The Two Main Ways of Opening a Company in Hong Kong

Thinking of registering a company in Hong Kong? You can do it in two ways; (1) purchasing a shelf company, and (2) incorporate a new company.  A shelf company is an already incorporated entity that people buy to avoid going through the logistics of registering a new company. Sounds simple? It might look direct but becomes very complex and almost impossible to complete the process.

In this post, we look at these two methods and establish why it is better to register a company from the beginning compared to the shelf entity.

Why people buy shelf companies

  • Shorter processing timeframe: Because the shelf company is already registered, all that remains is transferring the ownership. This could take about 2-5 days while the common registration process requires about 10-14 days.
  • Opening a bank account could commence within no time: Now that the transfer of the company will be through in only a few days, the process of processing a bank account can start immediately after.
  • Having a company with older legislation date builds on trust: Many people want to be associated with companies that have taken longer in the market. They create the impression that they are more established and could attract more clients.

While these benefits might look attractive, the disadvantages make the process very unattractive.

Dangers of buying a shelf company

  • Because the company was not registered with your business in mind, it is very difficult to get a perfect match. The company you buy is likely to miss the anticipated outlook. You need an outfit that rhymes well with your desire to enter and grow in the Hong Kong market (check OECD requirements).
  • Opening a Hong Kong corporate bank account is a herculean and almost impossible process: While the argument that you will easily transfer everything might sound easy, everything hits a snag when it comes to the bank account. To transfer the bank accounts of the shelf company to the new buyer, banks want to get convincing reasons from all shareholders. Most of the companies will simply decline while others will recommend that you open a new entity. When things reach here, the risk of losses or having a company that cannot trade are too high.
  • The names are very limited: Because the company is already incorporated in Hong Kong, you have to get contented with the available names. While you can change the name later, the process is lengthy and risks confusing the clients you will have made.

Registering a new company

Why take all the risks that come with buying a shelf company? The better way to go about it is registering a new company through this agency (just an example). Though the two weeks period might look long, it is better to wait and have the outfit that rhymes with personal aspirations.

Benefits of registering a new company 

  • The company takes the outlook, name, and structure of your choice
  • There is no risk of losing money because your details go directly to the company registry
  • You can get an agency to help register the company without having to travel to Hong Kong.
  • Incorporating a bank account in Hong Kong will be direct and easy

While a shelf company always looks attractive because of various benefits, everything grinds to a halt as the reality of loss dawns to investors. However, do not get into such risks! Contact a serious agency today to help you understand the Hong Kong market, register the company, and establish as fast as possible.

Tips for Reducing Your Household Expenses

The word “debt” usually calls to mind car loans, credit card balances, and mortgages, among other big-ticket financial burdens. Next to those issues, household debt doesn’t seem like a significant worry. The fact that it seems like a mundane concern is precisely why it’s such an insidious problem, though. You can’t get away from household debt if you’re even partly responsible for the home, since it consists of all the everyday things you need. You can soften the blow by changing your buying habits and tweaking the way you spend money.

Pay More Attention to Cost Than to Price

You know how you sometimes buy an item that you kind of need simply because the price is low enough to suggest a great deal? Personal care items, such as razors, and home care items, such as candles and air fresheners, are famous for this. Stores also catch you with BOGO, or buy-one-get-one, deals that aren’t deals at all. You don’t lose a lot of money on individual items when you fall for this tactic, but the cost adds up over time.

Anytime you’re shopping, particularly for items that fall on the expensive side, don’t pay as much attention to the price tag. Look closer. What is the cost per unit of the item you need? Are you saving if you buy more than one? Can you save more if you buy more than two? Smart shopping is all about math, even as you roll your cart along the aisles of the grocery store. The numbers will always tell you if you’re scoring a great price or wasting your precious budget.

Buy It in Bulk

Image via Flickr by kenteegardin

Contrary to the coupon shows, it doesn’t pay to buy everything in bulk. However, non-perishable items that you genuinely use and frequently buy are always worthwhile bulk purchases. It’s still wise to look at the cost per unit of each item, but at the very least, you may save more money by switching to a different brand.

Keep in mind that some bulk stores also offer better prices than others. Of course, you no longer have to spend your money on a membership to a brick-and-mortar wholesale store. Online stores such as Jet, Boxed, and Amazon make it easy to order your bulk items and have them delivered to your home, which can be much more convenient.

The secret to successful bulk buying lies in never purchasing what you don’t need. Stick to non-perishable items, but remember that includes many foods and beverages. Don’t buy anything you only think you might use. Don’t buy something you’ve never tried before, as curiosity has no place in bulk shopping. Don’t forget personal items, either. You can purchase shampoo, conditioner, soap, razors, and skin care items in bulk.

