How to Set Up a Remote Workforce in Hong Kong

May 8th, 2023 by

In the ever-evolving modern business landscape, embracing a remote workforce is a win-win for all stakeholders, thanks to the flexibility offered. While only a certain section of the global workforce worked from home before the pandemic, the mass transition to remote working became a reality in the post-COVID-19 world.

Being gainfully employed no longer means working out of a physical office.

Your employees can work anywhere in the world and still get their work done. And if experts are to be believed, companies opting for remote workforces to give employees the freedom to work from any location they choose are here to stay. 

The remote working landscape in Hong Kong consists of:

(i) Employees based and employed in Hong Kong and seeking to work remotely within Hong Kong and

(ii) Employees employed and based outside Hong Kong and seeking to work remotely from Hong Kong.

In this guide, we’ll explore the various legal and practical considerations before setting up a remote workforce in Hong Kong along with insights into creating an effective remote work policy for seamlessly managing your employees.

Understanding Remote Workforce in Hong Kong

Remote work refers to a form of employment where the employees do not work from a central office of the employer. Typically, such employees do not commute to any office and can work from anywhere they want as long as they can access the internet and their laptop.

There are various types of remote working arrangements.

Some remote workers are fully remote, which means they never have to walk into an office and can work remotely 100%. Some employers only allow certain employees to be remote workers depending on their geographic location and job function.

Freelancers and independent contractors in specific sectors are also technically remote workers, although they are not bound by any formal employment contract.

Remote working is prevalent in Hong Kong. Hong Kong companies hiring globally prefer having a remote workforce and hiring candidates from countries such as Ukraine, India, the Philippines, the United Kingdom, and the United States. A survey found that in 2022, 89 percent of employment contracts offered by Hong Kong companies were for remote work.

Hong Kong is also a popular destination for digital nomads working remotely as self-employed individuals or under an employment contract for companies in the United States, the UK, Canada, Singapore, and Denmark.

But to become a remote-friendly company doesn’t mean you cannot have a physical office in Hong Kong.

Several companies set up a branch or representative office to establish their business presence.

The advantages and disadvantages of a remote workforce are as follows:


  • Reduced costs for both employer and remote worker
  • Remote workers can set up their schedules and work flexibly
  • Remote workers enjoy a better work-life balance
  • Employers get access to a diverse and wider pool of candidates with specialized skills
  • Reduced absenteeism
  • Better productivity of employees


  • Security is a major concern for employers and remote workers, especially those handling sensitive or confidential information
  • Unstable internet access can prevent remote employees from performing their tasks on time
  • Training remote employees is a challenge

Legal Aspects of Setting Up a Remote Workforce in Hong Kong

Every employee in Hong Kong enjoys several legal rights under Hong Kong laws, which extend to those who are part of a remote workforce. There is also no distinction between employees hired by a non-Hong Kong company and a Hong Kong company.

However, no legal protections are available to independent contractors/freelancers who are remote workers.

Employment Law and Labor Ordinance

Employee Rights and Protections

Key rights and protections available to all employees include:

  • Protection from discrimination on any ground, including sex, marital status, disability, and race
  • Receiving minimum wages
  • Minimum paid holiday entitlement and paid time off for illness or injury for four consecutive days

Continuous employees are also entitled to paid annual leaves, maternity/paternity leave, sickness allowance, rest days, and severance or long service payments. A person must work for 18 or more hours weekly for the same employer for at least four weeks consecutively to qualify as a continuous employee.

Courts have held that even if Hong Kong law doesn’t govern the employment contract, employees working in Hong Kong still enjoy employment protections offered by law, and employers cannot bypass compliance obligations. This also applies to remote workers and entitles them to enjoy employee benefits per Hong Kong law and the foreign law applicable to the employer’s central office.

Employer obligations

Key obligations under the Hong Kong Employment Ordinance include:

  • Paying minimum wages
  • Enrolling employees in the mandatory provident fund scheme and making a contribution
  • Maintaining necessary insurance coverage to cover liabilities for work-related injuries, if any
  • Providing annual leave, statutory holidays, maternity and paternity leave, sickness allowance, severance, etc.
  • Ensuring a safe work environment
  • Providing minimum notice of termination or payment in lieu

But a foreign entity employing remote workers in Hong Kong is unlikely to provide the benefits under the scheme unless it holds a business registration certificate in Hong Kong.

Visas and Work Permits

If an individual is a national or a resident of Hong Kong or has a valid employment visa to work in Hong Kong, they can work remotely from Hong Kong. Persons holding a Hong Kong permanent identity card can also freely take up remote employment in Hong Kong and work for foreign entities.

There is no special visa for individuals who are not Hong Kong nationals but want to relocate as digital nomads and take up remote work opportunities in Hong Kong. But they can apply under the Quality Migrant Admission Scheme or the General Employment Policy.

Under the Quality Migrant Admission Scheme, applicants don’t need any offer of local employment before they enter Hong Kong. However, applicants must have a confirmed employment offer if they apply under the General Employment Policy.


Both employers and remote workers have tax obligations in Hong Kong:

Employer tax obligations

Since Hong Kong follows territorial tax laws, profits arising in or derived from Hong Kong are taxable. Employers with a tax presence in HK must file annual tax returns and the most recent audited financial statement.

Any overseas company that employs persons in Hong Kong to carry on its business as part of its remote workforce may be considered a Hong Kong permanent establishment. A Hong Kong PE is subject to local tax laws, subject to a double taxation agreement.

Every employer in Hong Kong also should notify the Inland Revenue Department about the commencement and cessation of employment of its employees in Hong Kong.

Employee tax considerations

A foreign individual who works remotely from Hong Kong is subject to Hong Kong salaries tax, provided their employment income is derived from Hong Kong. This is subject to any double taxation avoidance agreement between Hong Kong and the individual’s country of residence.

If an overseas employer employs a foreign national who works remotely from Hong Kong, they will likely be considered non-Hong Kong employees. They only need to pay salaries tax on income directly from services provided in Hong Kong.


Corporate insurance is a crucial aspect of maintaining a remote workforce.

Mandatory insurance requirements

The Hong Kong labor department states that employers must compensate employees for work injuries, occupational diseases, and death.

Employers should purchase and maintain compulsory employee insurance of at least HKD 100 million if employing up to 200 employees and at least HKD 200 million if there are more than 200 employees.

Employers cannot provide insurance coverage through salary deductions.

Additional insurance options

There is no maximum insurance coverage laid down under Hong Kong law. So employers are free to purchase a higher coverage depending on the job function of the remote worker.

Practical Aspects of Setting Up a Remote Workforce in Hong Kong

When you set up a remote team, it’s important to understand the practical aspects that are required.

If you’re opting to get a remote business address in Hong Kong or other options, it’s critical to understand these aspects beforehand.

Here are some things you should consider.

Establishing a Remote Work Policy

A remote work policy clearly outlines employees’ and employers’ expectations when work is done remotely.

Hiring a remote workforce without a formal policy can lead to miscommunication and confusion. Here’s what you should consider while framing one:

Scope and objectives

A remote work policy aims to broadly lay down the scope of work of remote workers, rights and obligations, and how the employer will evaluate their performance.

A well-drafted policy ensures that even though employees may be working remotely in different locations, they know relevant resources and protocols to perform their tasks efficiently.

Eligibility and Expectations

The policy should clearly specify which job functions are allowed to work remotely. It should also clarify whether the policy applies to full-time or part-time employees working remotely.

The availability expectations from remote employees should be clearly stated in the policy and state whether employees have the flexibility to decide their own schedule, or if they should be available from 9 AM to 5 PM on all working days.

Communication guidelines

Remote working requires efficient communication.

The policy should lay down whether employees working remotely are expected to respond to their coworkers immediately on a real-time basis or if an asynchronous mode of communication is acceptable. Including an indicative response time guideline can be useful.

It should also identify a digital workplace platform/communication tool all employees should use for all project-related conversations.

Performance and accountability

The remote working policy should lay down the working hours of everyone working remotely.

It should also lay down what KPIs are taken into account for evaluating the performance of employees.

Technology and Infrastructure

Managing a remote workforce is highly dependent on technology. Here are a few things to keep in mind:

Remote work technology essentials

To allow your employee to work smoothly from a remote location, ensure they have access to relevant hardware such as a laptop with an in-built web camera, other mobile devices, USB or external drives, etc.

Avail the services of a reliable third-party cloud hosting provider to upload all your files, databases, and applications your employees need to access.

Security and data protection

Ensuring compliance with data protection law is a non-negotiable for data security.

Create a comprehensive cybersecurity policy telling employees how to handle sensitive and confidential data. Have virtual training to sensitize remote workers about potential threats. Make it mandatory for the mobile workforce to use virtual private network software for business.

Implement a strong password policy and multi-factor authentication for the mobile workforce as a security measure.

Ensuring seamless collaboration

Working remotely can make collaboration awkward and clunky, resulting in poor productivity.

To overcome obstacles, opt for cloud business communication platforms that support video and voice needs and can be easily integrated into your existing workflow. Establish clear communication protocols to make remote collaboration work smoothly.

Hiring and Onboarding Remote Employees

How do you know if someone will make an excellent remote employee? The process you follow to make a hiring decision can make all the difference.

Sourcing talent

The first step is coming up with a job description. To create a solid JD, provide details of the position and the skills you seek. Add a line or two about your company values and ethos. This will help you to filter candidates who do not fit the bill.

Post the details on popular head-hunting websites as well as the social media accounts of your company.

Remember to share the JD with your existing employees if you have a referral system.

Interviewing and selection

Hiring for a remote role usually involves conducting remote interviews.

Ensure that all interviews are conducted over a video call instead of a phone call, as it helps establish a better connection with the candidates. Have a list of questions to evaluate whether the individual is a right fit for the role. But don’t shy away from asking a few icebreaker questions to make the candidate comfortable.

