The world is changing fast and not only for the worst, to be a digital nomad in Hong Kong is an effective way to benefit from business freedom in a low tax environment.
Being young today is a recipe for difficulties, a new generation of entrepreneurs is overpassing social and economic pressure to get away from their native countries, discovering the world and leaving fully the advantages of a Digital Era.
Despite the Covid-19 travel constraints some are continuing to travel, facing quarantines periods or being stock in exotic destinations. A digital nomad will be forced to select the best destination for his/her private life and enjoyment, business environment and opportunities; but the chosen location is often not the best to establish a company / pay taxes.
The notion of Digital nomad in Hong Kong is to be understood as having a Company (often with an offshore status) to enjoy a reputable jurisdiction, good banking facilities, ease of conducting business.
Living in Hong Kong and obtaining an entrepreneur visa is not, except for successful entrepreneurs with proven concepts, a solution which is very attractive due to the current 21 days of quarantine and the cost of living in the city.
Advantages of being a Digital nomad in Hong Kong, having a company there without living in the city:
- Often in geographical proximity with suppliers, better prices from drop shippers
- Stable economy, no tax increases as the city as NO debts, secured future
- Not an exotic offshore place, a major financial location
- Excellent banking network
- Opportunity to open bank account at distance with a Hong Kong Company in Singapore, Mauritius and Switzerland
- Opportunity to hire a local director and to open the bank account in Hong Kong
- Low tax environment, possibility to claim offshore profits.
- No nationality or country or residence requirements for the director(s) and shareholder(s)
- 100 % foreign ownership (in contrary of Thailand, Philippines etc.)
- No VAT
- No Capital gain, ease to onboard new investors and to sale the company
- Recognized by PayPal, Stripe and all nearly all the payment gateways