Reassess Your Cell Phone Plan

A mobile phone isn’t a luxury like it once was. Now it’s a necessity. However, individual phones and plans are expensive. If there’s more than one phone in your home, the cost can affect your household debt. Is anyone in the home paying for two different cell phone plans? Research the possibility of sharing, such as with a cell phone plan from T-Mobile, which will allow everyone to choose their own phone. Because T-Mobile plans offer such benefits as unlimited data, fast streaming, and a reliable network, you can save money by going bulk on your phone plan, too.

Prune Your Entertainment Budget

Many households pay for cable or satellite TV, including premium movie channels. Yet they also have subscriptions to services such as Netflix, Hulu, Amazon Prime or Instant Video, and others. Do you need all of that? Go over your cable or satellite package. What are you paying for and how much of it do you actually watch? You might have a sports package that you never even use. You might find that you don’t need a package at all and that your streaming subscriptions fulfill your viewing needs.

You don’t have to sacrifice your pleasures, hobbies, or even your favorite foods to cut down on your household budget and save some money each month. You just have to spend your money more thoughtfully. What are your favorite ways to save?

Living with a Bad Credit Rating

Sometimes life throws you several curves and no matter how hard you try, you can’t seem to keep your head above water. For many people, this, unfortunately, is a way of life. They live from one paycheck to the next and basically have the monies spent before they receive them. Because of this, you end up paying your bills late or even miss a few payments. As a direct result, your credit score takes a hard hit and that just makes matters worse. The good news is that there are things you can do to get off the vicious cycle and start enjoying life.

Living with bad credit

When you have a poor credit score you end up paying more than someone with a good credit score. It’s harder to acquire a mortgage, a car loan, a personal loan and credit cards. On top of all that, if they do give you the loan or the line of credit, the interest rate is very high. Unfortunately, in today’s world, your credit score affects other areas of your life as well. Many insurance companies will not take on new clients with a bad credit score and the same applies to your job prospects, many of the larger companies now view your score as a judgment of your character. So it’s more important than ever to improve your score sooner rather than later.

Where to turn for money

When you live paycheck to paycheck it’s only a matter of time before you can’t cover a bill. When this happens your car payment is late, your loans are late and your credit cards too. The problem is that once your credit score is lowered, most typical bank lenders will not grant you a loan. Luckily, there are still loans for people with poor credit available out there. Many online companies have short-term loans available with repayments from 6 months up to 2 years. This can give you the funds you need to get back on track and resume making your payments on time.

Importance of budgeting

While the short-term loan offers a quick-fix for your current situation, it is not the solution to your problem. The ultimate way to fix this and end the week-to-week style of living is to get on a budget and stick with it. Many people who eventually make late payments on their car, home, and credit cards, made enough money. It was the managing part of it that caused them to default.

The first thing you’ll need to do is clear off a table or desk and gather up all of your bills. Then, on a sheet of paper, list each of them. Once you have all of them listed then you need to add in regular monthly expenses like food, gas, school and essential supplies. Add all of these up and then deduct your net income after taxes. Hopefully, when you deduct your income from your expenses you make enough to cover everything. If this is the case, then your problem lies with your spending habits. If on the other hand, you don’t bring in enough to pay all of your bills, then you need to reduce your overhead or acquire a second job temporarily until you meet your obligations.

Paying off debt

With a plan in place, you can reverse your bad credit score and recover. It will take a little time, but it will happen. For now, you need to make every effort to pay your mortgage, car payment, personal loans and any other extended credit by the due date. Second, you need to start living frugally in order to get the debt paid down faster. This means that you’ll have to give up things like the morning coffee on the way to work, limit eating out to once a month and purchase only the things you need. If you do this for a few months, you’ll soon start to see that you are easily getting from one week to the next without a problem.

Living with bad credit costs you more than an embarrassing loan denial. Today, your credit score is your worth to many companies and that means it can prevent you from landing a new job, getting a cell phone or even renting an apartment. Make every effort to get back on track as soon as you can. Throw a little extra to your credit cards, focusing on the one with the highest interest rate first. Also, learn to tuck money away for a rainy day so that when something does need your attention, you’ll have the money to fix it without touching your bill money.

How to Begin Stock Investing

Maybe you are a newly married couple who wants to save up for a house or you already bought one and you want to travel around the world once you retire. In both cases and not only, you have done your research and found out that stock investment is your best choice. Congratulations, you are on a right way and this article will help you plan your further steps. Stock market is not so much of a gambling as many people think, with careful and smart moves you can conquer the market and enjoy your house or the tour in Paris. You are here to learn how to begin stock investing so enough with this talk, let’s get to your guide.

