Residence G Shenzhen hosted an exclusive and exceptional dining event last November 29th with attending guests being the property’s owners and top VIP clients. Chef de Cuisine Sylvain Royer teamed up with the talented executive chefs Hervé Frerard and Danny Xie to create an exclusive one-night-only culinary experience for the diners.
Chefs in the kitchen
The Chef Dinner featuring six hands aimed to showcase the three chefs’ culinary skills and creativity to offer a bespoke menu of six-course degustation which introduced French produce and recipes that used to be consumed by French Royalty during the monarchy era. The ‘French Royal’ themed alfresco event took place on the ClubHouse restaurant’s terrace with views over Nanshan. From gold foiled invitations to lavish table dress up and menus being rolled into royal announcement style, no detail was spared. At the terrace, diners can experience a chic and casual environment where they can socialize and appreciate the spectacular night view of South China’s buzzing metropolis, Shenzhen, making it the preferred venue for such events.
Frenchman Sylvain has worked in several Michelin star restaurants in France before entering the hospitality industry in 1993. A creative and passionate culinary maestro, Sylvain gained two Michelin stars during his career in gastronomy and has helmed the kitchen of award-winning restaurants including Scarlett in Hong Kong, Bangkok, and sister restaurant Ginett in Singapore. His trips around the world have gained him a wealth of experience across Europe, the Middle East, Asia and the US. He believes in Farm to Table concept where the use of the right and fresh products is key hence a preference for organic and locally grown products.
French native Hervé is a culinary innovator, cookbook writer and a passionate industry leader. He is one of Thailand’s most revered chefs and the President of the Disciples Escoffier Thailand Delegation, an organization dedicated to the gastronomic art. Hervé is currently leading the kitchen team of Ginett Wine Bar & restaurant in Singapore. Danny is the Executive Chef of Residence G Shenzhen. He has worked for over 18 years in many high-end luxury hotels and is an expert in making delicious seafood with fresh seasonal ingredients like fresh herbs and olive oil.
With beliefs in camaraderie and collaboration amongst industry professionals, Hervé and Danny joined Sylvain for the six-hand dinner. The concept of six-hand chef dinner, in which a chef invites another two chefs to create a menu together, has lately gained popularity. It offers the opportunity to learn from and interact with other outstanding chefs from around the world. The collaboration encourages innovation and teaches the chefs to embrace new ideas.
Guests at table
The three chefs’ rendition of six French traditional courses offered diners an authentic taste of France with fresh and seasonal ingredients. Commencing with the appetizer Amuse Bouche, the dinner tantalized diners’ taste buds with Organic Egg with Black Winter Truffle, Langoustine Tart Soufflé, Stripped Cod Fillet with Potato Crust and Roasted Anjou Pigeon. They ended with the French dessert, Caramelized Apple Tatin. A special selection of wines was designed and paired with the dishes throughout the night. A definite resounding success for diners and organizers alike.
Residence G Shenzhen is managed by GCP Hospitality and is located at
4078 Dongbin Road, Shenzhen, China:
Nowadays, mobile payment has turned to be the most popular payment method in China. If you are walking on the street, you may find nearly every stores, markets, restaurants, taxis……even some beggars accept mobile payment as a method of payment. Right now, over 90% of mobile payment market in China is occupied by Alipay and WeChat Pay. More and more merchants in China are starting to accept mobile payment.
What Is Alipay?
Alipay is a third-party mobile and online payment platform which belongs to Alibaba Group. At first, it is only an online payment method which can be used on Taobao.com (similar to Amazon.com) to do online shopping. Right now, it turned to be a large platform which provides not only payment services, but also movie tickets, Didi taxi (similar to Uber), Air & Train tickets, Phone top-up and crowd-sourced reviews about local restaurants services (similar to Yelp.com).
Therefore, it is not exaggerated to walk on the street without your wallet, for what you need is only a smartphone. So what are you waiting for? Let’s start to enjoy it!
What Shall I Prepare to Begin with?
What you really need are the following three things:
1. A fully charged smartphone
Until now, Alipay App is only available on smartphones with iOS, Android or Windows phone system. You can search “Alipay” or “支付宝” in your App store, Google Play Store or Microsoft Store to download the App. (Attention: We do not recommend Windows Phone users to use the App as it was not updated since July, 2012 until June, 2018 in Microsoft Store.)
2. A phone number which you can receive SMS in Mainland China
When doing registration or paying a large amount of money, the App may send you confirmation code by SMS. Therefore, you need to make sure that your number is available in Mainland China and the number has been linked with your bank card when you were applying it in Chinese Mainland banks.
3. A debit or credit card issued by banks in Mainland China
You need to link your bank card with the App before using it to go shopping. Right now we recommend the debit card with UnionPay brand, as it would be the most convenient and popular brand used in Mainland China.
After preparing these things, we can start to open an account on Alipay. The following tutorial will be mainly based on iOS system.
How Can I Open An Alipay Account on My Phone?