Effective remote onboarding process

Remote onboarding goes beyond offering logistical or technical support.

Create an intentional onboarding experience by appointing a dedicated onboarding team. Once a candidate accepts the job offer, the team can start the joining formalities, such as giving them access to the digital workplace and sharing employee policies, etc.

The team can also proactively reach out to the remote employees and iron out any practical issues they may face once they start work.

Best Practices for Managing a Remote Workforce in Hong Kong

Here’s what you should put into practice for seamlessly managing a remote team in Hong Kong:

Communication and Collaboration

Ensuring efficient communication and collaboration with individuals working remotely is one of the crucial practical considerations you must consider.

Make sure to establish standardized formats for communication but also make an effort to understand the communication preferences of your teammates. Before starting virtual meetings, set aside some buffer time to allow everyone to catch up and have a virtual water cooler moment.

Lack of team cohesiveness is a challenge managers face when employees work remotely. Since remote working means no physical interaction daily, schedule regular check-ins with members to get an exact idea about where your team is currently at.

Performance Management

Micromanagement is the death knell for remote teams.

For effective performance evaluation, communicate to your employees what’s expected of them and what metrics will be considered for assessment and review.

Set aside time regularly to provide feedback and talk about an employee’s performance in general and also let them know how they are faring against specific objectives.

Employee Engagement and Well-being

As there is no clear separation between home and work, it is far more challenging for remote teams to maintain a healthy work-life balance.

Working remotely shouldn’t be at the cost of sacrificing mental and emotional well-being, and employers should lead by example. It is best not to promote a work culture where everyone puts in ridiculously long hours and stays online round the clock. Except in an emergency, your team members shouldn’t be expected to answer work queries once they log off or are on leave.

Schedule regular check-ins to gauge employee well-being. If you notice any troubling signs, provide the necessary support, such as reimbursing employees for mental health counseling sessions.

Check whether your employees have a proper set-up for home working and as them to contact the technical support team if they are experiencing technical difficulties.

Bottom line

Setting up a remote workforce is a great way to add diverse talent to your company. Besides providing freedom and flexibility to employees, remote working reduces the employer’s cost and increases the workforce’s overall productivity.

Before you take the leap, you must consider all the legal and practical considerations of maintaining a remote workforce in Hong Kong. Complying with various provisions of employment law, tax law, insurance law, and immigration laws is critical to avoid penalties.

Several businesses are proactively embracing the remote work trend and hiring workers from Hong Kong. As the law doesn’t distinguish between remote and regular workers in Hong Kong, ideally, businesses must establish a presence in the region to comply with their statutory obligations.

Setting up virtual offices for remote workers can help businesses manage their remote workforce efficiently. But even in a business-friendly destination like Hong Kong, choosing the correct mode for establishing the presence of your business can be challenging.

Get in touch with Air Corporate — we help businesses across the globe to explore their options in Hong Kong and get their business up and running.


As a foreigner, can I work from Hong Kong as part of a remote workforce?

You can become a remote worker in Hong Kong only if you have a necessary work permit.

How easy is it to get a work visa in Hong Kong?

Difficulty in securing a work visa varies on a case-to-case basis.

No one can guarantee a positive outcome of your visa application.

Which industries have the best remote work opportunities in Hong Kong?

Businesses engaged in computer & IT, marketing, project management, medical and health, recruiting, and accounting are more likely to offer remote positions.

What is a Corporate Account: How it Works, Benefits & Tips

April 28th, 2023 by

As a business owner, setting up a separate bank account for your business must feature on top of your to-do list. Even though you may have a personal account, using it to care for your business finances can be a nightmare.

Apart from ensuring compliance with legal and accounting principles, a corporate bank account makes your business operations appear more professional and offers financial protection.

This guide covers everything you need to know about the importance of having dedicated company accounts.

What is a corporate account?

A corporate or company account refers to a bank account that’s opened in the name of a company. The account can receive business income and facilitate various business transactions.

Most leading banks and financial institutions across the globe support company accounts.

Opening company accounts may be mandatory for businesses depending on the laws and regulations of the country where you conduct business. In any case, opening company accounts for efficient management of business finances is highly recommended.

A word of caution — opening and operating company accounts shouldn’t be confused with corporate accounting. Corporate accounting is a specialized branch of accounting that deals with preparing a company’s financial accounts and cash flow statements.

How does a corporate account work?

A corporate bank account works in the same manner as any regular bank account.

You can use it to park any funds from your business and pay for various business expenses. You can also use the account to carry out online transactions.

Banks also issue checkbooks and debit cards to allow withdrawal from corporate bank accounts.

Are business accounts different from company accounts?

The term ‘business account’ is often used interchangeably with a corporate account.

Even though they may sound the same, there are a few differences between business and company accounts.

Who can open the account?

Any business entity is free to open a business account. It includes corporations, partnership, and sole proprietorship businesses, and limited liability companies.

However, only a corporation incorporated under the law can open a company account. Account opening should be backed by a corporate resolution passed by the company’s board of directors.

Independence of operations

Since corporate bank accounts are more formal, they can only be operated by a list of authorized signatories. The corporation holding the account can appoint the signatories by passing relevant board resolutions.

On the other hand, a business account usually operates as the personal bank account of the business owner though the account may be opened in the name of the business. The business owner can access the account directly without appointing other authorized signatories.

Liability to creditors

Since a company is recognized as a legal person, corporate bank accounts are not considered personal assets of the shareholders. As a result, only company creditors can attach them. The accounts cannot be used to meet unpaid personal debt obligations of any individual shareholder.

In contrast, a regular business account is considered a personal asset of the business owner, and personal creditors of the owner are free to attach them.

What are the benefits of having a company account?

The key advantages of maintaining a corporate bank account are as follows:

Lends credibility to your business

A proper company bank account signals to your investors, customers, and vendors that you are a legitimate business.

Promotes financial management

Corporate accounts make it extremely convenient to track your business expenses and keep the finances separate.

It helps you avoid personal liability

Separating business banking from your personal finances ensures you do not incur any personal liability for debts in your company’s name.

Fewer tax reporting issues

Maintaining a separate bank account for your business allows you to file accurate tax returns, as there are no overlaps between business income and personal income.

Better personal liability protection

As a corporate account holder, you won’t be held personally liable for any profit loss if your business fails.

A personal bank account doesn’t offer similar protection.

Boost the company’s credit rating

Without a corporate bank account, you need to rely on your individual credit score when you apply for any loans. Having a corporate account can boost the business’s credit rating and make it easier to obtain financial assistance for the company.

What are the differences between company accounts and personal bank accounts?

Here are the critical differences between corporate accounts and personal accounts:


A personal account can only have one or a maximum of two signatories, as the account is meant for personal use.

Company accounts can have several signatories.


The fees for opening and managing company accounts are higher when compared to personal accounts.


A company account is meant for paying business expenses and receiving business income.

A personal account is for paying personal expenses and personal parking funds.


A corporate bank account protects business owners from incurring any personal liability for company debts.

A personal account doesn’t offer any protection to the account holder. If the account holder is declared insolvent, creditors can attach the personal account to meet unpaid obligations.

What documents do you need to open company accounts?

As part of corporate account opening formalities, you must submit several documents to complete a KYC check.

While the exact checklist of documents varies depending on the banks and the country they are located in, here’s what you can expect:

  • Incorporation documents of the business, such as the certificate of incorporation, business registration certificate, and articles of association
  • Proof of business, such as financial statements or business plan
  • Proof of business address
  • A copy of the board resolution of the company authorizing the opening of the bank account
  • Identity proof documents, such as a passport or any identity card issued by the respective government of principal shareholders or beneficial owners of the company
  • Proof of residence of the principal shareholders or beneficial owners
  • List of signatories authorized to operate the business bank account

Always speak to the bank about the documents required to set up a new corporate account. Failure to submit relevant documents can result in the bank rejecting your account opening application.

Top tips for managing company accounts

Operating corporate bank accounts throw up unique challenges you may not encounter otherwise during banking operations. This is especially true if you are only used to operating a personal bank account.

Here are a few things company account holders should keep in mind for managing their accounts without glitches:

Be aware of introductory offers

Most banks offer a range of benefits to incentivize customers to open company accounts. These include higher interest rates, cash bonuses for preliminary deposits, and waiving maintenance fees for the first year, etc.

Ask each bank about their introductory offers to make an informed choice.

Check whether your deposits are insured

Ideally, you should open corporate accounts with financial institutions that insure the deposits. If the bank shuts down its business, you don’t risk losing all your hard-earned money.

In some countries, deposit insurance is mandatory for banks and financial institutions. For example, all licensed banks in Hong Kong offer insurance protection of up to HKD 500,000 per depositor.

Double-check the fees payable

There are various fees associated with company accounts, including monthly service fees and maintenance fees. It is also common for banks to charge an account opening fee or ask for a deposit in lieu.

Additionally, you may also need to pay transaction fees for ATM cash withdrawals and termination fees for shutting down your corporate bank account.

Banks may sometimes agree to waive the fees provided the account holder fulfills additional conditions, such as the bank’s minimum balance requirements.

Ask about additional services and benefits associated with corporate accounts

As a corporate bank account holder, you may receive additional benefits from your bank, such as access to an overdraft facility, pre-approved business loans up to a certain amount, mobile cheque deposit, and virtual assistance.

Depending on the nature of your business, you may be better off choosing a bank that offers more services and features to support your business banking needs.

Why is it critical for businesses to have company accounts? 

Regardless of the size or nature of your business, you should open a company account if you need a hassle-free way of receiving, managing, and remitting company funds.

Always consider the requirements of your business before you go ahead and open a business bank account.

