Overseas business registration?

[kelvin811]

Hey there everyone. I'm currently 17 years old and aspiring to create a digital marketing agency. As of now, I've done around 200 cold emails, contacted a few media buyers, and have a few warm leads.

However, I'm living in Hong Kong, as a Hong Kong citizen. This means I cannot register a business as a minor.

I've reached out to a local entrepreneur who started his business at 16, and he did this by registering his company in the UK, where the minimum age requirement is 16.

Do you guys think it's a good idea to register my business overseas such as in the UK, or is there a better alternative for me?

Thanks.

 

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[maximusharrison]

Hey there everyone. I'm currently 17 years old and aspiring to create a digital marketing agency. As of now, I've done around 200 cold emails, contacted a few media buyers, and have a few warm leads.

However, I'm living in Hong Kong, as a Hong Kong citizen. This means I cannot register a business as a minor.

I've reached out to a local entrepreneur who started his business at 16, and he did this by registering his company in the UK, where the minimum age requirement is 16.

Do you guys think it's a good idea to register my business overseas such as in the UK, or is there a better alternative for me?

Thanks.

Have you tried other countries in Asia? Philippines maybe? Cause I remember as a foreign citizen you can now own 100% of businesses especially if you're an internet business.

Cause registering it in the UK or even EU might be more costly. There are different regulations you have to consider. For example, in European Union countries, it may be worth considering registering your business more cautiously cause even if you're operating in HK there are different regulations you need to follow (e.g when you're enforcing contracts remotely you need to be eIDAS compliant, but I think you'll be able to get an EU Digital Signature Certificate (DSC), which will make it easier for you to do business online with customers in other EU countries)

Another thing to keep in mind is taxation. Depending on where you register your business, you may be eligible for more favorable tax treatment than if you were based in your home country. This is something you should definitely speak to an accountant about before making any decisions.

There's no simple answer to this question - it really depends on your specific business and circumstances.