for the entrepreneurs: setting up your corp overseas (a la Hong Kong)

from a good entrepreneurial/remote-lifestyle blog i've been following for awhile

We heard about offshore corporations, but we thought they were the domain of the rich and powerful– the jetset and ballin’. That’s changing. The barrier to entry is lower than ever. The information is out there. It’s feasible for most internet business owners to get set up in Hong Kong, Singapore, the British Virgin Islands, or elsewhere. If you run your business from your laptop, you can enjoy the same benefits that the rich, powerful, and jetset have for decades

some points that caught my eye - they describe it as easy, relatively cheap (minus the fact you actually phsyically have to go there to set up the business bank account), corporate tax rate is 0% for transactions outside the USA, a lot more write-offs are allowed, and "Hong Kong is recognized as a world leader in banking & business business."

sounds pretty tempting the next time I make my way through Asia, thoughts Monkeys?