Step 1: After installing Alipay, tap the App and you can see the welcome page. If the language appearing is not the one you are familiar with, please tap “语言” on the top right corner to change the language that you prefer. Right now, Alipay is only available in 3 languages: Simplified Chinese, Traditional Chinese (Hong Kong and Taiwan) and English. Then select languages and tap “保存” to save it.
Step 1: After installing Alipay, tap the App and you can see the welcome page. If the language appearing is not the one you are familiar with, please tap “语言” on the top right corner to change the language that you prefer. Right now, Alipay is only available in 3 languages: Simplified Chinese, Traditional Chinese (Hong Kong and Taiwan) and English. Then select languages and tap “保存” to save it.
Step 2: Tap “Sign up” to start your registration.
Step 3: Please tap “Agree” when you see the Terms & Privacy Policy.
Step 4: Please choose the region of your phone number. Then enter your phone number which is able to receive SMS in Mainland China.
Step 5: enter the 4-digit verification code you received from SMS.
Step 6: Set your login password, which must be between 8-20 characters. (Attention: There will be 2 passwords for your Alipay. one for login and another for payment. Please remember both 2 passwords.)
Awesome! Now you have an Alipay account. However, before using it, you need to link at least one bank card with it.
How Can I Link A Bank Card?
Step 1: Open Alipay App, Tap “Me” at the bottom right corner of the page.
Step 2: Tap “Bank Cards” to link a card.
Step 3: Add a debit card or credit card issued by Chinese Mainland banks.
Step 4: Enter your Chinese bank card number. Then, tap “next”.
Step 5: Fill in your name shown on your Chinese bank card, select your ID type, enter your ID Number and type in your mobile number which has been recorded by the bank. In the end, tap “Agree and Bind Card”. Alipay right now only accept the following types of ID:
Passport
Home Visit Permit (For Hong Kong people who travel to Mainland China)
Tai Bao Zheng (Mainland Travel Permit for Taiwan Residents)
Mainland Identity Card
Step 6: Enter the confirmation code received from SMS. Then tap “Next”.
Step 7: Set a 6-digit payment password and reenter it. This password is only used to do the payment and it is different from the login password. (Attention: We do not recommend our clients to use your bank card password the same as Alipay payment password, for it is risky.)
Then, you will see the following page saying “添加成功” (added card successfully) and the bank card information will appear on your “My Bank Cards” page.
Now you are fully prepared. Why not start to use Alipay to do your first payment?
How to Do the Payment by Alipay?
Generally speaking, there are 2 methods to do your payment: either scan others’ QR code, or let others scan your QR code.
I. Scan Others’ QR Code
It is a common payment method in some small stores, small restaurants, Taxis and personal business. Usually, you can see a sign with Alipay’s logo (left image below) and a QR code sign for Alipay (middle image below) or a QR Code which combines several mobile payment services (right image below).
So when you are going to have the check, you can take out your smartphone, scanning the QR code in the following 3 steps:
Step 1: Open Alipay App, tap “Scan” on the top left corner.
Step 2: Put the QR code into the frame and it will automatically jump to the merchant’s payment page. (If the QR code is on a picture in your phone, you can tap “Album” on the top right corner to scan it.)
Step 3: On the merchant’s payment page, you need to enter the number of payment. Then tap “确认付款” (confirm the payment). The style or structure of this page may be different from the following one according to the third party service that merchants use (like the following right image).
Step 4: Then, it will jump to Alipay’s payment page. You can check the amount of payment here and you can choose your payment method, including balance, Yu’E Bao, debit cards and credit cards, etc. After that, tap “Pay now”.
Step 5: Type in your payment password (not your login password). Then, tap “pay”.
When it jumps to the page shown like the image below, it means the payment finished successfully.
II. Let Others Scan Your QR Code
It is also a common method which you can use in large restaurants, boutiques, supermarkets or convenience stores. It is easier and more efficient as you do not have to enter the number of payment and password.
Step 1: Open Alipay App, tap “Pay” on the top left corner.
Step 2: Firstly, select your payment method (left image below) and then let cashiers scan your QR code (middle image below) or put your phone face to the sensor (right image below). (Attention: This QR code is only used to pay instead of receiving money. Do not let others scan it except cashiers. Do not do screenshot and send it to others.)
Awesome! The payment is finished! Now you can use mobile Alipay as your electronic wallet.
How Can I Transfer Money to Strangers or My Friends?
I. To Strangers or The Guys You Won’t Transfer Money A Second Time:
Step 1: Open Alipay App, tap “Collect” on the top right corner.
Step 2: Now you got your QR code. Either tap “Save image” or do a screenshot to save it. Then, send it to the one who need to pay you and ask them to scan this QR code. The money has been transferred to you will automatically be added to your balance.
II. To Friends:
Step 1: Open Alipay App, tap “Friends” on the bottom right corner.
Step 2: Tap the “+” button on the top right corner. Then tap “Add Contacts” to add a friend.
Step 3: Enter your friends’ Alipay Account/Mobile Number/Taobao Account to search. Then, tap “Search” on your keyboard.
