G'day fellow digital businessers!
We have a HONG KONG company, with a Multi-Currency ($USD) account in Hong Kong with Citic Bank.
We would like to use HK Stripe to accept USD online sales
into our $USD Hong Kong bank account so we can then pay our $USD suppliers [Facebook and ourselves]
without having to convert currencies in and out twice.
>> Is this possible?
At the moment all I can figure out is to accept $USD sales
stripe converts it into $HKD
and then we have to convert again into $USD to pay ourselves and suppliers,
as Stripe needs you to have your bank account in your country of currency it appears.
What are our alternatives if it's not possible?
Can a HK Company setup a bank account in the US to deposit our funds into and not be taxed in the US? Obviously the whole reason we went to the effort of setting up the HK company was to avoid the tax in the first place.
Should we just take the currency conversion fees? Is that the cost of trying this setup? Surely I would have thought someone has figured this out smoothly?
Maybe we can setup our Facebook Ad account to pay in HKD, that might reduce our biggest expense.
Cheers for any insights, this has been a long confusing path!