Bank Secrecy in Hong-Kong: The Last Bastion?
Bank secrecy will slowly disappear, as of today nobody knows what the real impacts of the Common Reporting Standard and the Automatic Exchange of Financial Information will exactly be.
It’s a world premiere in front of which you have the believers, whom pragmatically affirms that the laws have to be respected and some others considering that such laws had already being implemented years ago, as example with anti-money laundering laws, without any effects for more than 20 years.
Despite a new area of transparency it’s still possible to protect your privacy and to not publicly disclose private information; this should be prepared and accompanied by professionals.
The best long term solution is to acquire residence in the country where your business is or in a country with territorial principle for the taxes. We could support you to obtain an investment visa in Hong Kong.