #4

    Join Date
    Jul 2015
    Posts
    136

    If you manage all your business outside of HK, then you can structure a offshore non taxable business in Hong Kong.


  5. #5

    Join Date
    Apr 2017
    Posts
    73

    Easier option would be to setup a HK company and have the bank account in UAE with your existing bank. Easier to open and operate the bank account and tax efficient from HK perspective unless you are concerned of keeping funds in your current country.
    It is also possible to setup a branch of the UAE company in HK and setup account either in UAE or HK. Depends on what you are trying to achieve. Better speak with a accountant and/or tax advisor.


  6. #6

    Join Date
    Jan 2018
    Posts
    4

    @latex All the business would be managed outside HK from the UAE, no goods coming into HK at all, no domestic sales. All sales are made internationally outside HK.
    @LeftTC Already have a UAE setup, so I guess having a UAE Account for a HK Company wouldn't serve my purpose. Setting up a branch of my UAE Company in HK with an account in HK could be an option.

    Basically, I'm simply looking to receive and send payments for the goods I trade and deal within. Already have a UAE setup, but was looking for another jurisdiction similar to the UAE which would be non-taxable. If it is easy to setup a offshore non-taxable business in HK with easy business account opening then would surely go for it. Your thoughts?


  7. #7

    Join Date
    Jan 2018
    Posts
    4

    Any responses?


  8. #8

    Join Date
    Sep 2012
    Location
    香港
    Posts
    1,162

    Looks like you already have your answer. Go ahead and set up a HK company. As long as your transactions don't touch HK-based entities and you don't live in HK, no tax is payable.

    There are accountancy fees to consider, but if the volume of your trading is significant, this won't be a problem.