Step 4: Tap “Add” to add your friends and then send him/her friend request to verify yourself.
Step 5: Wait for your friend to accept your friend request. After receiving his/her message, tap the “+” at bottom right corner and then tap “Transfer”.
Step 6: Enter the amount of money (required) that you want to transfer to your friend and add your remark (optional) to continue. Then, tap “Confirm”.
Step 7: Similar to Step 4&5 of “Scan others’ QR code” part, please select the payment method and enter your payment password to finish your transfer.
Bravo, now you are the master of mobile Alipay! Still have any questions? Why not check the following Q&A part to find the answer?
Q&A
Q: Can I Turn My Alipay App into English Version?
A: Of course you can. If it is your first time to use Alipay, you can change your language at top right corner of Sign up/Login page.
If you passed Sign up/Login page, don’t be panic! You can still tap “Me-Settings-General-Multiple languages” to select your preferred language.
Q: How Can I Login/Logout Alipay?
A: Open Alipay App, tap “Me-Settings-Log Out”. Then you can select to either login with another account or logout.
Q: Is Alipay Safe?
A: Generally speaking, Alipay is safe, as long as we can be careful with protecting our personal information. Please always remember and follow these instructions below:
Never tell or show either your payment password or login password to others.
Pay attention to your surroundings when you are typing your password.
Do not setup any easy password, such as “123456”, “111111”, “password” or your birthday.
Never show or let others photograph your payment QR code.
Never download any suspect software on your phone and never click any suspect URL link on your email.
Q: Can I Use Alipay in the USA/Globally?
A: Yes, but it may be a little difficult for you to find a merchant in other countries. Right now, Alipay is trying to spread its influence throughout the world. However, its localization seems not so active. The following 2 pictures were photographed in New York. It is interesting to find out that Alipay’s advertisement in New York only contains Chinese characters instead of English ones. (As far as we know, the condition in Tokyo is similar to New York as well.)
Therefore, perhaps Alipay is still targeting at Chinese visitors or Chinese students instead of local people in other countries. Because of it, you may not have a brilliant using experience out of China.
Q: Alipay vs Paypal. Which One Is Better in China?
A: It depends. If you would like to trade with local Chinese merchants or just visit or live in Mainland China, we recommend our clients to use Alipay as it would be very convenient for you.
However, if you want to trade with international merchants or enterprises in China, they may prefer Paypal to Alipay.
Overall, few Chinese people know or use Paypal in Mainland China.
Q: How Can I Contact Alipay Customer Service?
A: Alipay customer service hotline: 95188 (China), +86 571 95188 (Overseas)
Alipay official website: https://www.alipay.com/
Mobile Alipay official website: https://mobile.alipay.com/index.htm (Chinese)
https://render.alipay.com/p/s/download?form=chinese (English)
Looking for a Hong Kong online business bank account that you can connect your Paypal and Stripe / Braintree merchant account to? Wouldn’t that be amazing, without the utter nightmare Hong Kong business owners are going through now begging these archaic banks to allow them to deposit their money.
Here at Global From Asia – we know the pain our entrepreneur and hard-working global business owners have been going through. As digital nomads and e-commerce sellers and FBA business owners, we feel the pain ourselves. This is why our clients for our corporate services enjoy working with us – we understand you.
And we know the biggest pain point for almost 2 years now has been – such a basic need – a business bank account solution in Hong Kong.
One with credit cards – for you and your staff. One that can link to your Paypal and Stripe.
We’ve been testing so many and talking to so many – and today we’re talking about one we’ve been following for years.
Neat.HK Business Banking for Online Business Owners
So I am focusing today on their business banking product – Neat Business Account. I know exactly what you guys are looking for – and here is a list of their features:
* Unique Account / IBAN number – you will have your own dedicated account number with Standard Chartered. This isn’t like some other solutions where you have a sub-account and need to put in your TT (telegraphic transfer) banking notes your sub-account number. This is a dedicated account number ONLY FOR YOU And your business. I’m not sure the technical way they got this – but this is the amazing part – that allows you to do the following
* Connect /Verify your Paypal Hong Kong – we have a Paypal Hong Kong guide that gets a lot of attention on how to verify your Paypal. You need a “unique” or dedicated IBAN number. This Neat Hong Kong business solution give you that – unlike other online / virtual banking solutions I have come across.
* Connect / Verify your Stripe HK or Braintree merchant account – similar to Paypal, you need a unique bank account in your company name in order to get Stripe and any other merchant account setup. Don’t worry – this will work here too. We have a full list of merchant account comparison here that is popular as well.
* Issue Company credit cards – You can order credit cards! Yes – finally – you can see a company credit card in your company name here in HK without having to sign your life away and deposit your life savings! Seriously, readers know it is hard to get a Hong Kong credit card.
* Deposit paper checks – many ask how to deposit checks (yes, Hong Kong does still use quite a bit of paper checks). This works too. You need to go to Standard Chartered Bank – in person – and deposit. Can’t do it at the ATM.
