It does not escape the pressure of the United States, which through FATCA forces the country's banking and financial entities to report information on American customers.

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offshore in Hong Kong

A paradise for bank secrecy and offshore companies
offshore hong kong company


NGO Kong is not free from pressure from the United States, which through FATCA obliges the country's banking and financial entities to report information on US clients. Nor does it get rid of the rest of the world, that through the automatic exchange of information of OECD endangers the Banking secrecy and the existence of offshore companies and at offshore bank accounts.

The banks in hong kong they are coerced by the "policemen of the world" and therefore do not facilitate opening of offshore bank accounts. Only in some cases, and under lengthy and expensive opening procedures, a bank account is obtained.

Why with Foster Swiss?

There are many reasons to put yourself in the hands of a consulting firm with a long history and Swiss tradition that will help you manage your assets efficiently.

  • We are independent international private banking consultants offering high flexibility.
  • We have a long history and Explore professional that endorse us as financial specialists.
  • We carry out all our procedures from our offices in Madrid and Geneva.
  • We offer bilingual attention (Spanish and English) personalized and tailored to each client.
  • 100% discretion and confidentiality assured.

    Hong Kong the last bastion of bank secrecy


    However, despite the fact that transparency is being strengthened in the country, and efforts are being made to provide information to the United States and the rest of the world, Hong Kong along with Singapore, are the last two bastions of the Banking secrecy and where in 2017 it is still possible protect privacy and not publicly disclose private information.

    Bank secrecy in Hong Kong is real and protected. The hong kong banks They are not authorized to provide account information and personal data to the authorities unless they relate to and are associated with criminal or illegal activities, as well as money concealment.

    Hong Kong's bank secret in numbers


    Despite the fact that in 2009, Hong Kong escaped entering the OECD list of tax havens after a tough negotiation with China, the β€œPearl of the East” is in second position, only behind Switzerland, as a country with the most opaque finances in the world, according to the classification of Tax Justice Network.

    It occupies the second position in the Financial Secrecy Index, with a relatively high secret score of 72 points out of a total of 100, placing it on a par with Panama and with a higher level than that of all the extraterritorial colonies of United Kingdom.

    A report of International Consortium of Investigative Journalists (ICIJ) in 2014 revealed that continental girl elites kept a wide range of assets secret through trusts, offshore companies and other vehicles. This is because the enclave presents security and freedom to carry out all kinds of business. In 2015, the territory had $ 350.000 billion in assets of private banking, a sector that thrives based on secrecy and discretion.

    Why doesn't an offshore company in Hong Kong pay taxes?

    n Hong Kong the territoriality principle prevails, that is, the non-resident companies who carry out their activity outside the territory do not pay taxes. If the business is conducted outside Hong, it is tax exempt, but if the company has a presence in the jurisdiction, such as customers, employees and suppliers, it will have to pay 16.5% tax on its net earnings.

    A relatively high tax rate that makes the former British colony the quintessential home of the offshore companies in Hong Kong. A circumstance used by many to hide money, since, in addition to not paying taxes in the territory, they also do not declare it in their countries of residence.

    What private banking does Hong Kong offer?


    Mainly, there is a small and medium local bank, destined for Chinese clients, and a European international bank that works with great fortunes from all over the world. This type of banking offers services of Wealth Management, similar to those of European tradition, but less specialized than those offered in Switzerland o Luxembourg.

    The banks in hong kong they do not issue anonymous (prepaid) bank cards, nor do they open a bank account if it is not with the existence of a resident trustee. This figure is used to open accounts in other jurisdictions.

    Fiduciary services in Hong Kong


    a Hong Kong legislation requires the use of the figure of fiduciary resident both for the constitution of an offshore company and for the opening an offshore bank account in the jurisdiction.

    Therefore, banks and advisers and managers of Hong Kong, offer a wide catalog of trustee or trustee services that includes: trust, fiduciary, share registry, nominee and custodian services. In addition, a complete range of corporate, financial and accounting services for individuals, family offices, intermediaries and corporations. These services refer especially to the constitution and opening in other jurisdictions due to the bureaucracy and difficulty involved in Hong Kong.

    This is one of the reasons why there are so many companies in Hong Kong involved in the creation of trusts y offshore companies due to the lack of confidence of Chinese citizens in the laws and courts of the country. For example, companies may establish holding companies abroad due to Chinese regulations that restrict foreign ownership in certain industries. The Chinese technology giant Alibaba Group Holding Ltd., is incorporated into Islas CaimΓ‘n, Por ejemplo.

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