Hong Kong EU Greylist Tax Changes
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Today we're discussing some changes that have happened in Hong Kong recently.
This jurisdiction used to be quite famous for offshore company formation, as it offered lots of benefits. But is this still the case?
Is Hong Kong still a good place for company formation and banking? Will you be able to save on tax if you register your company here? Or are these days gone?
In October last year, Hong Kong has been greylisted by the EU.
So, how do taxes work in Hong Kong?
Hong Kong is not a tax-free country - it's 8,5% tax up to about $300 000, and over that it's 16,5% tax. Foreign dividends and capital gains are not taxable.
Also, there is something called ''the offshore exemption''.
This basically means, that if your company doesn't have any operations in Hong Kong you won't be paying any taxes there. So, if you have a non-resident Hong Kong company you can end up paying no corporate taxes.
As you're probably already aware the world is not really keen on countries that make it possible for you to pay no tax, therefore these gaps and loopholes are something they're looking to close.
European Union greylisted Hong Kong, and now Hong Kong is considering closing these gaps, which will basically mean that you will have to pay corporate taxes in Hong Kong.
We yet have to see how this situation develops, but if you have a Hong Kong company you may want to look for an alternative sooner rather than later.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1
Видео Hong Kong EU Greylist Tax Changes канала Offshore Citizen
You can visit our websites for more information about us: https://offshorecitizen.net & https://www.offshorecapitalist.com
Today we're discussing some changes that have happened in Hong Kong recently.
This jurisdiction used to be quite famous for offshore company formation, as it offered lots of benefits. But is this still the case?
Is Hong Kong still a good place for company formation and banking? Will you be able to save on tax if you register your company here? Or are these days gone?
In October last year, Hong Kong has been greylisted by the EU.
So, how do taxes work in Hong Kong?
Hong Kong is not a tax-free country - it's 8,5% tax up to about $300 000, and over that it's 16,5% tax. Foreign dividends and capital gains are not taxable.
Also, there is something called ''the offshore exemption''.
This basically means, that if your company doesn't have any operations in Hong Kong you won't be paying any taxes there. So, if you have a non-resident Hong Kong company you can end up paying no corporate taxes.
As you're probably already aware the world is not really keen on countries that make it possible for you to pay no tax, therefore these gaps and loopholes are something they're looking to close.
European Union greylisted Hong Kong, and now Hong Kong is considering closing these gaps, which will basically mean that you will have to pay corporate taxes in Hong Kong.
We yet have to see how this situation develops, but if you have a Hong Kong company you may want to look for an alternative sooner rather than later.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
We have lots of interesting articles on different topics, we have relevant information up to date.
Author: Michael Rosmer
Feel free to join our community!
Don’t forget to subscribe to our channel
https://www.youtube.com/channel/UCZDToCpuHc4kEHDurkQpVPg?sub_confirmation=1
Видео Hong Kong EU Greylist Tax Changes канала Offshore Citizen
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