HK Bank Account Opening
Hong Kong is definitely well known for its banking infra-structure. There is no restriction for fund flow into or out of Hong Kong bank accounts. The identity of account holder and transaction information are also subject to very high standard of confidentiality. Excellent cash management facilities, Internet banking that helps keep track of money movements, trade financing, short term and long term loans are the key finance requirements of any enterprise. Comparing with some kind of offshore bank account available in certain country, the benefits include :
Clear location of bank account
The accounts are opened in Hong Kong. But some offshore bank accounts are in cities, such as Shenzhen or small offshore islands. Client may never have the opportunity to visit the bank.
Lower minimum bank account balance
In Hong Kong, the minimum bank account balance can be as low as HKD 3,000. Below which a monthly administrative service fee of around HKD 50 will be charged. However, minimum balance of most offshore bank accounts is around USD 5,000 and corresponding service fee is around USD 50. The difference in service fee is 7 times.
Cash deposit and withdrawal is possible
Client may deposit and withdraw fund by cash or by transfer via any Hong Kong branch office of banks. However, for most offshore bank accounts, only wire transfer is acceptable.
Available to all nationality
In China, foreign banks offer service of offshore banking for foreigners and foreign companies (such as a Hong Kong company and other offshore jurisdictions), however, in case of a company, banks request that majority of the shareholders are foreigners. For some sensitive nationalities, it will require for the permission from the bank to get the appointment before the foreigners take the time to go there for visit;
Visiting Hong Kong
According to company's quorum stated in the Articles of Association, if there is only 1 director, such director must visit bank in person for business account opening meeting.
If there are more than one director, at least two director needs to attend meeting. Other shareholders, directors and bank operator shall verify their identity documents & signatures if not attend meeting in Hong Kong.
Different banks have different requirements for account opening. In general, business plan, address proof and passport copy are required and it will take approximately one to two weeks for the process, due to the bank efficiency, the time may be prolong to 12 months;
Tannet Can provide the clients with bank account opening in the following banks:
2. Hang Seng Bank,
3. Bank of China
5. Taiwan Bank
Should you have any further inquiries, please feel free to contact with us by calling at 86-755-82143422 or email to email@example.com
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