If you want to incorporate a company in Hong Kong and need assistance with setting up your company account, get in touch with Air Corporate. Our experts can help you open a corporate account and suggest alternatives to traditional banks depending on the nature of your business.


What is the cost of opening company accounts?

Most banks charge an application fee for opening any type of account, including a corporate account.

The exact cost varies depending on the bank you approach.

Who can open a corporate bank account?

Usually, any business organization incorporated under the law can set up a corporate bank account.

Unincorporated business entities can consider opening a regular business account.

Who is the owner of company accounts?

Company accounts are opened by incorporated entities recognized as legal persons. Therefore, the corporation owns the account.

Offshore Company vs. Offshore Income: What You Need to Know

April 14th, 2023 by

Over the years, setting up an offshore entity has been one of the chosen ways for businesses to enjoy better asset protection and reduce their tax burden legally.

But very often, people tend to confuse an offshore company with offshore income. While offshore income is primarily a concept relevant to taxation, an offshore company is merely a structure for carrying out business.

Having said that, an offshore company may also benefit from favorable taxation laws regarding offshore income.

This article tells you everything you need to know about the two.

What is an offshore company?

An offshore company refers to a corporate entity incorporated outside the jurisdiction where the operations are primarily carried out, and the stakeholders reside.

The term offshore means something that is located outside or abroad.

Setting up such a company for business activities that comply with the law is perfectly legal.

Suppose you are based in Singapore and decide to incorporate a company in Hong Kong. In that case, your Hong Kong company will be an offshore company.

Similarly, if you are located in Hong Kong and decided to set up a company in Malaysia, it will be an offshore company.

While you can set up an offshore entity in a jurisdiction of your choice, some destinations work better than the rest due to attractive tax structures and corporate compliance requirements.

It is always better to evaluate the pros and cons of setting up an offshore company in the destination of your choice before you move ahead with the incorporation process.

A few pointers to keep in mind when you are considering incorporating an offshore company:

  • What is the purpose of your offshore company?
  • Do you want to set up your offshore company in a common law or civil law country?
  • Are there any restrictions on the type of activities your offshore company can carry out in the jurisdiction of your choice?
  • Is it easy for an offshore company to open a bank account in the country you are considering?

Features and benefits of setting up an offshore company

When you register an offshore company it’s important to understand factors that will be able to benefit you from setting one up.

Here are some of the key features and benefits of setting up an offshore company:

It can help you save on taxes

Reducing tax liability legally is one of the key concerns for business owners across the globe.

Typically, offshore structures are chosen for the attractive taxation regime of the country of incorporation.

For example, setting up a Hong Kong offshore company means that dividends declared will not attract taxes, making Hong Kong a preferred choice for doing business.

There is also no capital gains taxes in Hong Kong. This means no tax is levied on the profits from the sale or disposal of an asset unless facts establish that the disposal was in the nature of a trade.

Companies set up in Hong Kong that have operations generating profit outside Hong Kong don’t have to pay profit tax in Hong Kong.

It offers better confidentiality

Several offshore jurisdictions have strict privacy laws that prohibit government authorities and financial institutions from disclosing the details of company directors, shareholders, company bank accounts, etc., other than in exceptional circumstances.

This is especially beneficial for new players in the market who do not want their competitors to know about their operations or expansion plans.

Business owners enjoy better asset protection

When you park your assets in a different jurisdiction, you create a protective structure around them to prevent them from being seized due to frivolous litigation or seizures by the government.

For most business owners, setting up an offshore company is one of the preferred ways to safeguard their assets from creditors, attorneys, and plaintiffs.

Some offshore jurisdictions have debtor-friendly laws that make it easy to set up LLCs and trusts to protect the investor’s assets.

If someone wants to enforce a judgment passed against the investor in their home country and access their assets for setting unpaid debts, they would have to go through a circuitous path to get access to the offshore assets.

You enjoy relaxed corporate compliance

Corporate law regimes for some parts of offshore company jurisdiction are not strict in terms of taxes, which makes it easier to set up companies.

In some countries, there are no minimum paid-up capital requirements to be met. Offshore companies also have less stringent auditing and financial reporting obligations.

Moreover, some jurisdictions do not have any foreign exchange control regulations, making it easy to freely repatriate any income earned in those countries to any other destination.

Your assets can benefit from political stability

Setting up an offshore business can be a great move for asset protection, especially when if you find the chosen destination to be economically stable.

Carrying out business in a country engaged in civil war or facing a huge recession means constantly fearing external activities completely disrupting your business transactions.

What is a concept of an offshore income?

An offshore income refers to any income generated through activities performed outside your home jurisdiction.

For instance, if you’re a tax resident in that jurisdiction, this counts as offshore income.

Suppose you are a resident of the US and you have an offshore company in Hong Kong. Hong Kong tax laws levy a profit tax on only Hong Kong-source income.

So if you can demonstrate that the earnings of your company are through services rendered in the US, such income can be called offshore income.

Whether you can claim any tax benefits on your offshore income varies depending on the country where you set up an offshore company.

For example, suppose a Hong Kong company wants to claim tax benefits for offshore income. In that case, it should actively seek exemption when filing a profit tax return or obtain an advance ruling before commencing business activities.

Only if the Inland Revenue Department accepts the claim can a company benefit from the exemption.

So earning offshore income doesn’t mean it is automatically tax-free. You may still be taxed by your home country.

What are the factors you need to consider for offshore income?

If you want to take the tax benefits associated with offshore income, consider choosing a jurisdiction that follows a territorial tax system while setting up your offshore company.

Only such countries have tax exemptions on offshore income or foreign-earned income.

So, when you set up a company in a country with territorial taxes, you don’t have to pay any taxes on any income earned outside that country.

Another important factor to consider when selecting a jurisdiction with favorable offshore income tax laws is to see whether they have been flagged as a non-cooperative jurisdiction for tax purposes by the European Union.

The list, which has existed since 2017 and is updated regularly, identifies jurisdictions that do not have good tax governance in place to fight off tax evasion and avoidance.

Since such jurisdictions may change their tax regimes to comply with the EU requirements, businesses should not solely choose a jurisdiction for their offshore income tax treatment.

There is a possibility of such countries amending their tax laws to align with international tax standards, and one must evaluate the potential impact of the changes on their tax treatment.

For example, although, at present, only income sourced in Hong Kong is subject to profit tax, the Inland Revenue Department is in the process of updating the tax regime.

As part of proposed changes, dividends, disposal gains from shares or equity interest, interest income, and income from IP, which are foreign-sourced income, may be subject to profit tax:

  • When such income is received in Hong Kong; and
  • The relevant taxpayer fails to meet the requirements set out by the Inland Revenue Department

Bottom Line

Whether you want to reduce your tax burden, protect your assets, or enjoy better privacy, setting up a company in a foreign jurisdiction is a great option.

While there are several countries you can consider for offshore companies, make sure to pick one that meets your requirements. Don’t opt for the most popular destination.

If you’re considering Hong Kong for your next offshore venture, it can be an excellent choice for corporations looking for a new home for their business.

Get in touch with Air Corporate and let our experts help you start your offshore business in Hong Kong the right way.


When is it illegal to set up an offshore company?

It is illegal only when you intend to use the offshore entity to evade taxes or money laundering activities.

How long does it take to incorporate an offshore company?

The incorporation process varies depending on the jurisdiction you choose.

Typically, most countries offer a hassle-free process of setting up an offshore entity in a bid to attract more foreign companies.

For instance, you can complete the entire process of setting up a Hong Kong offshore company in just a few days.

I pay taxes in the country where I live. Do I have to file my tax return in the country where I have set up an offshore entity?

This depends on the tax laws of the country where you have set up the company. Always make sure to seek proper legal, tax, and accounting advice to stay in compliance with the law.

Best Business Accounts in Hong Kong

March 13th, 2023 by

Opening a bank account for your business is on top of your to-do list as soon as you register your business in Hong Kong.

Having a separate Hong Kong business account is necessary for most business structures and you cannot substitute your personal account for it.

But which bank is the best for opening a business account in Hong Kong? How do you distinguish between personal and business accounts? And can you open a corporate bank account elsewhere apart from a regular bank?

This guide tells you everything you need to know.

Difference between business accounts and personal accounts

The primary use of a business bank account is to help business owners hold and manage money that the business makes.

This includes paying various suppliers and employees, making tax payments, and receiving payments from customers.

There are various types of business accounts, such as:

  • Business checking account
  • Business savings account
  • Certificates of deposits account; and
  • Foreign currency accounts

On the other hand, personal accounts are meant for managing personal funds. You can use it for paying for any type of personal expense.

Why do you need a company bank account in Hong Kong?

Opting for a business account in Hong Kong has several advantages:

  • A business bank account lends credibility to your business. This is especially important when you are just starting in a new country.
    Having a separate account means your customers and clients can directly pay your business instead of routing the funds to your personal account. This makes your business appear more professional.
  • Business bank accounts offer tax benefits. The account holder doesn’t have to pay any tax on the earnings.
  • Most banks in Hong Kong allow you to open a multi-currency bank account that makes it convenient to hold, send and receive various currencies from one account.
  • Since there are no capital control laws in Hong Kong, you can freely transfer the deposits from your business account to accounts elsewhere in the world.
  • Having a distinct business bank account offers protection to your business assets. In case your business fails to repay its debts, the assets in your personal account remain untouched.
  • A separate bank account for your business makes it convenient to track expenses, keep an eye on your spending and avoid unnecessary expenditures.

Top 5 business bank accounts in Hong Kong

Choosing a company bank account in Hong Kong can be a task given that it is home to an extremely sophisticated banking and finance sector.

Here’s a roundup of the top 5 options you can consider:

1. Standard Chartered

Headquartered in London, Standard Chartered is a key player in the business banking services sector of Hong Kong.

Type of account offered:

It offers two types of corporate bank accounts: business and priority banking.

