So I have been getting many emails from my fellow Americans. They are confused why our rates here at Global From Asia are higher than the rest of the world citizens. There was a post announcing this increase (Price Increase for Americans).
Today I’m going to split it into 2 different ways for US citizens to work with us.
That First Tax Filing Year Will Be a Learning Process
Americans who never had business outside of America will have a bit of a learning curve that first year. And your accountant might not be familiar with all these international companies and how to do it right.
This is why we had the price difference. We want to help work close with you on advising which tax forms to fill out. Not only on which ones, but how to fill them out, and make sure you understand all the procedures for the following years.
We don’t want you to get in trouble right off the bat in your first year with the tax department!
There are a few forms to fill out, and it will set the precedent for the years going forward.
Working with us, at our US Citizen pricing, we will hold your hands through that first year personal tax filing. Make sure all the shareholders and directors of this new Hong Kong company fill out the papers they need to in USA. It depends on their role, how many shares they have, and where they are living – so we cannot give generic advice on this post today. Taxes are not black and white straight forward for everyone and every situation.
So, Let’s Make a Deal
Our competition out there doesn’t differentiate between Americans and non-Americans. We have been losing our fellow Americans to other HK agencies.
Just being transparent here.
So we want to work with you, I’m an American myself!
So, if you are confident you know what you need to file as a US citizen, here we go. You aren’t going to ask us for professional advice and help on the US side, we can extend you the same price as the rest of the world.
Yet in That Situation, We’re Not Responsible For your US side
So let’s be clear, if you take our “special US Citizen” package, we will give you white glove service. As an American owner here in a HK company, I can help you out. I connect you with accountants and get the first year of the special filing forms done.
I know, you want to skip that and get the same price as everyone else. Well, I can’t blame you. But you will have to do the homework yourself. Make sure your US accountant and tax preparer understands your situation. The HK company setup package is just that, Hong Kong company setup. Not US tax advice.
So, we’ll update the pricing page on our HKVIP Hong Kong company package to add this special offer for my fellow Americans. We’ll ask if you have this taken care of. then ask that you sign off that you do not need our help as an American with an overseas company.
Also – What Are The Yearly Costs Special For An American?
So, many Americans have also been asking what is the ongoing costs for having this overseas company. There will be those costs, and either package you take (The US Citizen White Glove Package, or the Special Waiver Package) we cannot cover those costs.
I’d estimate, depending on your tax preparer and situation, budget around $1,000 USD a year in forms and processing. This is on top of your normal tax filing. There are differences depending on if you live in America or are living overseas.
Hope You Like This Update
So, we’re working it out for our fellow Americans. Still keeping the full-service US citizen package. We will work close with those clients to ensure they do their first year filing correct.
But we know how you may already have an overseas company and a tax preparer who can help you, so we took your feedback. We’ll offer the same price as “the rest of the world” given that you will confirm you have someone else to take care of the US side of the filings.
Maybe One Day, It Will Get Simpler Again?
Maybe one day we can write a post about how it has gotten more straightforward. But for now, it is complex, especially for a first time US citizen doing business overseas.
Global From Asia supports Americans “venturing out” and competing on a global level. It has been sad for us to see and hear phone calls with clients getting left out. Losing business deals with Europeans and other non-Americans due to these costs and complications.
It’s becoming quite a big deal for us, and hope one day we can have more influence to help change it! Cheers to my fellow Americans.