Business

How to Open An Hong Kong Business Without Living Or Going There

In the past, one was able to open a company in HK without being a Hong Kong resident. But today, unless you are planning to stay in Hong Kong, you can only just open up a Limited Company. As we stated, you can go to Hong Kong and open the business on your own. Nevertheless the authorities require your company to have a workplace for your company set up in Hong Kong.

The good thing is that you don’t have to rent an office and get a secretary. There are many agencies which will be ready to offer this support for you for a fee. They can help to keep cost low since the same person may be a secretary for a number of companies. This is actually the same way to get an office for your business.

Furthermore, you can open up your business without even planning a trip to HK (E- registration and Paper application both are allowed). You will give all your details simply by email or telephone with the agency of your decision, send all the necessary files by email, pay through by PayPal, credit cards or bank transfer, and you can send all documents to them through a courier service.

Offshore Online Business: Incorporating a Global Business

It is a good idea to start your business overseas, specifically one that is online based. If you incorporate your HK business correctly, it offers a legal method to avoid tax obligations (much like an IRA), and also allowing a much low liability.

An internet business does not have any limitations concerning just how and exactly where it could conduct business, so why if you let your company be tied to a something that you can avoid? Beginning an offshore online business is an excellent way to develop streams of income outside of your home country.

Why might you want to have income channels beyond your nation? Well, when inflation goes bad in one place, having money stream abroad in a more powerful currency could be a choice.

If hyperinflation would find its way to your country, which is a real risk all over the world , making a little part of your investment in another country is invaluable.

Offshore Organization Formation: Intricacies

There are a large number of countries, such as for example Hong Kong, Singapore and the Virgin Island that provide a great business environment with many legal tax benefits.

The most important thing that you need to do is ask for advice from a professional tax attorney ( a person who knows international taxes law) in your home country. In addition, do your homework to comprehend the advantages of offshore courtiers.

After you have done your homework for your company set up in Hong Kong, it is possible to undergo the whole incorporation process online in most states, and you may setup your offshore organization in less than a couple of days. You often start the procedure with registering your company name and using the right documentation. The next phase, after this, is to open a bank-account or merchant account for your business.

eCheck Processing Helps Businesses Save Time and Money

Purchases are more and more often made online, According to BI Intelligence research, online consumer spending in the US will reach $632 billion in 2020, nearly doubling the amount spent in 2016.

 

Thanks to modern advances in technology, paper checks are now turned into electronic transfers (debit), also known as an electronic check or eCheck. For merchants or service providers, this means funds are electronically transferred from a customer or client’s bank account directly into their bank account through the Federal Reserve Bank’s Automated Clearing House (ACH) system.

 

Processing Electronic Checks

To easily process checks electronically, you can use a software program or a web-based payment processing service. With a web-based system or ASP (application service provider), you won’t have to install any software or purchase any hardware. You just need to key in check information and submit the transaction.

 

To process eChecks, you should:

 

  • Notify your customers that their paper checks will be processed electronically
  • Collect and convert, meaning when a paper check is presented as payment, it’s converted to a one-time ACH-based electronic payment
  • Process, meaning an ACH file is created and presented to your financial institution; the payments are processed through the ACH network, the customer’s account is debited, and your account is credited
  • Confirm, meaning when your customer’s account is electronically debited, the payment is listed on his/her bank account statement under, e.g., “other electronic payments”

 

Electronic Check Processing Benefits for Your Business

Electronic checks occur digitally, which accelerates the process.Unlike eChecks, paper checks require longer processing and hold times, and you can’t get paid faster. eCheck processing offers a number of benefits that you can use to your advantage:

 

  • Improve cash flow by accessing your money more quickly
  • Save your customers time and money
  • Are more cost effective
  • Are far more secure than paper checks, thanks to an encryption feature
  • Increase on-time collections
  • Receive 24-hour notification of NSF(non-sufficient funds)
  • Eliminate manual reconciliation of insufficient funds
  • Eliminate time-wasting trips to the bank
  • There are no deposit slips to complete
  • Fewer lost/stolen checks

 

When selecting an eCheck processing system, focus on:

 

  • A system that doesn’t require you to buy expensive hardware/software upfront
  • A flat rate on electronic check transactions (you shouldn’t pay a percentage of the transaction to the processor)
  • Monthly fees, transaction fees, and monthly minimums
  • A system that securely stores customer information
  • A system that can easily export customer data, enabling you to automate your entire AR system
  • A system that allows you to both process eChecks and do direct-debit transactions
  • Security

 

With reputable check processing companies, you can get exceptional check processing solutions to meet your business needs. Apply to a reliable and experienced check processing company so to enjoy only the best payment processing services available these days.

