Situation:
Nationality: German
Living situation: None (digital nomad)
Business: Freelance software engineer
Revenue: 120k/year
Customer region: DACH (Germany, Austria, Switzerland)
Before Hong Kong Company:
Before starting a Hong Kong company, he simply wrote invoices in his name with a personal address, which resulted in two risks.
Problem 1: B2B invoices needed
His clients wanted B2B invoices to be able to write them off as expenses.
Problem 2: Fear of closing the personal bank account
Also, he was afraid that his bank in Germany would find out that he was using his personal account for business purposes and closing the bank account.
After Hong Kong Company:
With a Hong Kong company, he was able to solve both problems.
1 – He wrote invoices from his Hong Kong business, which are B2B invoices and are accepted by the German tax authorities.
2 – He has a business bank account in Hong Kong with Airwallex to receive any amount he wants. He can then choose how much money per month he wants to transfer to his personal account.
