Should You Take a Dividend or a Salary From Your Business? in Hong Kong and Globally With Ray Ng – GFA175

Michael MicheliniBusiness, Ecommerce, Podcast1 Comment


How are you paying yourself? This is a hot topic from many listeners – as entrepreneurs, digital nomads, e-commerce sellers traveling the world- how do we pay ourselves? Its important to take care of ourselves – but also maximize the tax benefits – for Hong Kong as well as anywhere in the world.

And I apologize for last week we left some swear words and other parts of the show that were a bit not cool for some of you – Doug and others -we have since cleaned that up – and today’s show is a bit 180 – with talking taxes and corporate. This is my business partner, Ray Ng, from Unipro Consulting Limited – doing HK corporate services together. So lets tune in

Topics Covered in this Episode

  • Connector.

    Intro Ray

    My business partner at the consulting firm Unipro Consulting Limited, great to have you on the show.

  • Connector.

    Hong Kong CPA

    So you’re a licensed HK CPA, right? How exactly does one become a CPA in Hong Kong? Not that I want to be – just curious haha.

  • Connector.

    Options To Take Money Out

    A lot of entrepreneurs here wonder how to get the money out of their companies to pay their rent, food, beer, and coconuts. What are the options?

  • Connector.

    Option 1: Dividend

    So Hong Kong doesn’t have a dividend tax, right? so that is nice. Is this the more common way?

  • Connector.

    How to take out the dividend?

    Just head on over to the ATM at Nana’s in Bangkok and withdraw a few times, pay the international ATM bank fees and currency exchange rate, and that’s it?

  • Connector.

    Option 2: Salary

    So, there’s the other option which is hiring yourself in the HK company. What does this mean exactly?

  • Connector.

    HK Employment Tax

  • Connector.

    HK Employment form

    Each year, Hong Kong companies get this form in the mail that asks how many employees they have, can you explain that a bit? So if the owner is paying dividend, they don’t count themselves, but if they are counting themselves as an employee, that should be as 1 person?

  • Connector.

    Hiring people outside of HK

    So if the HK company has staff working full time, in Thailand, do you need to report that in HK? How does that work?

  • Connector.

    Offshore status

    Regarding tax exemption as an offshore elect company – does option 1 or 2 matter for filing offshore as a HK company?

  • Connector.

    When does someone need to decide which way?

    Is this something the business owner should decide from the beginning? Can they call the ATM withdraws at Nana’s a dividend or a salary later on?

  • Connector.

    Tips

    Any tips for a listener who is a bit confused on what they should do for their situation?

  • Connector.

    Contact

    And how can you, or we – help them? What is the best way for them to reach out. Website, email, [email protected]

  • Connector.

    Thanks Ray

    Glad to finally get you on the show!

People / Companies / Resources Mentioned in this Episode

Unipro
Global From Asia Experts
Personal and Corporate Tax Rate
√ unipro email – [email protected]

Episode Length 25:23

So that’s a wrap – I hope to get Ray back on in the future to talk about taxes and other accounting help. Actually something in the works already on Amazon and e-commerce accounting streamlining and strategies.

And another cool announcement- we talked about meetups and workshops in an open platform – well Vietnam is coming! June, you can check that one as well as a lot of other events, courses, and workshops at our new experts platform – experts.globalfromasia.com – ok, see you next week!

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