Situation:
Nationality: British
Living situation: Philippines
Industry: Marketing
Revenue: 150k/year
Customer region: Europeans
Before Hong Kong Company:
Before starting a Hong Kong company, he thought about starting a company in the Philippines, but he felt unsafe having money in bank accounts in the Philippines, and getting money out of many Asian countries can be a struggle.
After Hong Kong Company:
With a Hong Kong company, he had the financial infrastructure and banking experience (PayPal, Stripe, Airwallex, etc.) he is used to in Great Britain.
Simultaneously, he had the benefit of paying 0% due to Hong Kong and Philippines tax law play well together:
- He pays 0% tax (corporate tax and dividend tax) in Hong Kong because his clients are based in the UK (offshore tax exemption).
- He pays 0% tax on his dividends from his Hong Kong company in the Philippines because it is a territorial tax system.