Both accounts support 11 major currencies.

Who can open an account?

To open a business bank account with Standard Chartered in Hong Kong, you should be one of the following:

  • Sole proprietorship
  • Partnership
  • Limited company; or
  • Owners incorporation

You are ineligible to open an account if your business is incorporated in a sanctioned country or operates in a prohibited sector.

How long does it take to open an account?

Can take several weeks to months

Minimum deposit requirements:


Account opening fees:

HKD 5,000

Currency conversion fees:

For receiving payments via telegraphic transfer, the fee is HKD 55. For outward telegraphic transfers, the fee is HKD 200.

2. DBS Bank

Headquartered in Singapore and the recipient of Hong Kong’s best international bank in 2022, DBS Bank is a top choice for businesses in the region.

Type of account offered:

It offers three types of business accounts :

  • Business Entrepreneur
  • Business Edge; and
  • Business Edge Preferred

All accounts support 14 major currencies.

Who can open an account?

Any limited liability company, partnership, or sole proprietorship business that’s incorporated and registered in Hong Kong can open an account. However, the business shouldn’t have any corporate directors or partners.

How long does it take to open an account?

Within 2 to 3 working days

Minimum deposit requirements:

HKD 10,000 but no deposit fees for the first three months.

Account opening fees:

HKD 1200

Currency conversion fees

No fees if you use DBS Remit, an online overseas transfer service from the bank.

Otherwise, you need to bear correspondent bank charges plus handling and cable charges of DBS Bank.

3. Statrys

A virtual Hong Kong business account is an excellent alternative, especially if you are looking for more features and perks compared to what traditional banks offer.

And a fintech such as Statrys fits the bill perfectly. It also supports the remote application process and you can complete all formalities online.

Type of account offered:

Multi-currency business account

Who can open an account?

Any company registered in Hong Kong.

How long does it take to open an account?

Usually, less than 3 days

Minimum deposit requirements:


Account opening fees:


Currency conversion fees

For sending payments, the fee is HKD 75.

For receiving payments, the fee is HKD 55.


As the largest bank in Hong Kong, HSBC is a good option for opening a business bank account. The HSBC business banking division has offerings for businesses in various stages of growth.

Type of account offered:

You can choose from three types of business bank accounts, namely HSBC Sprint, HSBC Business Direct, and HSBC BusinessVantage.

HSBC Sprint account is perfect for newly set up startups whereas Business Direct is more appropriate for growing SMEs.

For SMEs that have been around for a while, HSBC Business Vantage is a better choice.

Who can open an account?

HSBC allows all limited companies, partnerships, or sole proprietorships registered in Hong Kong and carrying out business operations in Hong Kong to open an account.

However, the business should not have any corporate directors or shareholders. But they should have up to 2 individual directors or authorized signatories.

How long does it take to open an account?

Within 3 days

Minimum deposit requirements:

  • Average account balance of HKD 50,000 for HSBC Sprint and HSBC Business Direct account
  • Average account balance of HKD 100,000 for HSBC Business Vantage

Account opening fees:

The fees vary depending on the type of business account you wish to open.

Typically, applicants need to pay HKD1,300 as account application fees.

The bank also levies additional fees for inactivity or account closure.

Currency conversion fees

You need to pay additional fees for any currency conversion.

It is usually HKD 65 for receiving payments and HKD 120 for sending payments to any other bank across the globe excluding HSBC bank in Mainland China.

5.Hang Seng

Hang Seng bank, partly owned by the HSBC group, is the second-largest retail bank in Hong Kong.

Type of account offered:

The bank offers two types of business accounts, depending on the type of business entity applying. These are:

  • Biz Virtual+ account for startups; and
  • Integrated Business Solutions account for established SMEs

Who can open an account?

The applicant can be an incorporated sole proprietorship, partnership, or limited company.

The applicant should not have any corporate shareholders and must meet the annual sales turnover requirement of the bank. The individual directors and authorized signers should hold HKID.

How long does it take to open an account?

Biz Virtual+ account: 3 business days

Integrated Business Solutions account: 5 business days

Minimum deposit requirements:

HKD 50,000 equivalent or above

Account opening fees:

The fees vary based on the type of business account you open.

Typically, for opening Biz Virtual+ account, applicants need to pay HKD 600 if they do it remotely and HKD 1200 if they do it in person.

For Integrated Business Solutions account, the fee is HKD 1200 for both remote and in-person applications.

Currency conversion fees

Charged based on the amount sent or received.

Bottom Line

Having a business bank account is the mark of a real business.

Deciding on which business account is best for your business depends on what you are looking for. Get a thorough understanding of your requirements before you shortlist an option.

To get a complete picture, also calculate the fees you would be paying for every cross-border payment.

If you want to avoid the complicated account opening process of banks, consider a fintech that offers a virtual account.

Get in touch with Air Corporate to set up a remote Hong Kong business account.


What documents do I need for opening a business bank account in Hong Kong?

Every bank follows its unique account opening process and the relevant documents for account opening may vary. Typically, they request the following documents:

  • Documents that prove your business is legally registered in Hong Kong such as your Business Registration Certificate or a Certificate of Incorporation
  • Identity and address proof directors and signatories; and
  • Documents that show business activity, such as a business plan

Can I open a Hong Kong business account remotely from abroad?

Every Hong Kong bank follows a strict procedure for account opening.

While you may be able to submit the documents online, you may still need to go in person to a branch to complete the formalities.

Only a fintech providing virtual business accounts in Hong Kong allows you to complete the entire process online from a remote location.

Proof of Address in Singapore: A Comprehensive Guide

March 8th, 2023 by

What is common between opening a bank account, applying for a new mobile phone connection, and signing up for an insurance policy anywhere in the world? You can successfully complete these activities only when you furnish proof of address along with your application form.

The situation is no different in Singapore — whether you want to live in Singapore for work or to study, you need local address proof for opening a bank account or applying for a utility. Even if you intend to carry on business in Singapore, a Singapore business address is a must to comply with the regulatory requirements.

So how do you go about gathering acceptable forms of address proof? Here’s a guide explaining what is an address proof document and what documents can you furnish in Singapore as proof of residence.

What is proof of address and why do you need it?

Proof of address is exactly what it sounds like — it refers to documentary evidence that shows you reside in a particular country.

Both public and private organizations, including government agencies, require this information when you fill up any official forms and use it as a safeguard against any fraudulent activity.

Moreover, it also helps to identify whether the applicant resides in a country with extensive sanctions. For example, the Office of Foreign Assets Control (OFAC) of the US Treasury Department maintains a list of sanctioned countries and prohibits any financial transactions with such counties without prior permission.

While it is impossible to create a comprehensive list of acceptable documents one can use to provide proof of residence, as a thumb rule, most organizations request documents that cannot be falsified easily or obtained dishonestly.

Why do banks need proof of residence?

In the case of banks across the globe, proof of address forms part of the ‘know your customer’ (KYC) documents.

Over the years, the incidents of applicants submitting fake documents to open accounts have shot through the roof. Typically, account holders carry out illegal activities through them. So when you open a bank account, banks have a legal obligation to ask for all KYC documents to verify that you don’t intend to open an account for carrying out any illegal activity such as money laundering or financing terrorism.

In other words, banks need to verify that you are really who you say you are. Documents such as address proof and ID proof make it easier to conduct this check.

Depending on the jurisdiction they operate in, each bank has a list of documents that are acceptable as proof of address. But what may work as proof of address in one country may not work in another. Even the KYC processes followed by different banks in the same country vary.

That’s why it is important to understand what qualifies as proof of residence in a particular country where you need to furnish it.

How to obtain proof of address in Singapore?

Proof of address in Singapore is your residential address within Singapore.

The document for residence proof in Singapore should have your full name and the address where you are currently residing. To get proof of address, you can contact the relevant organization, depending on the type of document you want.

For instance, if you want to furnish your utility bill as proof of address, you can apply for a physical copy of the bill from the relevant utility company. But ensure it is a recent bill, preferably issued within the past 3 to 6 months.

Usually, the organization you are applying to provides detailed instructions on how to go about the process. So if you live where you claim to live, it is relatively painless to obtain proof of residence.

What are acceptable documents for proof of address in Singapore?

Here are a few documents that are usually acceptable as address-proof documents by most organizations in Singapore:

  • NRIC card of Singapore residents or Permanent Residents
  • Utility bills, no older than 3 months (some organizations may accept utility bills that are no older than 6 months)
  • Credit card statement or bank statement
  • Letter issued by your employer or the institution where you are studying
  • Letters issued by the Central Provident Fund Board & Inland Revenue Authority of Singapore, preferably within the last 1 year
  • Letter from a public authority such as a court
  • A valid passport with an address verified by the Immigration Authority
  • Letters or bills from other government agencies such as Land Transport Authority or Town Council, if issued within a certain time frame
  • Tenancy agreement bearing signatures of both landlord and tenant and no older than 1 year
  • A mortgage agreement that’s no older than 1 year

Make sure to confirm with the relevant organization whether a particular document will work as proof of address. Also, keep in mind that acceptable documents may also vary depending on whether you are filing a form or applying for something online or in-person.

Do businesses need a separate proof of a Singapore business address?

The business address refers to the place from where you carry out your business. If your business is a sole proprietorship or if you have business partners, your home address can serve as your Singapore business address.

This is different from a registered office address which refers to the place where a company’s registers and records are available and communications and notices to the company can be sent/received.

As per the Accounting and Corporate Regulatory Authority of Singapore, at the time of registration of a new business in Singapore, it is mandatory to provide the home address of all business owners and company officers by furnishing any of the acceptable documents for proof of address.

Please note that a P.O. Box address cannot serve as a Singapore business address or registered office address. If you are setting up a local company, you need a lease a physical office space.

