What Every Entrepreneur Must Know Before Setting Up a business in China, Hong Kong, or Singapore.
- Roman Verzin
- Jun 16
- 3 min read
Updated: Jun 20
Thinking about starting a business in Asia?
If you’re from a country like those in Central Asia, the Middle East, or Africa — where the system often labels you as “high-risk” — starting a business abroad comes with extra challenges.
It’s not just about having a good product or big goals. You also have to prove you're legitimate to banks, governments, and partners in every step.
Let’s walk through what you must know before setting up your company.
Step 1: Start With the Structure, Not the Stamp
It’s tempting to pick a country, find a local agent, fill out a few forms and boom, you’re international.
But here’s the truth: Most failed setups didn’t fail because of fraud, but because the founder didn’t map a clear company structure first.
Ask yourself:
Who are your clients and suppliers?
What exactly do you do?
Where does the money flow?
Here is how structure affects set up success: Real Cases.
Founder Setup | What Went Wrong | Lesson Learned |
China company to re-export to Kazakhstan | Couldn’t re-export without importing and paying tax | Understand local trade regulations before incorporating |
UAE company to pay Chinese suppliers | Payments blocked due to UAE’s high-risk banking perception | Choose a country accepted by your partners and banks |
Singapore company with no office | Bank rejected the account application due to lack of “real substance” | Compliance isn’t just paperwork — substance matters |
HK company with vague business model | Bank flagged application for unclear operations | Clarity in model and documents builds trust |
Step 2: Answer these 8 questions
If you’re serious about going global, these are the questions that make or break your setup:
Where is your company registered — and why?
Who owns it and how much?
What exactly do you do and can you explain it clearly?
How do you present yourself to banks and partners?
Is your compliance clear and documented?
Are your contracts readable or red flags?
Do you have real substance or just a name on paper?
Can your story hold up under scrutiny even across borders?
These questions are especially important in places like Hong Kong, China, and Singapore, where your “business model” must make sense not just to you but to a compliance officer.
We’ve seen people from all over CIS, Africa, and the Gulf who weren’t doing anything wrong. They just came from countries that triggered extra questions.
When the system treats you like a risk, your defense is clarity.
Step 3: Know the paperwork maze and how to survive it.
In China, you may need an ICP license just to run your website.
In Singapore, you’ll be asked for your real office address.
In Hong Kong, your bank might reject you — without explanation — if your structure feels ‘off’.
It’s not just about legal setup. It’s about:
Opening a business account in Hong Kong that actually works.
Proving your company isn’t a shell.
Avoiding blacklisted jurisdictions
Knowing how banks review your documents
Bonus tip: your website, pitch deck, and contracts are part of the review.
FAQs: Read this before you google again
Can a foreigner open a company in Hong Kong? Of course — but your passport, business activity, and partners may raise red flags. You need a clean structure and strong documents.
How long does HK company registration take? Around 5–7 business days, but opening a bank account can take longer — especially for high-risk profiles.
Do I need an ICP license in China? Yes, if you’re hosting a website on a Chinese server. For foreign businesses, that often means using a local partner or creating a representative office.
Final Thought: You’re Not Alone
We’ve been there too.
That’s why United Suppliers Group was built to help entrepreneurs from complex markets do business legally, globally — and with dignity and without stress.
Don’t rush into incorporation. Start with clarity.
Read more about setup a company in Asia? Visit our blog for full guidance Speak to someone who’s done it before? Book a 30-minute call with our advisors.