* English, Online Banking – and of course, it has online banking. Well, that is actually something we need to write as a bullet point, as some banks we are forced to work with in our partner corporate services agency, don’t have online banking. Or it takes forever to get issued. And the banking is in English.
I think this has huge potential, and I may finally be able to rest well at night when we get new clients for a Hong Kong company (read our Hong Kong registration guide here) setup and – yes – their request to get a local HK bank.
Big Plus – Don’t Need To Come To Hong Kong To Apply
Here is the big – big one – that I know our readers at Global From Asia will love – you can apply and get approved online. So now, once we get this moving smoother – we can help clients open a HK company and HK bank account without needing to fly here.
Can you say…
Game changer!?!
Wow, Hong Kong may be back open for business. It’s been a rocky road since March 2016 but we may be out of the ice age and entering normal business climate.
How I Came Across Neat
I met David Rosa, the founder of Neat.hk a couple years ago when they were in their early stages. He visited me in my TST office and we chatted about the struggles of banking in Hong Kong and Asia in general. I had been doing my podcast already for a couple years then and was helping clients open up companies and banking. I explained the utter nightmare it was to beg a bank like HSBC to please let us deposit money with them.
At that time Neat was focused on the consumer banking side (individual accounts) but he said once that was going he’d work on their business banking solution and let me know.
I also have gotten to know others on his team, and he had been merging with other local Hong Kong fintech startups I had been following.
It’s true – Global From Asia is a great blog and media source for Fintech in Hong Kong and Asia. So I am always getting startups trying to solve this nightmare banking issue find me and send me their new products and solutions.
It is my biggest pleasure to be able to blog about this and give everyone hope. There is light at the end of the tunnel and I really hope this disrupts these archaic banks who destroy small business owners livelihood.
Let’s give power back to the SME and let’s leverage online banking – who needs to visit a corporate banking branch anyway?
Can You Trust This New Fintech Startup?
As I have been telling clients about this new banking solution – some are still a bit nervous. A startup holding your funds is a big ask, not as simple as a social media app where you share what you ate for dinner.
True, I always have to disclose you need to use any financial solution at your own risk. But they are recognized in Hong Kong as an accredited Fintech company and work inside Cyberport. I should get him on the podcast as well.
Ready to go and get this new Hong Kong Business Banking solution? How To Signup?
So I probably have you on the edge of your seat (I hope!) and I have you excited to apply.
If you are starving and about to die of starvation as you have a HK company already and just need a freaking bank account – you can browse over to Neat Business Account and get on their waiting list. I do have a special code that can help you get expedited but am not allowing to link it publicly so if you’re a client of our corporate services division (Unipro) then talk to our client services department to get that going.
Don’t have a HK company yet and now feel more confident you can get a HK company and bank account together – then let’s work together. Check out our HKVIP package and let’s do some business together.
This may have just re-opened the doors to doing business in Hong Kong for online business owners. That plus the corporate tax rate has been dropped to 8.25% (from 16.5%) for SMEs with less than 2 million HKD in revenue. Ice age in HK may be past us, let’s hope and we will keep you updated as this progresses.
Ears On The Ground
Here are some messages we have been hearing on the web that we believe is helpful
have you succeeded with HSBC ? [Surprise] A lot of variables will come into play, especially fiscal residency and company’s “establishment” location. Generally speaking, will be harder for countries like me France to apply in today’s banking conditions. Anyways, NEAT business is good although they are launching and still developping. However pay attention -> they have merchant limits as they are NOT a bank, they can only hold funds under a 2million HKD limit. This means, if you generate large amounts of revenue, you won’t be able to store all of your funds with NEAT, you will need like a traditional bank account for savings for example. I currently work it out this way : 1/ I use sendwyre to do as much as I can with supplier payments and other online payments then send the remaining to NEAT 2/ I use NEAT for other purposes like the mastercard to purchase stuff online, also will do HK based transactions or other operational stuff I may need on a week to week basis. 3/ I have a traditional bank account I was able to open after almost a year of issues and 3 banks denied. This one is not being used right now and I unfortunately pay fees to keep it opened. However the aim is to keep this bank account in order to have a back up plan in case NEAT goes bad + it allows me to grow my business where when I will cross the 2million HKD in balance on NEAT, I start sending over to my bank. Remember -> you may have sometimes over 2million HKD for just couple weeks , in that case NEAT won’t accept your funds. So long term wise, you need a traditional bank too and play around those limits.mobile online forum
Input from Neat, March 2018
Here’s an update from Andre in our GFA Community Wechat group who has this update on the Neat bank situation for HK:
“Ok guys so answers from neat: still no multi currency accounts, cannot currently deposit cash, to withdraw cash standard neat charge of 2.5% is charged, the main partner bank is standard chartered. So currently it’s best just for users purely doing online business.”Andre
Can I wire in USD or other foreign currencies?
Yes, you can wire incoming currencies no problem.
Can we transfer money to EU banks?
For wiring out, you can only send money within HK. But you can use a cross border payment company such as Aurelia Pay.
