It is true there are some tax regimes that don’t really seem to provide much in return in terms of service for the generous helping of the fruits of your hard work. (The whole political philosophy of taxation is the subject of another blog.) Why should you locate your business there then, many of you rightly ask? But in searching for a more effective solution, some are tempted to launch into signing up for some rather expensive structures in some odd sounding locations. There are a number of problems with these.
They do not sound very credible – because they are not. They simply provide the inefficiency of your regular team of bookkeeper/auditor/company secretarial service but at a premium cost because of the tax saving they hope to achieve for you.
They score relatively well in terms of taxation optimisation but their reputations are somewhat – shall we say – grubby. Then on top of that in selecting a minor unfamiliar bank, assets become less secure in times of crisis. Furthermore, those banks themselves often have higher commission structures and are not very dynamic, using out-dated technology giving you a poorer experience.
(Countries and banks not named here – I’m sure you can provide examples of your own!)
Business reputation is important, so it is important to be located in a place that is good for, well, business, and to have a bank that is what most people would recognise as a credible bank.
Two key strength of your being part of Hubconsult are Hong Kong and HSBC!
Strict regulation. Great for business. Your assets safe. Dynamic business location. Very much onshore – at the heart of the Asian market, and at a great value price to you!