When you decide to open an offshore company, there are several options. The best method is registering a new company because you can leverage everything in line with your brand. Besides, opening a bank account is also easy…only if a reliable agency assist you. Another method that people who are very rash might consider is buying a registered company. However, one of the most interesting methods that some people are advocating is buying an inexpensive company with a bank account. A cheap offshore company with bank account, is it really possible?
Registering an offshore company
To register a new company in Hong-Kong, the process involves four easy steps.
- Preparing necessary documents: At this stage, you collect documents such as copies of shareholder passport, business name suggestions, office location, and address of a resident secretary.
- Getting a business office and resident secretary: The registration office will also require you to give the address of a physical office in Hong Kong and contacts of a resident secretary. These are important for direct liaison and communication with other government agencies.
- Searching the business name: To make your business name and brand as unique as possible, it’s a must to carry comprehensive search to ensure that no other company has a similar name. This is easy because the registry maintains an updated database so that you can search from anywhere in the world. After presenting all the documents, it will take about two weeks to complete the registration process.
- Opening a bank account: After registering a business, the registration certificate should be presented to the bank of choice, together with copies of shareholders passports, and resident secretary to get the bank account. The chances of getting a bank account are very high if you are assisted by a reliable agency. With all the documents, it will take about two weeks.
Buying an offshore company with a bank account
Benefits of buying a registered company
This is an option that many people prefer especially when they have very limited time. For example, if you have a deal that has just gone through faster that you anticipated, an already established company makes it easy to complete deal faster. Besides, having an older company makes a brand look more established and win trust from more clients.
Limitations of buying a registered company
Despite the benefits that are associated with the purchase of a registered company with a bank account, the risks that lay ahead of you are very many. First, there is great delimitation of the name you have to use.
Because the person who registered the company in the first place did not have your brand in mind, you have to go with what is available rather than what is ideal for your brand. This can have a lot of negative implications when it comes to marketing the company services and brand.
Getting a bank account will be almost impossible
There is a high probability of being unsuccessful when opening a bank account. Most banks in Hong Kong are very particular about companies and changing all the shareholders can be a very lengthy process.
In many instances, the process is never successful because one of the previous shareholders is not available or the bank is not convinced about the need for transfer. Because of this, you are at a great risk of losing the money you pay to buy the company or even get embroiled into court suits...
Risk of spams
When you get an advert calling buyers to buy very cheap companies in Hong Kong especially lower than 2000 HKD, there is a high likelihood that it is a scam. Well, consider reviewing past sell outs and you will realize that the rate of success is very low.
So, Why risk your money when you can complete the process easily and very fast even without getting to Hong Kong. Simply identify a reliable agency to assist you with registration, getting a resident secretary, and even office. The agency can even help you run the office without having to come to Hong Kong.