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Thread: Hong Kong merchant a/c
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07-02-2005, 04:29 AM #1Aspiring Evangelist
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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
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07-02-2005, 02:06 PM #2Web Hosting Master
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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
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07-02-2005, 06:21 PM #3Web Hosting Guru
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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
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07-02-2005, 08:31 PM #4Junior Guru Wannabe
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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.
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07-02-2005, 10:53 PM #5WHT Addict
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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.
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07-04-2005, 06:36 AM #6Aspiring Evangelist
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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?
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07-04-2005, 07:43 AM #7Junior Guru Wannabe
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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
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07-16-2005, 10:43 PM #8Web Hosting Evangelist
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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
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07-17-2005, 01:51 AM #9Web Hosting Master
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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.
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07-17-2005, 04:51 AM #10Web Hosting Evangelist
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>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 $$$ to burn.Hosting Asia (Managed Enterprise Web Hosting Solutions for LESS)
Tel: (852) 2760-8233 (Asia), 1-800-WEB-0268 (North America)
Web Site: http://www.hostingasia.com, Email: info@hostingasia.com
Discounted Dedicated Server, Co-Location, Cluster Server and Shared Hosting
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07-17-2005, 06:36 AM #11Aspiring Evangelist
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$7000 is reasonable in hongkong for internet merchants, the banks don't work for you and me, but the multi-millionairs
under the tax scheme here, ppl better $$ 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?