What documents are not acceptable as proof of address in Singapore?

Typically, most organizations are reluctant to accept the following as proof of address, especially if they are furnished alone without any supporting document:

  • Any identity card issued by any organization without any supporting document
  • A commercial address
  • A proof of address that is past its validity period, as indicated by the organization providing it
  • Invoices for purchasing any goods
  • Pension agreements
  • Any document that indicates your residence at a different address
  • A library card issued by your university or college
  • Driver’s license
  • Photocopies or printouts of certain documents

What documents can a foreigner provide to prove residency in Singapore for opening a bank account?

Banks in Singapore require every applicant to mandatorily furnish documents that include their current residential address to process their account opening application.

If you are not a Singapore national or a Permanent Resident, here are a few documents you can furnish to satisfy the bank’s requirements:

  • Letter from your employer or the institution where you study
  • Ministry of Manpower’s In-Principle Approval issued to migrant workers
  • Certificate of stamp duty
  • Local utility bills

If you are a foreign business that wants to set up a subsidiary in Singapore, any document that is acceptable as address proof of your local director can help you to open a corporate business account with a local bank.

What happens once you submit the address proof document?

The verification process starts once you furnish an acceptable document. The exact procedure varies depending on the entity to which you submit a document.

Most banks may initiate an automatic check to verify whether you reside at the address provided. It includes confirming the name on the document and determining whether the address in the document actually exists.

If you provide a document that is only valid for a specific time frame, the bank may also confirm whether the document furnished complies with the timeline prescribed.

In case any information doesn’t match up, you may not be able to prove residency. So double-check all the details before you proceed. In the event of any address change, promptly inform the relevant entity so they can update the record to reflect your new address.

Wrapping up

If proof of address is what’s holding you back from setting up a business in Singapore, get in touch with Air Corporate right away.

Our experts can provide you with all the information you need and help register your business in Singapore in a hassle-free manner. We also take care of the business account opening procedure and guide you about the documents you need to furnish.

So leave your worries aside and sign up with Air Corporate before you take the plunge.


1. I am a foreign company. Can I use my virtual office address as proof of business address in Singapore?

Your virtual office address is insufficient as address proof of your business.

Even though Singapore laws allow you to open a virtual office, a valid registered office address is mandatory, which doubles up as proof of business address. This is a physical location where company records are available for inspection.

2. Can geolocation data work as address proof?

Currently, most regulators in Singapore and elsewhere are reluctant to admit GPS data as address proof, even though it is a faster and more efficient way of gathering information.

Since the Finanсial Action Task Force (FATF) has pressed on the need for accepting geolocation-based proof of address, it remains to be seen if regulators warm up to the idea in the future.

Top 6 Countries to Consider for Offshore Bank Accounts in 2023

February 17th, 2023 by

Most people associate the term ‘offshore bank accounts with multinational corporations or ultra-rich millionaires carrying out illegal activities such as evading taxes.

In reality, though, offshore bank accounts are a completely legal and valuable way to take care of financial commitments spread across jurisdictions.

So what are the benefits of having a bank account offshore? Do you need to set up an offshore company before you can open an offshore account? And most importantly — which is the best destination for opening such an account?

This guide answers all your questions and also rounds up the 6 hottest destinations for opening offshore accounts in 2023.

What is an offshore bank account?

When you open an account in a country where you don’t live, it is known as an offshore bank account.

For instance, if you live in the UK but open a bank account in the US, it counts as an offshore account.

An offshore company also needs such accounts when carrying out business activities in different countries.

Say, your company wants to do business in Singapore but the company’s principal investors reside in Malaysia. In that case, opening an offshore account in Singapore can help to send and receive payments in Singapore Dollars.

What is the use of an offshore bank account?

Offshore accounts are used for a variety of reasons, including:

  • Holding and receiving payments in multiple currencies;
  • Reducing your business tax liability;
  • Protecting your investments and assets in a foreign jurisdiction; and
  • Enjoying privacy and security

Is Offshore Company Incorporation Mandatory to Open an Offshore Account?

Setting up an offshore company is only not the only way to start your offshore account.

As a parent company, you may incorporate an offshore company to enjoy tax benefits and a better regulatory regime. But there are various other reasons why you should have an offshore company.

If you hold investments in a foreign country in an individual capacity or spend a part of the year living in a different country or even provide financial support to someone who lives overseas, you are eligible to open such bank accounts.

Why Choose an Offshore Bank Account?

These accounts make it incredibly easy for their holders to manage financial obligations across countries. One can also benefit from attractive tax incentives that come with maintaining accounts in a different country where the tax system is relaxed.

Offshore account holders earn higher interest rates on deposits when compared to deposits in domestic accounts.

What to consider when choosing a destination for your offshore account?

There are a few things to keep in mind before you decide on your destination.

These include:

  • The economic and political conditions of the country
  • Ease of setting up the bank account remotely
  • Availability of internet banking facilities
  • State of banking infrastructure and privacy laws
  • Flexibility to sign up for a multi-currency account
  • The reputation of the financial institution
  • Requirement of making a minimum initial deposit
  • Fees payable for making international transfers

Which Countries are Ideal for Setting Up an Offshore Bank Account?

There are several countries that allow you to set up an offshore bank account. Most are known for their business-friendly laws and economic stability.

Here is a list of the top 6 countries to consider, if you are on the lookout:

1. Switzerland

Switzerland is a popular choice for opening offshore accounts for several reasons.

Swiss banks and financial institutions are bound by strict confidentiality and privacy laws that forbid them from sharing any information regarding someone’s account without consent.

A Swiss bank is not at liberty to share whether a person even has a bank account unless the account holder consents. Illegally disclosing information attracts heavy penalties and a six-month jail term for Swiss bankers.

Swiss markets are tightly regulated which means investors face a low financial risk and better wealth protection.

Switzerland also has a very strong economy and is the most politically stable country in the world, which are added incentive for an offshore company.

2. Hong Kong

If you are looking at the Asia Pacific region for opening offshore bank accounts, Hong Kong is an excellent choice.

Regarded as a leading financial center in the world, Hong Kong offers several advantages to its foreign banking customers.

75 out of the 100 largest banks in the world have a presence in Hong Kong. These banks offer a wide array of financial services to suit the needs of foreign companies.

Even though the banking sector is strictly regulated by Hong Kong laws, there are no restrictions imposed on the outflow or inflow of funds out of Hong Kong bank accounts.

Foreign entrepreneurs can open a corporate bank account in Hong Kong without being present in person — the entire procedure can be completed online. All you need is a local registered address of your company and relevant documents.

Banking firms in Hong Kong are also bound by confidentiality obligations that prohibit them from disclosing customer data.

Lastly, Hong Kong has an efficient legal system and offers various tax relief measures that attract foreign entrepreneurs to set up offshore companies. And thanks to Hong Kong’s strategic location, an offshore company also enjoys direct access to the Chinese market.

Not sure how to go about company registration in Hong Kong? Check out this handy guide to setting up an Offshore company in Hong Kong.

3. Cayman Islands

Apart from being a popular tropical destination, the Cayman Islands is also a preferred choice when it comes to offshore banking.

Cayman is a politically stable country with excellent offshore banking facilities which include investment and estate management services.

It is also a tax haven where account holders have no liability to pay any taxes including capital gains tax, dividend tax, income tax, property tax, or company tax. Foreign investments are not subject to any exchange control laws allowing the free movement of funds in any currency.

4. Germany

Germany is a popular foreign banking destination if you are looking at Europe.

As one of the stronger economies in the European Union, Germany is strict about regulating their banking system. German banks occupy the fourth position in the list of the top ten safest banks across the globe, thanks to the safety protocols in place.

The economic stability in the country also makes it a secure destination for parking your funds. Plus, most German banks follow a remote banking system that enables you to open your offshore account without being physically present in Germany.

5. Belize

Belize is considered a premier destination for opening offshore bank accounts.

Banks in Belize are known to offer the highest interest rate compared to what is offered by international banks elsewhere. The account of an offshore company is exempt from any exchange control laws.

The country also has a politically stable environment which is a critical factor for anyone transacting in offshore jurisdictions.

Exemption from the local tax system used to be a major pull for setting up an offshore company and its account in Belize. But due to pressure from Organization for Economic Co-operation and Development, several favorable tax practices have been discontinued.

6. Singapore

Regarded as one of the best places in the world to do business, Singapore is a hot favorite when it comes to offshore banking.

Singapore’s government closely regulates the banking system, which makes it extremely secure and stable. Banks provide an array of services to choose from, including financial advice, tax planning, and investment management.

It also offers a stable economic and political environment, which makes it easy for a Singapore offshore company to carry out its business activities.

But Singapore offshore companies may find it challenging to set up an account completely remotely as several banks need the account holder to be present in person.

A newly incorporated company also needs to provide a business plan and demonstrate business interests as part of the account opening procedure.

Final thoughts

Setting up a bank account in a foreign jurisdiction can ease the operations of your offshore company and help it thrive.

But choosing the best destination for account opening depends on what works for your business as there is no one-size-fits-all solution.

Want to set up an offshore bank account in Hong Kong? Register with Air-Corporate today. We can set up your offshore company in Hong Kong which includes access to a remote business account.


Is it legal to set up an offshore company?

Incorporating an offshore company is completely legal, as long as it doesn’t engage in any illegal activity.

So the first check should always be — is your offshore company legal?

Is it illegal to open an offshore account?

Offshore bank accounts have been historically associated with money laundering and tax evasion.

But opening an offshore account is a perfectly legal activity, as long as you comply with the legal regulations of your home country and the country where you open your account.

It is only illegal if the account is opened for tax evasion or money laundering.

How to open offshore bank accounts?

The exact procedure depends on which international bank you approach.

Typically, most banks will need your identity documents and also understand the source of your funds to open your account.