2,000,000 HKD (a bit over $250,000 US dollar) as of March 2018.
A question from a Client
“I have a question, we set up the neat account and everything went smoothly and the account is open and active now.however, it shows the account only accepts incoming wire.
Is there anyway you can help us with that? I tried looking for information on how to contact the bank directly but they only have a q & a with 15 questions.
the main reason we wanted an account was to pay our supplier in China to expedite the process of importing our product to USA. Can you please give me some information and also if you can let me know how we can open account with a better bank.”
Here is a copy/paste of their latest application form
This form collects information about your company so that we can complete the application without the need to travel and visit our office.
We will gather information about:
Your company
Directors
Shareholders
Ultimate Beneficial Owners (natural persons who ultimately own or control the company)
In order to complete the application you will need the following documents:
Valid Business Registration Certificate – example – (or equivalent for companies not incorporated in Hong Kong)” – example
Photo ID of Directors and Ultimate Beneficial Owners
Neat HK will also help you to generate a Board Resolution that authorise you or one of the directors to open an account with us on behalf of your company. The form is pre-filled and requires just a signature.
NOTE: Please be as accurate as possible – this will speed up the review process and increase the chances of your application being successful.
P.S. You can save your application work at any time and come back to it later on. Just click on the “Save” button and input your email.
Input from Neat, March 2018
Here’s an update from Andre in our GFA Community Wechat group who has this update on the Neat bank situation for HK:
Ok guys so answers from neat: still no multi currency accounts, cannot currently deposit cash, to withdraw cash standard neat charge of 2.5% is charged, the main partner bank is standard chartered. So currently it’s best just for users purely doing online business.Andre
What is Neat HK?
Neat is a mobile current account that makes everything accessible and at ease. It only takes 10 minutes of your time to have a Neat account. You do not have to worry with your local and international purchase, with over 50 currencies available with Neat, they got you covered!
With Neat, you can manage your money anywhere, receive salary and make payments, and send money to your friends.
There is also an available Neat Card for free. It is a prepaid MasterCard issued by ePaylinks. Browse the following incurring fee before you avail a Neat card.
What are the fees needed to acquire Neat HK?
There are no reflected monthly or annual fees and for acquiring a Neat Prepaid Mastercard. However, a lost or stolen card of Neat HK will cost HK $50 for a card replacement.
Each ATM withdrawal with a minimum fee of HK $25 will have an incurring fee of $25. Transaction refund is for HK$4. Those merchants in Hong Kong who are under an international brand is included with 1.5% fee in HKD Transaction Foreign Merchant. When you inquire for your balance on an ATM, there is a fee of HK $4.
Also, a consecutive six months of inactivity will be charged HK$12.5 a month. Unless, the balance is zero.
How to get the Neat HK application?
Neat application is available for both iOS and Android devices. You can just download the app at their respective app stores.
How to get a Neat HK Card?
To have a Neat HK Card, complete the registration process on the Neat Application. The only requirement you need is a passport or a Hong Kong Identity Card.
Is there a Business Account offered by Neat HK?
Yes, there is a current business account offered. There are number of benefits for your business when you use Neat HK for your business!
An increase in productivity will be achieved with Neat Business HK. They offer you tools that can help you operate your business efficiently. The dashboard can give you the insight and control of the progress of your business finances.
Just like the personal subscription, business account is a quick setup. You have the access of your bank account anywhere and anytime.
The offered business account is timely. There are integrated features that automatically organize admin tasks. This feature will help you focus more on your business.
You will be assigned with a dedicated Hong Kong bank account number. Neat supports many e-commerce platforms. This allows you to receive payments and manage disbursements.
More so, business accounts offers a feature that can easily pay invoices and employees.
There is an expense card available to enable your employees make purchase online and offline, and withdraw cash at ATMs.
Now, lost receipts are not a problem anymore. Its feature has an ability to add pictures of receipt.
This business account is still developing. There are two features to be added on its update: powerful reporting and automated accounting.
How to apply for Business Account?
Neat Business Application
You have to fill out the Neat Business Application, information about your company are collected. The catch is, you do not have to travel to Hong Kong to apply for a business account. Filling out this application will only take you 10 to 15 minutes. If you have some things to do, you can save the application any time and finish it later.
Informations regarding the company, the ultimate beneficial owners, shareholders, and directors. The said ultimate beneficial owners are those who naturally owns or controls the company.
The following documents are needed to complete the business application:
Valid Business Registration Certificate (see example)
Passport of Directors and Ultimate Beneficial Owners
Neat also helps you produce a Board Resolution that will authorize you or one of the company directors to open a business account in behalf of the company. The form will be pre-filled and it will only require a signature.
Before you plan to fill up a business account application with Neat HK, please check whether your company meets the compliance requirements.
