After the 2019 social unrest and gradual calmness following the extradition bill controversy in Hong Kong, my friend and I opened a currency exchange store around November of the same year. Our main business was currency exchange and remittance services. However, due to the time required for the customs financial license application, we were unable to start operating the business just yet. We had already paid $24,000 for store handover fees, $36,000 for a one-time deposit, and monthly rent of $18,000. We spent hundreds of thousands of dollars in about six months.
As one wave subsided, another one rose in 2020 when the COVID-19 pandemic spread and the government implemented work-from-home measures for its departments. The approval for the customs financial license was further delayed, and we became very anxious.
With only expenses and no income, I looked for a way to raise some quick capital. I got introduced to a drug dealer through a former colleague. Continue reading From remitting to on remand