How to withdraw money from offshore bank accounts?

Usually, banks provide internet banking facilities and also issue a debit card that allows you easy access to funds, no matter where you are.

Pros and Cons of Setting Up an Offshore Company

February 21st, 2022 by

Offshore companies are business entities created outside of the jurisdiction of the United States. They can be used as an effective tool for avoiding taxes and regulations. They are also used by criminals to launder money and avoid prosecution.

Offshore Companies Pros

1) Tax-Free Income

An offshore company is a legal entity that does not have any physical presence in the U.S. This means it cannot pay taxes or file tax returns, so all its profits are passed on to shareholders without being taxed. The only income that may be subject to taxation is dividends from foreign subsidiaries.

2) Low Cost

Setting up an offshore company is cheaper than opening a traditional bank account. You do not need to open a checking account with a $10,000 minimum balance for example. Most of the time, the tax-free income alone makes it worthwhile to register in another country.

3) Privacy

You own your company’s records; they are stored off-site, out of reach of the IRS. There is no way to link you to the company if there is ever a problem.

4) Asset Protection

You own everything about your company – its name, address, bank accounts, employees, etc. No one has access to them except you. If something happens to your company, you lose nothing but time.

5) Ownership Flexibility

You can change the ownership structure whenever you want. For example, you might decide to sell your shares to another person after two years, when their credit score improves.

6) Limited Liability

If you set up an offshore company in Panama, you won’t face personal liability for debts incurred by the company.

7) Business Opportunities

An offshore company is an excellent way to start your own business because you don’t need to worry about complying with complicated local laws. It doesn’t matter where you live, since the company will operate legally anywhere in the world. However, speaking outside of just taxation, why not utilize the benefit of the offshore

However, keep in mind that offshore companies come with some disadvantages too. Generally speaking, the Cons will differ in a case-by-case situation.

Offshore Company Cons

1) Double Taxation

The country where the company is registered will impose corporate income tax on its worldwide income. In addition, the company will be required to report its worldwide income on its home country’s tax return.

2) Complexity

The process of setting up an offshore company is more complex than establishing a regular corporation. It requires registering the company with the local government, finding a lawyer, and filling out numerous forms.

3) Compliance Costs

In order to comply with various rules and regulations, offshore companies incur extra costs. These include filing fees, annual accounting fees, and other administrative expenses.

4) Reporting Requirements

Companies must file reports with local governments and financial institutions such as banks. Failure to comply could result in fines or even imprisonment.

5) Lack of Control

Once the company is established, you have little control over how it operates. Any decision made by the board of directors becomes final.

6) High Fees

Fees charged by lawyers and accountants can add up quickly. However, these services are necessary for running a successful offshore company. There are some exceptions where governance aspects of your offshore company can be handled by legal entities such as Hong Kong’s company secretaries which handle all your corporate reporting to the government even if the company is not in Hong Kong.

7) Lack of Transparency

As mentioned earlier, offshore companies don’t have to disclose anything about their owners or operations. They also don’t have much information available online.

8) Non-Resident Status

Non-residents aren’t eligible to serve on the boards of directors of offshore companies. This means that non-resident shareholders may find themselves excluded from important decisions affecting the company.

9) Poor Reputation

Some people believe that offshore companies are used by criminals to hide money or avoid paying taxes. Others think they’re only useful for hiding assets.

10) Lack of Support

Many countries offer limited support for offshore companies. For instance, there are no reciprocal agreements between most countries and offshore jurisdictions like Bermuda, British Virgin Islands, Cayman Islands, Curacao, Isle of Man, Jersey, Malta, Netherlands Antilles, Panama, Seychelles, Singapore, Switzerland, USA, etc.

11) Limited Liability Protection

If you run into any problems while operating your offshore company, you won’t be able to sue anyone but yourself. You’ll lose everything including your personal possessions.

12) You’re Liable for Money Taken Out

Setting up an offshore company doesn’t provide any savings since you still pay tax on your worldwide income. If you want to reduce your global tax burden, you should consider establishing multiple companies instead of one offshore entity. Once you move money out of an offshore location, you will be liable for that income in your home country.

13) Difficult to Operate

The process of setting up an offshore company involves many steps so it might take months before you see results. It requires a lot of time and energy especially if you decide to do it yourself.

14) More Complexity

Offshore companies come with more complexity than domestic corporations. In addition to complying with foreign law, you must comply with foreign tax authorities. Even if the offshore location offers great or even no tax incentives, you still need to report to this country’s tax regime annually.


An offshore company allows you to receive benefits like privacy, confidentiality, asset protection, and ownership diversification without being subject to taxation or financial disclosure. The trade-off is that offshore companies incur fees, costs, and other cons.

However, if you plan to incorporate offshore, then you should know about the pros and cons of incorporating offshore. Every location and jurisdiction is different, and it’s difficult to really know the true efficacy of an offshore company for your business.

Hong Kong is one of the most popular offshore jurisdictions for a lot of companies. If you’re interested in weighing Hong Kong as an option, contact us for more information and one of our experts will walk you through Hong Kong as an offshore incorporation option.

10 Best Countries for Opening an E-Commerce Business

January 6th, 2022 by

The global e-Commerce market is experiencing rapid growth as global sales are expected to hit $4.891 trillion, marking a 14.3% increase in the previous year.

Many countries have been significantly contributing towards this market growth. 

The e-Commerce explosion is largely attributed to the rising use of mobile devices worldwide.

Without the use of mobile applications, consumers and businesses would not be able to buy and sell over the internet so easily.

Now is the best time ever to take your e-Commerce business to the next level as you can now benefit from more advanced technology, streamlined cross-border shipping, and logistics.

A study conducted by eMarketer has estimated that the Asia-Pacific religion will produce over $4 trillion in e-commerce sales by 2024, which will make up nearly 65.9% of the global market e-Commerce sales.

1. China

China is currently the world’s largest e-commerce market, contributing to nearly 52.1% of all e-commerce sales worldwide.

China has the biggest portion of global e-Commerce size and sales, but it also has quite a dominant leader as the largest e-commerce market in the world, outranking e-Commerce transactions in the United States, Germany, France, Japan the United Kingdom combined. 

One of the main reasons why the e-Commerce market is thriving in China is due to the country’s leading manufacturing industry, logistic infrastructure, and government support.

Internet usage has also dramatically increased amongst the Chinese population as the country currently has more than 800 million users.

Moreover, these 800 million internet users prefer online shopping as more than 70% of China’s internet users had made an online purchase in 2018.

China is also home to the e-commerce giant Alibaba, which has developed efficient systems and networks to process online orders and delivery.

Alibaba has a huge network of delivery which allows the company to process up to 30 million items each day.

2. Japan

Japan is one of the largest and fast-growing e-Commerce markets globally, contributing to the global growth rate of the e-Commerce market by 29%.

The Japanese e-commerce market generated total revenue of US$114 billion in 2020, putting the country right behind the United States. 

The e-Commerce market in Japan has been traditionally dominated by business-to-business transactions.

However, there has been increasing growth in online sales of physical goods within the business to the consumer market.

The consumer-to-consumer market is also expected to grow as demand for digitally distributed services such as travel tickets continuously increases.

JP Morgan has also estimated that e-Commerce sales in Japan will continue to expand at an annual growth rate of 6.2%, and the total market revenue is expected to reach $143.297 billion by 2025.

Japan has constantly been ranked as one of the top 5 largest e-commerce markets in the world due to its rapidly growing developed economy, urbanized population, and high internet penetration rate, which applies to both the younger and older population.

Japan’s top three e-Commerce platforms include Rakuten, Yahoo! and Amazon

3. Singapore

Singapore has a high tax rate and a requirement for a resident director for a company that can serve as a disincentive to start an e-Commerce business.

However, many other aspects make Singapore a rapidly growing financial hub in South East Asia where the e-Commerce gross merchandise value is expected to double to US$ 254 billion, according to the Sync Southeast Asia Report

There are many opportunities to gain investment from venture capitals in Singapore which incentivize setting up an e-commerce business in the country and has contributed to the boost in the e-Commerce market value.

Another way business owners are benefiting is through the exemptions that may apply to their company depending on its size and revenue, which can lower the corporate tax rate down to 0%.

4. South Korea

South Korea is among the largest e-commerce markets in the world, powered by a population with a 92% internet usage rate.

During the Covid-19 pandemic, GlobalData’s E-Commerce Analytics reported that over lockdown, the number of e-commerce transactions increased by 22.2% in 2020 and are expected to grow in the following year by 25.4% in 2021.

The largest e-Commerce market segments are fashion, sporting goods, toys, cosmetics, and DIY products.

South Korea is also considered one of the top 10 business-friendly and technologically advanced economics globally, which makes starting an e-commerce business in the country an extremely easy and profitable business venture.

5. Hong Kong

Hong Kong has a thriving online market where the market volume for an e-Commerce business is expected to stand at approximately US 11 million by 2025.

You can benefit from many opportunities by opening an e-Commerce business in Hong Kong as you also have access to Mainland China.

Hong Kong is one of the world’s leading digital cities makes it a great place for e-Commerce as the population is heavily dependant on technology and online shopping. 

The country also offers a favorable tax system to relieve a huge financial burden in terms of taxes as Hong Kong is a highly popular low-tax jurisdiction

Moreover, the country also has a strong logistic infrastructure to meet the increasing demand for online transactions.

This includes highly developed transportation systems, supply chains, and warehousing, ensuring secure storage and easy order shipments.

Lastly, Hong Kong has an extremely easy company incorporation process which is a huge convenience compared to other jurisdictions.

All you need to do is upload the correct documents and fill in the necessary information on the online application to start your e-commerce business.

6. United States

The United States has been a strong contender in the leading countries for e-Commerce and currently stands as the second largest e-commerce market in the world powered by online giants like Amazon and eBay.