List of Restricted Nationalities
Afghanistan
Bosnia and Herzegovina
Central African Republic
Democratic People’s Republic of Korea
Democratic Republic of the Congo
Eritrea
Guyana
Iran
Iraq
Lao People’s Democratic Republic (Laos)
Lebanon
Libya
Somalia
Sudan
Syria
Uganda
Vanuatu
Yemen
List of Restricted Industries
Adult related
Antique Dealers
Arms Dealers
Auctioneers
Cryptocurrency Dealers
Defence System
Foreign Exchange Dealers
Gambling and Casino
Jewel, Gems, and Precious Metals Dealers
Nuclear Power
Pawn Shops
Plane Dealers
Products and Services Illegal under Hong Kong Law
Pyramid Selling Schemes
Stock Securities Companies
If you think you meet the compliance requirements, start filling out the application.
What are the features of Neat Business?
Neat Business is yet only dedicated to Hong Kong dollars current account and a local bank account number. However, the company plans to offer a multi-currency account wherein it will support a multi-currency account.
Payments made from anywhere around the world will be received to the business account. Any outgoing payments from local third-party banks in Hong Kong are also supported. However, the outgoing payments to international banks is still about to be offered.
It is also planned that Neat HK and Xero Cloud accounting should be integrated. This is to enhance online banking through seamless accounting and account reconciliation.
Why choose Neat?
Neat is a highly secured mobile currency account that you can fully trust, either you will use it for your business or for your personal use.
You can manage, operate, and send your money anywhere in the world.
Neat may be developed at Hong Kong, but you do not have to go to their office to acquire an account and a card. More so, there are no requirements needed for personal use. Receive payments and send money to your friends
Neat HK is a revolutionized and patented account opening process. .
Get your mobile app at the Apple Store or Google Play!
I remember those first trips over to Shenzhen, China all the way from America and I had no idea where to stay. Lucky for me I had some friends in Hong Kong who had contacts in Shenzhen (I mis-spelt it Schenzen back in 2007!) and they helped arrange a hotel for me.
They also warned me not to answer the door at night! I was so scared.
Shenzhen has improved so much and there are top notch hotels to choose from in the city – a bit overwhelming.
So today, I’m writing this guide for someone like me – on their first trip to China and having no idea which kind of hotel to stay in!
This post first started for our Cross Border Summit as attendees asked for hotels near the venue, and that is how it will start. We will add more hotels as we go along, so check up on this same post in the future!
And as always, if you have recommendations or feedback on certain hotels, please leave a comment at the end of this post!
Now let’s go through some hotel options, go!
Hotels Near Shekou IT Torch Park (Netvalley)
These hotels were near our first Cross Border Summit conference in Netvalley. These next few hotels are within a block or two from our summit, and will “take care of ya”. Mention Cross Border Summit and you’ll receive a discount as well.
Here’s a list of the names, then you can scroll down to find the details for each of these.
This is a new hotel I’m not familiar with, but exactly across the street from the venue. Its its own building, and the management has been pretty friendly with us as we discuss hotel rooms with them. The pricing is:
Self-booking Discounted Pricing:
Room Type /Rack Rate（RMB) /Global From Asia Rate / Buffet Breakfast
Superior Room 608 / 388 One Breakfast
Deluxe Room 708 / 458 One Breakfast
Address: No.6 Industry 6st Road, NanShan District, Shenzhen China
酒店地址：深圳市南山区工业六路6号
Tel: 0755-26766833
This is a big chain throughout China. Some friends even have VIP member cards. Its a budget hotel for business travels. Rates currently range around 200 to 300 Chinese Yuan (about 50 to 65 USD) per night.General Membership Pricing:
Regular Twin Bed 229 RMB (without breakfast)
Business Twin Bed 282 RMB (without breakfast)
The closest one to our summit would be at the Crossing line of Nanhai Avenue and Industry Seventh Road, (gong ye 7 road)
Nanshan District, Shenzhen 518054, China
There are a couple of these near the venue, and plenty throughout Shenzhen (currently 19 in this city alone) and the rest of China!
Hilton Shekou
A top of the line hotel, my friend and podcast guest Steve Marsh says this should be a 6 star hotel if there was a rating! Right in the heart of Seaward in Shekou, top of the line rooms, pool, etc.If you are good at searching for deals the price can be as low as $150 USD a night.This is about a 5 minute taxi ride from our venue, and will be by far one of the highest class there is in town!You can find details and bookings can on their website.
Motel 168
This one feels like the equivalent of Motel 6 in America. I feel like there should be a sign “we’ll leave the light on for ya”. When I first came to China, the 168 meant that there was always a hotel in there that cost 168 RMB. This is back in 2007, that was about $25usd at a 7.4 exchange rate. And the more premium hotel in this chain called Motel 268, meaning rooms started at the 268 rate. Pretty easy to remember and clear before entering.
The number 168 also represents “work” in Chinese. So this chain is also targeting the business traveller.
Nowadays this has turned into just a number in their brand. Tates have increased about the 168 rate and people are still filling the place up! I’d say it is fine to stay in, but will have the simple essentials.
Hanting Hotel
Another big chain throughout China. Like 7 Days Inn and Motel 168, it is for the busy business traveler who is on a budget. Rooms pretty straightforward and basic. They have locations across Shenzhen and other parts of China. I do have friends who have VIP cards and get deals at these places.