 

 

Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best check processing company, serving both traditional and high-risk Businesses.

How Do You Register Your Company in HK – A Systematic Approach

Hong Kong is among the world’s most loved and environment friendly financial facilities. Taking the benefit of no exchange control, sound authorized system, efficient transportation and big communication networks, the companies registry hk is attractive for merchants around the world. This place is ranked the freest economic system in the world. Ever since then, many people have been wondering how to start a business in Hong Kong?

By statute a Hong Kong company must have the following conditions to start. To begin with, it must grant a name of the company and take a look if the name is out there. Secondly, copies of ID cards or passports of shareholders are indispensable, and there ought to be a minimum of one shareholder. Thirdly, it’s necessary for a company to have the registered capital. If the capital has reached ten thousand HK Dollars, there is statutory requirement that the authorities will levy 0.1% of stamp tax. Moreover, the proportion of shares allocated must be confirmed among directors and shareholders. Last but, not least, the organization ought to fill in contact information, consisting of directors and shareholders.

In addition to that, nowadays, a growing number of people decide to entrust some reliable brokers to handle the companies registry hk formation. And the procedure has essential steps below. First, both parties just like the company and the agent ought to sign for the attorney. Second, the company must prepay 50% of whole cost to the agent. Then your agent will draw authorized varieties and info from Corporations Registry and Tax Department, and constitute the articles of affiliation of the company. Third, shareholders have to autograph a number of legal files and associated info which ought to be returned once more to the agent subsequently. Later the agent will submit the above stated documents to CR and Tax Revenue Branch to register. When the business formation is completed, the organization pays the rest to the agent.

When signing a register for your organization in this Asian City, you will want to briefly describe the particulars of one’s business.

  • You’ll want to offer the date that the enterprise will begin its operations.
  • The address of your registered office.
  • You should specify the authorized agent.
  • In case your corporation has adopted an off-the-cuff Chinese name, the name may be included in the application. Such business names may not appear on the certificates of incorporation or change of name certificates. It is not certainly a must that such names be registered.
  • All the data registered with the applicable office might be inspected publicly. Any modifications made for them must be notified to the applicable office within one month.

Processing times- It takes half-hour for over-the-counter paper registration. If sent by application it should take 2 days. Firms take one hour for their online features to be processed. Paper applications take four days to be processed.

It is very vital to know the kind of authorized entity you’d like your business to have. Available alternatives incorporate limited company, sole proprietor, partnerships and subsidiaries.

 

Nancy, Geoff Thompson: Saving for Handicapped Children

Outlining for future when the caretaker is no longer alive to make decisions is a vital part of the child’s parents’ function; there are legal, monetary, and medical considerations to remember throughout the initial planning procedure. In this blog site post, we’ll go over the legal preparation part in more detail, particularly about wills and legal guardians for the children when the parents are no longer alive. Geoffrey Thompson has more.

 

Legal Planning for a Kid with Unique Needs

 

During the planning process to safeguard the monetary support and security of special-needs kids after their parents are not there to make choices, legal concerns form some of the most crucial parts. In legal planning, there are 4 major legal concerns to think about. These are:

 

Guardians– guardians are those selected by the special-needs kid’s birth parents to make choices on behalf of the moms and dads if they ought to die. Guardians are in some cases described as conservators. A guardian is not always a beneficiary or trustee of financial possessions, although some guardians can be selected to both roles.

 

Special Requirements Trusts– this is a special kind of legal arrangement where properties reserve to take care of special-needs children are in a trust. A trust is a legal entity, almost like a corporation, that receives and manages the monetary assets on behalf of a person. Trusts provide crucial securities that wills or other final-wishes arrangements simply can not offer.

 

It is these last two concerns that are of main issue, as it is possible that once special kids maturate, the guardians will lose some or all authority to make choices on their behalf.

 

Unique needs trusts and letters of intent induce essential legal functions, as they secure the parents’ ability to make essential choices, after they have actually passed away.

 

Letters of Intent– this is a crucial buddy document to a will or an unique requirements trust. The letter of intent, often described as a letter of direction, provides guidelines for trustees or recipients. Simply put, it define the dreams of the deceased, and in this case, provides a blueprint for looking after the special-needs child or kids.

 

Wills– a will is a legal document that specifies how a person wants his/her properties distributed after death. A will is prepared by a legal representative and after the individual passes away, it goes through a prolonged process called probate. When the court of probate has actually finished its examination of the document and its guidelines, assets can be awarded to recipients.

 

Geoffrey and Nancy Thompson blog has more information if you’d like to read more.