Open a new Hong Kong bank Account

The basic necessity of any business

Opening of Hong Kong-based Bank Account Offshore Bank Account Opening

Open a new Hong Kong bank Account

Is the incorporation of a company in Hong Kong your dream? If yes, then you should know the essentials required for the same as opening a bank account, the company papers, etc. Your company needs a business bank account for handling the business revenues and transactions in the same way as every company needs a bank account.

A bank account is a necessity of your business and its process should be taken seriously. Therefore, it becomes essential to make sure that all your and your business’s needs are being met.

Bank account in Hong Kong can be opened in three different ways, they are mentioned below:

An international bank account is crucial for diversification of your business globally. This account is opened in a country other than the country in which such company is incorporated. It protects from various potential and economic risks and capital control, therefore we suggest to open an international bank account for your business in Hong Kong.

Advantages

The advantages & benefits of the international bank account are:

  • No personal visits are required as the whole process is online.
  • High approval rate and a support team learned in language.
  • Capability to run the account with different currencies and a low exchange rate.
  • Easy connection of debit and credit cards with different countries.
  • Exclusive international policies and discounted payments.
  • Online banking without any interruption.

Disadvantages

  • The minimum balance amount varies from bank to bank and some banks have a higher minimum balance criteria.
  • The minimum balance is to be maintained every time and the amount may also vary.

We introduce your company to two business weeks:

The bank information requirements are usually addressed through the company’s formation provider, and if you chose us as a company secretary, we will assist you in the same. And as we already have all the required information about you, we can easily provide the bank with the required details.

We will help you to process your application further. The documents required in this process are:

  • Company documents
  • Business description in the nature of the business, eg no of employees, etc.
  • Due diligence document including the certified copies of all beneficiaries and the proof of their residence.

Bank account in your own country (self- setup)

It is essential to set up a bank account in the country of your own choice for the Hong Kong business. You need to apply for the bank and upload the apostilled documents including:

  • Business registration certificate
  • Certificate of incorporation
  • Article of Association
  • NNC1 Incorporation Certificate

If you don’t have the appropriate documents, we can help you provide them with minimal fees. Once you have documents in your hand, you can apply for the bank of your choice.

Opening a Hong Kong bank account remotely has become difficult due to the Know Your Customer Policies and the Hong Kong bank ordinances.

For opening a bank account in Hong Kong, a person has to be present for the meeting with the beneficial owner with directors and more than 10% of the shareholders of the company.

Advantages Disadvantages Requirements Documents required 100% preparation Bank Account Opening Appointment

You can also enjoy the free PayPal business account consultation and set up. It is an excellent package that many customers enjoy, which includes:

  • Discounted PayPal transaction fee
  • PayPal integration consultation
  • PayPal merchant welcome kit
  • Bank Account linkage
  • Express PayPal Business account setup
  • Support before, during and after the account has been open on PayPal by a Dedicated Business Consultant.

Keep in mind that the PayPal account set up would need a Hong Kong bank account.

Advantages

  • 100% guarantee against unapproved payments.
  • Get everything done fast online.
  • Open an account easily.
  • Lower fees for transferring money abroad.

Disadvantages

It is a private company that is not regulated by any banking rules. And it can freeze an account without approval if there are any fraudulent activities suspected.

Any documents that are submitted to the bank must be properly certified. It also needs to include the name and the contact details of the certifier. You can get assistance in this case from Future Perfact Global where they would provide with the certifications from a public notary or a CPA.

Moreover, the documents that are presented in the bank have to be in the English language. And if there is any translation made, it has to be done by a certified translator. With the help of Future Perfact Global, you can get the assistance in most of the tasks mentioned above, unless and until it is a thing that you need to do yourself.

Opening of Hong Kong-based Bank Account Offshore Bank Account Opening

BANK ACCOUNT OPENING DISCLAIMER: Be aware that banks reserve the right to decide whether to open a specific company account. Future Perfact Global itself is neither responsible nor liable for any bank’s decision. Although customers may succeed in opening certain bank accounts within 15 working days, most of our clients normally enjoy company account opening within 15-20 working days once the banks receive full due diligence. In some cases, if a bank requires further information, or a local holiday occurs, there can be several days’ delay. If you hire Future Perfact Global services to assist you with the bank compliance, please be aware that we spend time on consulting and preparation for your particular case. As we are not responsible nor liable for any of the bank’s decisions, all fees paid shall not be refundable under any circumstances once the introduction is made. Future Perfact Global reserves the right of the final decision in case of any dispute. Please note again that all bank account opening and decisions are made solely by the banks, and Future Perfact Global does not take responsibility for the bank’s decisions.