They don’t seem to have an English website that I can find.
Hostel in OCT (Overseas Chinese Town)
This one is popular with a lot of entrepreneurs I have known who are passing through.
OCT is a pretty artistic (can we call it hipster?) area in Shenzhen, and will allow you to
You can find their website can at http://www.yhachina.com/ls.php?
The latest lifestyle Serviced Apartment and Hotel – Residence G Shenzhen has debut in Shenzhen on 25 March 2017. The property is complete with a two-floor dynamic community hub; G Club. Part restaurant, part community centre; G Club is the first space of its kind in a hotel or residence in Shenzhen’s Nanshan District. Residence G Shenzhen will cater to the needs of business travelers as well as families looking for a modern hotel or fully equipped serviced apartment with ideal location. The complex will host 178 stylish rooms and serviced apartments ranging from studios to 3-bedroom residences. The rooms and apartments feature modern European design, range from 32 to 174 square metres and combine functionality with high-tech style including complimentary high speed WiFi and user-friendly Internet Protocol televisions with E-readers.
And of course, our friend and ally, Shenzhen Party is another good source for English information. They have the latest hotels in Shenzhen, China. So if this short list doesn’t help you out, I’d suggest you hop on over to their website and browse around. They work hard to add all the hotels as they come (and go)
Plenty of Local Choices
The tricky part is – if you’re on a real budget, where to stay can get complicated. There are a lot of great deals, but they don’t have English websites, and you can’t book in advance – at least not overseas.
What I did was I had my Chinese assistant book for me before I flew over. She searched for hotels near the factories and venues I was looking to stay, and reserved. Many times the hotels won’t need money up front, and will hold your reservation for most of the evening.
Though it was a funny story: one of my earlier trips (think my second trip to China) I had a delay with my flight and finally got to the hotel at about midnight. They didn’t hold my reservation! They didn’t think I was showing up – I think they waited until about 9pm, then released it for other guests. So just find out the terms and conditions of the reservation and how long they will hold it for you. Especially if you’re flying in from overseas – flights are often delayed. Plus you can get a bit lost finding the place, so have a back up at least or a local Chinese assistant to help you out.
Your Favorite Shenzhen Hotel? Any Tips?
Now it’s your turn! Have you stayed over in Shenzhen before? Where did you stay? Was it a good deal, good price? Helpful staff. I’d love to hear all your feedback and ideas. We will work to add good hotels to this list and help new travelers to this unique and growing city called Shenzhen
Are you currently selling on Amazon, in your personal name? Or maybe you have a company in your home country for your Amazon business?
Sales are taking off and you want to start looking global for the right jurisdiction to establish a proper corporate entity.
Then look no further! Today we’ll discuss why Hong Kong is a great place for you to headquarter your Amazon FBA business. Start selling on Amazon US and other global markets from HK and Asia direct.
There are massive courses written on how to sell on Amazon. This guide is focused on setting up your account from Hong Kong, but we also give some general tips on Amazon FBA selling in general to start.
It consists of two parts, 1) Finding a good product and 2) optimizing your Amazon listing once its listed.
Here are a few tools many Amazon sellers use, here are a couple our readers discuss:
Jungle Scout – One of the first and most diverse collection of Amazon seller tools out there.
AmaChete – a newer, more affordable tool for Amazon sellers.
Try out one that works best for you – to dig through the massive amounts of data to find products that have a good opportunity for you.
Easy To Buy From Chinese Factories
Hong Kong is where everyone setups up their business for their import and export business. It is right next door to Mainland China, without the complexities and headaches that you’d get in the PRC.
So your Chinese factories, many of them, will already have a HK company and a Hong Kong bank account, most likely HSBC HK. You can pay them immediately, no fee, and they will receive the funds almost at the same time.
You can envision one of those drug deals in the movies, or hostage situations. One side brings the “goods” (drugs, hostage, etc) and the buyer brings the cash. Well, in more modern action movies, it’s not a suitcase of cash anymore. Instead its a laptop or a code that sends the funds to their bank account with the press of a button.
Not to correlate drug dealing and buying from factories, but you can be inside their factory for the deal. You finish doing a quality inspection, and whip out your HSBC Hong Kong online banking afterwards. Show them you transferred the funds (spin the laptop around and show the screen). Also you’ll have a reference number on the spot. They can check that same instant. They confirm the funds received, and they let the container ship leave the factory dock.
If you do this from an overseas bank, it would at least be 24 hours or so, and much higher fees. Are you buying from many factories and doing a lot of factories transactions often? You can save a ton of time, fees, and headaches by having a HSBC HK bank account.
Low or Zero Percent Tax
The corporate tax rate in Hong Kong is 16.5%, which is low already in the global index. On top of that, if you can prove you’re an offshore business, you can get a 0% exemption on the earnings you make outside of Hong Kong.
If you’re selling in Amazon USA, then, that isn’t Hong Kong right? Enjoy this offshore tax while also being in a great jurisdiction like Hong Kong. This way you can enjoy the legal protection and corporate image. Best of both worlds.