As the most developed market for online shopping, engaging in online commercial transactions to purchase goods and services is a norm for American consumers. 

The US is known for its business-friendly environment due to lower-income and corporate taxes, which act as a huge financial incentive for those looking to start an eCommerce business.

Saving up on taxes allows e-Commerce business owners a bigger budget to invest in new software programs and website development to take their online business to the next level.

Some of the leading American e-Commerce platforms by monthly traffic include Amazon, eBay, Walmart, Etsy, Home Depot, Target, Lowe’s, and Best Buy.

7. Canada

Canada is considered a great place to start an online business as it offers an efficient tax structure, making it easier for businesses to become more profitable.

Due to Canada’s increasingly digital population, the country has become a profitable market for those looking to set up an e-Commerce business.

In 2021, there were approximately more than 27 million eCommerce users in Canada, making up almost 72.5% of the Canadian population.

This percentage is expected to grow to 77.6% in 2025. 

These figures highlight the number of profitable opportunities there are within the Canadian e-Commerce market, which is currently dominated by electronic and media products.

The biggest e-Commerce platforms in Canada include Amazon CA, Walmart Ca, and Costco CA, which generate a combined revenue of US$ 1.6 billion and control 40% of the online market.

8. United Kingdom

The United Kingdom is considered one of the top three e-commerce markets globally.

Its annual sales reach $99 billion, which is nearly 14.5% of the total e-Commerce global retail sales.

Popular e-Commerce businesses include Argos and Amazon UK, where the leading product categories range from travel, fashion, sporting goods, and household items.

Moreover, the company incorporation process is also extremely affordable, easy, and convenient compared to other countries.

Incorporating an e-commerce business is particularly suitable for non-residents who do not carry out their business activities in the UK as they benefit from the favorable tax system. 

Regardless of the size of your e-Commerce business, the UK is still an attractive option.

There are multiple e-Commerce platforms where small e-Commerce businesses have become extremely popular.

These include Amazon Marketplace, Depop, eBay, and Not On The High Street.

9. Switzerland

The UNCTAD’s Business to Consumer (B2C) E-commerce Index 2020 has reported that Switzerland has replaced the Netherlands and has secured the highest place amongst 152 countries in their readiness to engage in online commerce.

This is attributable to 97% of the Swiss population using the internet in 2019, making Switzerland the only non-European economy amongst the countries with the highest internet usage. 

The E-Commerce Report Switzerland 2020 further highlights that the country is experiencing a strong internet shopping trend as nearly 10 billion Swiss francs were spent online in 2019.

The study anticipates further growth in the years to come.

As the 21st largest e-Commerce market by size and a country quite well-known for its high internet penetration, the revenue generated from the e-commerce market is projected to reach nearly USS 11.6 million in 2021 and is experiencing an annual growth rate of 6.85%.

10. Germany

Germany is another top contender within the e-Commerce market, especially within Europe.

The country offers competitive shipping options that contribute towards business growth and development.

Annual online sales in Germany are estimated at $73 billion, making up 8.4% of the global e-commerce retail sales.

The country is also experiencing a 5.4% growth rate which is skyrocketing its projected revenue.

The leading products within the German e-Commerce market include fashion, electronics, and media.

Final Words

The global e-Commerce market is a testament to the increase in business innovation, technological advancement, and increased dependence on technology to carry on our day-to-day activities.

This provides a major opportunity for those looking to start an online business as the potential for profit and growth is huge.

The Complete Guide to Starting, Growing and Managing a Remote Business

November 15th, 2021 by

Remote businesses have become extremely popular. COVID-19 made it even necessary in some areas.

Not only are they a good option for employees but the business owners as well.

More and more people prioritize setting up their own remote businesses as it gives them more control and flexibility over their lives.

This article provides a complete guide to starting, growing, and managing a remote business.

What is a remote business?

A remote business is one where you work from here.

This working arrangement offers you flexibility as both you and your employees can work from home or anywhere else in the world.

While some businesses can work from home or come into the office, remote businesses have no corporate office and are run completely online.

To run and work for a remote business, all you need is your laptop and a good internet connection.

Why should you start a remote business?

More Cost-effective

There are many ways remote businesses save money compared to other businesses.

Remote businesses have lower startup costs as there is no rent to pay for office space, utilities, furniture, office supplies, cleaning services, food, and other workplace necessities.

It is also more cost-effective for the employees as they do not have to spend money and time commuting to the workplace.

Again, this aspect saves businesses more money as they no longer need to arrange their employees’ commute.

Improved Quality of Life

Remote working has now become extremely important for employees as they control their own work environment.

This increases their satisfaction and productivity levels as they work comfortably from their home and not from a busy office which can sometimes be distracting.

With absolutely no commute, employees get more sleep and are more energized when they get to work.

From a business perspective, if you have happier employees, you have a team that works well together and works more productively.

Better Talent

Remote businesses have access to a wider talent pool as they are not limited to hiring employees from a specific geographical location.

Therefore, remote businesses benefit from accessing a broader range of candidates who may better fit the company than local candidates.

Reduced Carbon Footprint

In today’s socio-political climate, organizations are under extreme pressure to reduce their carbon footprint and become more environmentally friendly.

It may be difficult for a traditional firm to switch to remote working and do so, so starting a remote business and avoiding that transition period is a huge advantage.

Since there is no office to commute to, a significantly lower amount of greenhouse gases is being produced as a remote business.

How to Start A Remote Business

Starting a remote business is a simple and easy process.

After looking at some of the benefits of starting a remote business, here is what you need to do to get started:

Generate a Business Plan

The first step is to outline a business plan. You need to understand what your business does clearly, the services or products it offers, how it makes money, and its goals.

You need to have a step-by-step plan in place on how you wish to achieve your goals.

Your business plan should also identify clear key performance indicators (KPIs) and any issues you think the business will potentially face.

A good business plan is crucial, as this is what potential investors see when they consider which businesses to invest in. 

Get a Virtual Business Address

You will need a business address when you register your business.

This allows you to receive business emails and set up a business bank account.

Since you have a remote business and there is no office, you can use your home address.

Alternatively, suppose you wish to keep your personal information separate from your business.

In that case, you can use a virtual business address through a mailbox service.

Register the Remote Business

After getting a virtual business address, you will need to register your remote business.

Here is where you decide the business name, choose an appropriate business structure depending on how much tax you want to pay, and to what extent you want to be held personally liable. 

If you want to learn more about registering a business in Hong Kong, you can look at our article here.

Funding & Managing Costs

Although remote businesses have lower startup costs than regular businesses, a few costs still need to be managed.

This includes website development, website management, marketing, legal fees, insurance, and technological tools.

Remote businesses also come with their own distinct expenses depending on their policies and employee benefits.

If you wish to provide your employees with work laptops and phones, this will be an extra expense.

Additionally, depending on how you want to manage your business, the type of software you use to manage your teams is also an expense.

You could also think about how you can get funding for your remote business through business loans, crowdfunding, or angel investors.

Develop a Marketing Plan

It is extremely important to have a strong marketing plan regardless of your remote business’s type of service or product.

Most remote businesses and startups become unsuccessful as they do not have an audience due to poor marketing.

Firstly, you will need to identify a target audience that will benefit from the product or service you are providing.

Secondly, you need to identify who your competitors are within the market so you can start focusing on setting yourself apart from them.

A good marketing plan outlines the target audience and the steps the business takes to connect with that audience to increase its sales.

Create a Remote Work Policy

The key to a successful remote business is a good remote work policy.

Any disorganization or lack of communication can lead to huge delays.

It would be best if you outlined your expectations from employees in terms of their communication, availability, timings, and responsiveness so every employee can be easily accessed when needed despite working from different locations.

Remote work policies also cover requirements and guidelines for data protection, minimum working hours, and set targets. 

Other policies to consider when setting up a remote business include the employee code of conduct policy, employee disciplinary action policy, Bring Your Own Device policies, compensation and benefits policy, travel policies, work schedule policies, and employee complaint policies.

Such policies are important to keep employees and management accountable for their actions, ensure that the business is compliant with all legal requirements, and, most importantly, the expectations of the remote business.

Once Your Remote Business is Set Up

Hiring Remote Employees

Once you have successfully set up a business and created a remote work policy, you can start hiring and finding a team to run your business.

Based upon the nature of your business, you will need to list the roles that need to be filled for the business to operate smoothly.

Once you have identified the roles, you need to think about the skills, competencies, and qualities required from a candidate to perform each role’s duties successfully and responsibilities.

After identifying the type of candidate you are looking for, you will need to write the job descriptions for each role.

Therefore, a job description reflects the company and needs to be written extremely well to attract the right candidate.

You will also need to think of a recruitment process to consider and test each applicant carefully.

After doing so, you need to post your job description on your website or any other job board to advertise the opening.

Develop a Smooth Onboarding Process

When you’ve found the right candidates for your business, you should make sure to have a smooth virtual onboarding process.

Usually, employees find onboarding easier to build relationships in person, which is why you need to make even more of an effort virtually.

To do so, you will need to have all cameras on to create a more ‘face-to-face’ environment and communicate effectively.

This may also include having one-on-one meetings to ensure that each new employee is valued and understands company processes.

Additionally, you should also set up a remote working support group or helpline where the employer can address all concerns regarding onboarding.

It is important to have extra support available. 

Integrate Technology

If you truly want to grow your remote business, you may need to think beyond using Microsoft Office 365 and Zoom.

You may want to consider integrating project management tools or practice management systems to streamline your business functions.

Project management tools such as Trello allow you to keep track of your projects remotely by allowing you to assign tasks, set due dates, and manage the overall progress of each project.

Other popular project management tools include Monday, Basecamp, and Wrike

Additionally, you could also use video conferencing and chat platforms such as Slack to improve internal communication.

