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  1. #1
    Join Date
    Aug 2002
    Location
    Hong Kong
    Posts
    417

    Hong Kong merchant a/c

    what's their requirement to apply for?
    is just a business registration and a bank account ok for that?

    thanks

  2. #2
    Join Date
    Apr 2005
    Location
    San Francisco, CA
    Posts
    1,031
    Not sure about Hong Kong banks - but a lot of businesses from HK using WorldPay

    Busines name and Bank account is enough for open account at Worldpay

  3. #3
    I would suggest you to make some calls to local banks. I'm sure you will find some with merchant services for the Internet
    Credit card processing, online check/ACH and EuroDebit payment solutions for the Internet merchants
    www.psbill.com

  4. #4
    Join Date
    Aug 2004
    Posts
    76
    ok, rather than replying, I started a new thread!

    Anyway, try www.paydollar.com. I don't know anything about them, but they are in HK.

  5. #5

    HK

    Its not to difficult to get a merchant account from a hk bank, but it requires that you are a registrated hk company and have a previous banking record with the bank.

    If you do not have a previous banking history with the bank, they will demand a sizable depositum as security.

    By the way, the set-up fees and the monthly minimum requirements are also quite high compared to US and European merchant accounts.
    Last edited by fun2fun; 07-02-2005 at 10:57 PM.

  6. #6
    Join Date
    Aug 2002
    Location
    Hong Kong
    Posts
    417
    all of them don't even list any rates on their sites, i'd expect its gonna be HUGE

    oh wait, revenue by hk ppl not generated locally will not be charged for tax, will those xxxx count it local if it is from a local merchant a/c regardless of the server locations and customer origins?

  7. #7
    Join Date
    Sep 2003
    Posts
    40
    As you reside or live in HK I would guess that it will be considered as part of your income if you declare it or if its large enough that they spot the cash transactions

  8. #8
    Join Date
    May 2004
    Location
    Hong Kong and Vancouver
    Posts
    491
    We bypass local and suggested many of our clients to use WorldPay instead.
    Hosting Asia (Managed Enterprise Web Hosting Solutions for LESS)
    Tel: (852) 2760-8233 (Asia), 1-800-WEB-0268 (North America)
    Web Site: http://www.hostingasia.com, Email: info@hostingasia.com
    Discounted Dedicated Server, Co-Location, Cluster Server and Shared Hosting

  9. #9
    We have asked Bank of China and HSBC. BOC will keep your money for 6 months before deposit money to your bank account. HSBC requires a minimum of HKD$500,000 deposit.

    Now, we are researching BEA. http://www.hkbea.com/whp_servhk/whp_ebd.html
    Their yearly fee is about HKD$7000 (info from other website). It sounds reasonable, but not sure whether they have other charges/ requirement.

  10. #10
    Join Date
    May 2004
    Location
    Hong Kong and Vancouver
    Posts
    491
    >Their yearly fee is about HKD$7000

    It's the first time I hear people saying HK$7,000 annual fee is reasonable, may be you guys got $$$ to burn.
    Hosting Asia (Managed Enterprise Web Hosting Solutions for LESS)
    Tel: (852) 2760-8233 (Asia), 1-800-WEB-0268 (North America)
    Web Site: http://www.hostingasia.com, Email: info@hostingasia.com
    Discounted Dedicated Server, Co-Location, Cluster Server and Shared Hosting

  11. #11
    Join Date
    Aug 2002
    Location
    Hong Kong
    Posts
    417
    $7000 is reasonable in hongkong for internet merchants, the banks don't work for you and me, but the multi-millionairs

    under the tax scheme here, ppl better $$ rush to open an offshore llc at all cost for receiving all their internet generated $$ like hostingasia

    hey do you still need a local company's entity for employing people?

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