Situation:
Nationality: Vietnamese
Living situation: Vietnam
Industry: E-Commerce
Revenue: 250k/year
Before Hong Kong Company:
Before starting a Hong Kong company, he dealt with transactions for his e-commerce business through his Vietnamese companies.
When targeting the Australian market, he faced the problem that the popular gateways (Stripe, PayPal) were not available in Vietnam, which led to a loss of potential customers.
However, he did not want to pay more taxes by opening an offshore company.
After Hong Kong Company:
With a Hong Kong company, he was able to use all the gateways that he needed to run an E-Commerce business.
His taxes also stayed the same as before because his taxes in Hong Kong were 0% due to the offshore tax exemption, and he only had to pay dividend tax from his Hong Kong company in Vietnam (that also turns out to be 0% for single member companies).