Lastly, suppose the nature of your business involves dealing with confidential information and personal data.

In that case, it is recommended to integrate some level of cybersecurity into your business data management to add an extra layer of protection from hacking or data leakages.

Conduct Regular Reviews

It may be hard to keep track of projects remotely, which is why you should conduct regular reviews with your employees.

This ensures that you are up to date with how work is progressing and provides you with an opportunity to see how your employees are feeling and if there is anything you can do to support them.

This regular interaction ensures that your employees feel valued and encourages them to be more productive and continue with the business.

Final words

Although the process of starting a remote business is quite simple, there are many factors you need to think of before you begin operating your business.

This is exactly why you need to break down each step and carefully analyze what needs to be done so you can start your business smoothly without any disruptions.

10 Remote Business Ideas that Only Need WiFi

October 12th, 2021 by

Remote businesses have been thriving long before the start of working from home due to the pandemic.

The reason behind their popularity is that they allow business owners to have a better work-life balance, cut their operational costs, generate more profit, and most importantly, allow them to work comfortably in their own environment.

If you are thinking of starting a remote business, this article is for you!

What is a Remote Business?

Before delving into a remote business, we first need to understand what remote working is and how it works.

Remote working is working from home, away from the employer, and outside the office.

In situations where people remotely work, they don’t have to commute to their jobs or sit in an office building all day waiting for the clock to strike five and leave.

There is no central workplace where the employee is located.

Most of the time, remote working means working from home. 

This style of working has developed and become more common since the advent of the internet.

Technological advancements throughout the years have also opened a much bigger network for remote businesses.

In today’s world, we conduct most of our meetings online, over the phone through calls and text messages or emails, allowing employees to work efficiently from their positions, even if it is from their couch.

With the pandemic’s last longing effects, remote businesses are increasingly popular and, in some cases, the best option. 

Presently many individuals in society are getting on board with the idea of remote businesses.

This growing interest is because working from home allows people to live a much more comfortable life due to a personal and familiar work environment.

They tend to have a better work-life balance, and they do not have to spend their income on any travel costs.

Although you are working from home and might not have access to the resources an office environment provides, there are thousands of different types of remote businesses and remote business ideas doing extremely well.

These remote businesses include: 

  • Blogging
  • Content Writing
  • Online Tutoring
  • Social Media Management & Affiliate Marketing
  • Home-Based Catering.
  • Translation Services
  • Personal Shopping
  • Subscription Box Services
  • Dropshipping
  • Website Design & App Development


One job that has proven very popular over the years is blogging. Social platforms such as Instagram, Facebook, TikTok have grown and developed substantially over the past few years.

The tools and skills for content creation are much easier to handle by groups of all ages.

The blogging world is providing opportunities for many creators to work from anywhere and anytime.

Whether you are on a trip to Greece or visiting your favorite restaurant in London, individuals can now explore videography, photography and create a blog that acts as an informational website on the internet. 

Creators make videos from anywhere and post online, receiving views, likes, and followers, enabling their social media accounts to grow and reach a wider audience.

Therefore, blogging through social media can be a strong source of income when the website or account grows.

Sponsors reach out to social media bloggers and pay them for their content.

Some companies promote their products and services through popular social media bloggers, including skin care items, cooking utensils, travel packages, home decor, and clothing.

Through blogging, the general public is connected to big brands through social media blogs run by bloggers from either the comfort of their home or anywhere else in the world.

The bigger your following is and the more people you can reach through your content, the more brands and companies will want to work for you and the higher your income will be.

Content Writing

Content writing is a great idea for a remote business.

If you love to read, write, and research topics, this is an excellent way to make money while working from home.

Multiple companies hire remote writers to write for their company blogs so that the products and services they offer reach a wider audience and so they can generate more business.

Companies use such specialized content as promotional and informative material on their websites, social media platforms, and blogs.

You can apply directly for remote writing jobs on multiple job boards or create your own website, develop a writing portfolio and reach out to companies yourself! 

This is a great remote business idea because there is absolutely no additional cost to run this business.

Of course, you can invest in training or certification to develop your skillset, but it costs absolutely nothing to write an article and send it off to a company.

Another benefit is that you can write and do all your research from home while you sit on your bed with a hot cup of coffee.

You do not have to commute to work at all.

Instead, you can hold meetings over a video conference and email your work once you are through.

Online Tutoring 

Over the past two years, online teaching has taken over in light of Covid-19.

Online tutoring has become very popular as it allows one-on-one teaching and can be done over video conferencing apps such as zoom.

Many individuals find it easier to carry out the teaching online, especially when the student is living thousands of miles away.

For instance, giving online Spanish classes from Spain to someone in the United Kingdom eliminates geographical constraints and provides a larger client base.

It gets rid of commuting and transportation costs, provides a private learning environment and more flexible hours to work.

The resources as well that one would require as an online tutor are minimalistic.

Additionally, many people have started offering fitness and cooking classes online due to the social distancing requirements in their respective countries.

This has become extremely popular as your only cost will be camera equipment, and you do not need to worry about renting a studio or a gym to record your videos.

You can simply conduct a class from your home, garden, or park.

Home-Based Catering 

A passion for food is one that many share today.

Preparing food at home and selling it to customers is increasingly popular.

Cooking in your kitchen sounds less pressuring, and taking orders based on your timetable sounds amazing too.

The catering business has shifted from restaurants to homes.

Thousands of individuals who have a passion for food, cooking, baking, or are and out chefs can take advantage of working from home and catering for events or parties.

This creates a considerable financial avenue.

Again, you do not have to rent a kitchen and can easily work on your terms and create the perfect working environment for yourself.

You could also offer a pick-up service as well for small-scale events so that you reduce your transport/delivery costs.

Social Media Management & Affiliate Marketing 

Social media is a key part of every business marketing and growth strategy.

Keeping up to date with trends and posting eye-catching content that racks up views, likes and followers is crucial to a company’s business as it contributes to branding and reaches a target audience.

Therefore, the role of Social Media Managers has become extremely important in recent times.

Companies are interested in employing Social Media Managers to oversee their public interactions, provide a positive brand image and analyze customer engagement data.

As the role is extremely social media-heavy, most Social Media Managers work remotely either as an employee of a company or as their own business, offering services to multiple clients.

Social media management can be done anywhere and anytime as long as you are a creative person with a good internet connection and a laptop.


If you are bilingual or fluent in two or more languages, you can easily start a business as a translator.

The world is becoming even more globally connected with companies opening offices in different countries and representing clients from completely different parts of the world.

Here is where translation services are extremely important.

Translators and interpreters are needed across various sectors, including professional services, foreign relations, education, to name a few.

All you need is your laptop and a good internet connection to attend meetings and translate in real-time or send back documents after translating them.

Your only cost there might be some training or certification as it sometimes helps in getting clients.

However, this is only a one-off payment and an investment in your business.

Personal Shopping

A personal shopper is someone who is paid to help another buy new products.

This assistance can be offered in person by accompanying them to shop or by shopping on their behalf.

Personal shoppers are responsible for recommending products to their clients and then purchasing the ones their clients like.

Therefore, personal shoppers need to understand their clients and recent trends, products, and services that their clients might be interested in.

While personal shoppers can be employed at department stores and boutiques, some work from home and work as independent contractors and have started their businesses.

Most personal shoppers charge hourly rates for their assistance to customers.

If you are affiliated with a business that sells certain products, you can earn a commission for any specific items you help sell.

Being a personal shopper does not require going to work at all, as you can simply carry out all your market research and communications with your client from the comfort of your home.

Subscription Boxes

A subscription box service is a recurring delivery of niche products through product distribution and marketing.

Suppose you plan on offering a subscription box service.

In that case, you can build a stable financial model with a recurring monthly revenue depending on how many customers you have.

The subscription box can range from any theme, including stationery, crafts, toys, beauty products, books, and even funky socks!

All you have to do is create a website and develop a marketing strategy for your service, select and order what items you want to include, package them into a box, start taking orders and send them off.

There’s no need to have an office space, and depending on how many customers you have and how your business grows, you can easily use your room to pack or any other free space at home.


If you are looking to open an online store, dropshipping could be an extremely easy and efficient way for you to do so!

Dropshipping is a business model where you can sell products from third-party suppliers or wholesalers online.

The biggest advantage is that you do not need to worry about storage, warehousing, or managing any inventory or customer orders as it is all done by the supplier.

The main job of a drop shipper is to advertise and create an eye-catching and easy-to-use website that attracts customers. 

You can start your dropshipping business by first picking a niche in line with your interests and consumer demands.

Next, try and calculate the potential margins you can earn based on your target audience.

After that, you will have to figure out your branding to stay competitive and set yourself apart from other drop shippers.

Lastly, you will have to name your store and set up the website.

Website Design & App Development

App development is becoming an extremely popular and profitable remote business to start for tech-savvy and innovative entrepreneurs.

If you are an experienced coder and can develop an innovative and unique app, you can start making money as an app developer.

The same goes for website designers and developers, especially in today’s social climate.

Most customers prefer online shopping instead of going over to the physical store, which is why it is crucial for you to have an attractive and easy-to-use website that has a strong online presence and can engage customers.

Registration of a Remote Business

Remote businesses are becoming the new normal with companies cutting back on their office space and focusing more on hybrid working.

Not only are remote business an attractive option for owners as save money in terms of operational costs but they also work for employees as it improves their work-life balance.

There’s no better time to start a business as technology has also made it much easier to communicate with teams and manage workflow.

But that now means that you should start considering which jurisdiction is best for a remote business.

Some jurisdictions are very friendly to remote businesses by also being a remote process of opening a business.

Hong Kong provides many benefits to companies even if they are not located in Hong Kong.

Register your remote business with Air Corporate today and get approved in under 48 hours.