Legal guide Statistics 17 Jan 2001, Hong Kong Dr. Ecommerce, We have tried to open a merchant account overseas, however, some of the countries require an establishment before a Merchant can be opened.
Several banks allow an overseas company to open a merchant account in Europe.
But some of the customers may be from Europe. I don't know, different banks may have different policies in the same country and policies change. If you were to open a merchant account in Europe, you would not be subject to any European taxation on income earned. You would, of course, be subject to Hong Kong tax on that income. Theoretically, this is payable at the port of entry.