Get your finances in order

Everything can go wrong if you do not take this step seriously or worse, skip it. You have to understand and analyze your current financial status. To some extent, this step is your insurance in stock market, and it is necessary for risk assessment. Keep in mind that in market losses are possible, so you should ask yourself if that happens, how much you are ready to lose. Some financial advisers suggest being debt-free before investing, which means you need to be done with your student loans, credit card debts and even shorten mortgage. By doing so you can eliminate the risk of compiling even more debts thus becoming a responsible investor. Don’t blame market and its ups and downs, if you did not pay much attention to finance evaluation and risk assessment. I should warn you that this step can take longer than you think but without it, I am sorry to say, you can’t expect any dividends.

Learn the basics

Dividend? You don’t know what it means? Well, you need to learn the basics of stock market. Just like the college or the bank you chose, successful stock investment requires research. Talking to your neighbor or friend who invested is not enough to declare, “I am done with research.” You need to devote some time to learning the terminology, current trends of stock market and explore investment opportunities. All you need to do this Google and you will find dozens of sources. Read investment newsletters, and guides, follow successful stock investors, and stay updated. Why do I need to learn all of this if I can go to an adviser or a stockbroker? Fair question, I have to say. Advisers, my friend, can guide you through the process of investing itself, meaning explain you what is good for you and assist you while forming your portfolio. But guess what? They will talk with terms and because the last thing I want is your baffled face expression when the adviser is speaking, I am telling you now, learn the basics.

Extend your hand to portfolio

Tadam, you have learned about stocks and you have done your research. Now with this background knowledge, you can easily pick a stock that will pay off at the end. For this step, you need to allocate your assets to form a portfolio of investments. There is one extremely important part, which can cost you the success of your investment. Similar to finance and risk evaluation, diversification plays huge role in minimizing the risks. Diversifying portfolio means to invest in different stock to ensure maximum variety. Since not all the stocks respond the same way to changes, at least some portion of your stocks will be safe.

Time for your stockbroker to shine

Stockbroker is your authorized representative in the market, so to speak. Their functions include and are not limited to finding the best deal of buying or selling stocks, and handling the whole process of the trade. So the only thing left for you is to go through the paperwork and sign them. Stockbrokers simplify the technical parts of investment for you, but their responsibility is immense. Therefore, select a stockbroker or a brokerage agency with your eyes wide open and with sharp mind.

Check, check, check and finally check

The market can be as much of an online casino UK as you make it out to be, but with proper planning it will be an investment and not a gamble.  Once you complete all the checkpoints, you can heave a sigh of relief because the hardest part is gone. We want you to have a safe and successful journey in the investment world and hopefully, we taught you how. You have a goal, you have a target and you know how to reach it so go ahead and begin investing.

Everything You Need To Know About Incorporating a Company in Hong Kong through an Agency

When investors set out to open offshore companies, the main challenge is getting a perfect place. This is never easy because most countries and regions have their unique challenges. However, one of the top investment destinations in the world that should never escape your attention is Hong Kong. If you opt to register a company in Hong Kong, the following benefits await.

Advantages of opening a company in Hong Kong 

  • Straight forward tax regime
  • Possibility of a 0% tax if transactions are done away from Hong Kong
  • You can use the company as a gateway to the Mainland China and the entire Far East
  • Hong Kong has a very stable financial system
  • An administration that supports businesses for faster growth and success

Having understood the many benefits that come with entering Hong Kong, the next step is registering a company. Though you can register the company on your own, the process is lengthy because you have to travel to Hong Kong, look for a company secretary in Hong-Kong, an office, carry a name search, and present the documents to the registry. Instead of following the lengthy procedure, you can use an agency to register the company faster and conveniently.

Benefits of working with an agency

Often, many people who want to open offshore companies are faced with the challenge of having to travel, prepare the required documentation, and wait during the processing period. This is the key reason that agencies were allowed to assist with incorporating companies for foreigners. Here are additional benefits of working with an agency.

  • The agencies operate from Hong Kong: This is very critical because they understand the business environment and can give recommendations based on the latest policies and developments.
  • They can serve as your company secretary and address: One core requirement for incorporating a company in Hong Kong is that you must have a company secretary. This is the main link person for the company and administration. The agency will help you to get an appropriate secretary and a company address. However, if your company will not be very busy or want to enter Hong Kong gradually, the selected agency can serve as the secretary and physical address (what about CRS?).
  • Your agency will help you with the entire registration process: Having been in Hong Kong and being run by experts, you can expect to get the company registration completed very fast. The agency will require you to submit the required documents and can help with preparing the memorandum of understanding, articles of association, and others in a professional way.

