Developing News – Hong Kong Banking May Get Easier & Tax Reductions For SMEs

Michael MicheliniBanking, Blog, Corporate5 Comments

I’ve never been so excited – after years of frustration – I remember back in March 2016 as this banking nightmare started – seems Hong Kong regulators are loosening up.

And developing news that the Hong Kong banking system may ease up with not requiring local HK residential address proof, combined with tax reductions from 16.5 to 8.25% if profit is less than 2 million HKD. Maybe someone is reading this blog and taking note, hope this can save HK business!

Its in local news (attached) and we will report more as we learn more.

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5 Comments on “Developing News – Hong Kong Banking May Get Easier & Tax Reductions For SMEs”

      1. max martin

        Great to see some movement on this finally … but if it wasn’t for the difficulties opening a HK bank account, I wouldn’t have found your podcast!

        1. Michael Michelini

          wow, never thought of this banking nightmare as a way to meet more people like you! Maybe that made this hell of my life all worth it? It was really a low to be honest, a huge B-o-m-b in my business agency and life…. but now will come out of this stronger than ever. Let the weak go away and the strong survive.

  1. Ronnie Burns

    Hi guys! I just stumbled across this and was wondering if there is any update on the banking situation?

    Have things gotten easier?

    After having my account closed by HSBC 18months ago I basically gave up on HK Business and banking but would love to revisit everything if it’s now possible/easier to open a bank account.


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