Amazon Has Overseas Sellers Programs That Make It Easy
Amazon allows sellers from around the world to sell in the Amazon USA marketplace. And now that you can piggyback off their fulfillment operations via FBA (fulfillment by Amazon). No longer do you need the headaches of a warehouse and logistics center in USA.
Buy your products from the factory in China, pay from your HSBC HK bank account, and ship them direct to the Amazon FBA warehouse in America.
Once the sales start to come in, Amazon pays out the sales proceeds every two weeks. Get an account with Payoneer and have the funds sent direct to Hong Kong. Nice and smooth.
Don’t get left behind with others who have more complex business operations. Take it from me, e-commerce was a lot, LOT harder ten years ago. Nowadays, you don’t even need a website, just load up in Amazon and get the sales payments twice a month.
Credit Card + Phone Verification
We have gotten a lot of attention from Amazon entrepreneurs going through the HK setup process, and a good question we received is below:
A problem I see is they’re asking for an international credit card (which my HK company does not have- just UnionPay). How did you do it? some of their support articles and comments from people on the internet seem to indicate they need to verify that you have a phone number in HK too.Alvaro
This is why we suggest people to apply for a credit card at the bank – the same time they go in for a new account opening.
Phone number, people use online numbers like Skype in.
Can Grow Into More Business Opportunities Later
Selling on Amazon is a great business. Lots of people are making good monthly income from. But maybe once you get the sales coming in and the business running, you want to try something else.
No problem, you can leverage the power of this Hong Kong company for your new venture too! You can apply for the many merchant account options and get that connected direct to your Hong Kong business bank account. Open your own shopping cart and pay direct via Shopify or another cloud based shopping cart.
Can You Sell on Amazon USA with a Hong Kong company?
Yes, this is possible. You register your Amazon seller account with your Hong Kong business registration certificate. It will ask you a million and one times if you are American or not. You need to be a non-American to do this – legally. But for those non-USA citizens, this is a great way to connect your Amazon USA sales to your Hong Kong business.
You can then have Amazon send money to your Payoneer or World First account and then receive the funds in your Hong Kong bank directly. With the funds in Hong Kong, you can then directly wire money to your Chinese factory. Often times they have a Hong Kong bank account, such as HSBC, so there are no fees and the transfer happens within seconds.
Talk about fast and efficient! This is pretty close to F2C (Factory to Consumer) – you can also read up a blog post where we discuss F2C
Will I Receive USD or HKD (Hong Kong dollars) from Amazon payments?
The next most popular question is what funds you will receive. Most think they must receive Hong Kong dollars and get hit on the foreign exchange (FX) fees. But there are other options. We discuss this a lot in our member’s forum for client.
Here’s an interesting answer from one of our clients:
There are a couple of companies that can keep your money in USD and have way lower fees than Payoneer. We are looking at OFX right now and also World First. OFX has an office in HK. Looks like that is what we will do. And then link to Hk bank account once we have itGFA Client
Many of our clients have also been using Remitsy as a way to get money into China successfully while banking is pending.
Of course, these policies and fees are always changing, so best to ask these service providers.
Connecting HSBC HK to Amazon
While there have been people saying that Amazon won’t wire to Hong Kong – I have had readers (as of October 2016) tell me that they can add their HSBC Hong Kong business bank account to their account directly.
No 9 digit routing — and few people online say dont use first 3 of the 12 number of your account (say 1st 3 numbers are bank not account number)
After a lot of chats with Amazon seller support, my contact was able to connect his HSBC Hong Kong bank directly, simply by choosing Hong Kong and then using the above trick to get the account number to fit. Others please help update me.
Doing Your Amazon FBA Bookkeeping
So once people get the Hong Kong company setup for their Amazon business, they then ask how do they best balance their accounting books? While there is no difference in bookkeeping for an e-commerce business as there is for any business, there is a setup that many sellers have been using.
This is called A2X Accounting – it is a plugin on top of Xero software that connects automatically to FBA’s database and imports all your sales numbers in. This way you can save time from data entry as well as worrying about “fat fingers” and other issues with humans.
What Do You Think? Ready to Leverage Hong Kong for your Amazon FBA Business?
So I know how stressful it is when structuring your corporation. Or even more stressful it is to restructure and close down a company and move funds and assets to another. But that is the only way we grow and stay competitive.
I’d love to hear any and all comments. Maybe you don’t agree – please share! You should be at a certain level to maintain the upkeep costs of an international business. And also able to come to Hong Kong at least once for the bank account opening. We offer services for Amazon sellers and online business owners who aren’t in Hong Kong to make the process as simple and smooth.
If you like this article and blog, we’d be ecstatic if you’d consider our HKVIP Hong Kong registration package. We will take care of everything from A to Z. We work with a lot of Amazon sellers and will give you pointers and tips we have seen along the way.
Even one of those tips during the setup process could save and make you thousands of dollars, so we hope to see you soon!