How to pick an agency to incorporate your company in Hong Kong

To be sure of getting more from an agency during and after incorporating a company, it is important to pick the right one.

  • Consider an agency run by experts so that you can get professional advice
  • The selected agency should be based in Hong Kong
  • Ensure to pick the agency that has a history of good relations with past clients
  • Evaluate the agency’s commitment to clients
  • Pick an agency that is willing to nurture your presence and growth in Hong Kong

Please contact us for assistance with incorporating your company in Hong Kong. We are here to assist you to register, grow, and expand beyond Hong Kong.

 

The Benefits of Buying Used Cars

The benefits of buying a new car are pretty self-explanatory. Everybody likes owning new things. Sure, it might cost a little more, but you get the benefit of feeling cool, having a nice thing that works really well, and reaping the benefits of consumerism.

For those who just aren’t into those things, at least enough to warrant spending thousands of dollars more than necessary to get a nice and reliable vehicle, used cars are always the way to go. Some of the benefits of buying users are well known. We’ll cover most of them here.

1)    Newer Used Cars Are Better Than Ever. People like to complain about the quality of consumer vehicles, but the reality is that cars are getting better and better. The average car is safer, lasts longer with less maintenance, and gets much better gas mileage than a similar car would have gotten a couple of decades ago. If you go to J.D. Byrider, you could pick any car on the lot and find a vehicle that won’t break down anytime soon. If you’re old enough, you’ll remember ten or fifteen years ago when car trouble was frequent for just about everybody. You might go to a party and learn that your friend didn’t make it because they broke down on the way. This doesn’t happen nearly as often anymore.

2)    Used Cars Depreciate Less Quickly. If you want to buy a car that holds a lot of it’s value, buying used is the way to go. Cars lose value most quickly when they are new. People will pay much more for a brand new, never-driven car than they would for the same car even three months after it was first purchased. Some of these reasons are practical, others are psychological, but the outcome is the same: used cars lose value, but not as fast as brand new ones.

3)    Used Cars Cost Less. This will be obvious to anyone paying attention, but used cars cost less than new ones. They’re cheaper to insure and they’re cheaper to purchase. They can cost more to maintain and repair but, as described in point one, used cars of more recent vintage have higher standards of design than those manufactured ten years ago. They’ll continue to perform well, often without expensive repairs, even though they are no longer brand new.

4)    They May Get Fewer Tickets. Some studies indicate that people who drive new cars get more tickets. We won’t get into the weeds of the implications of this. Maybe new car drivers just drive faster. Maybe people in new cars seem like easier targets to corporals on patrol. Whatever the case, a used car might make you slightly less conspicuous on the road, which is never a bad thing where traffic violations and ticketing are concerned.

 

Used cars are the way to go for people who want to save money. If you do the leg work necessary to find the right vehicle at the right price, there is pretty much no downside to buying used instead of new.

Mutual Fund Calculators

Technological advancements have turned the common into man an investment guru. The internet provides several resources that are useful to people interested in investing real money. It has become such a wealth of information. There are even tips and strategies on how to win the best online casino games at sites like casino aus. And some of the advice actually works.

Online calculators are the newest trend in the industry. There are calculators for everything. Some of these programs or Bots are for sale while others come free. Now there are mutual fund calculators. One would think the point of investing in a mutual fund is so that you leave the number crunching to the pro’s. But in this day and age where everyone is so greedy monitoring your mutual fund is not such a bad idea.

Difference Between A Free Mutual Funds Calculator And Premium Versions

The differences are too many to mention. But as any other industry, products from companies are different. The war for supremacy online means that developers of these systems will try to give you as much functionality as possible in the free version. However, they always make it a point to limit the instruments that actually make you money to the premium version.

It is essential that if you want to use a mutual fund calculator you invest in the premium version. That is what the professionals are using and if you are wise you will do the same. It is important for you to choose the best bot for your investment. Different bots are designed to operate differently. Find the ones optimized for your investment.

Finding the perfect product online is very difficult. This is because of the large number of con-artist on the web. These are individuals who operate sites strategically placed to swindle people of the hard earned money. A great way to find the best sites to spend your money iss to check for peer reviewed sites. These give a decent indication of what people think about the service from a company. Typing scam in front of the name of the product you want to buy will also reveal a lot about the product.