How to guarantee a HK bank account opening? Hong Kong has long been a hotbed for businessmen with budding business ideas. Incorporating a company in Hong Kong is quick and easy. However, due to anti-money laundering and other regulations, it is more and more difficult to open a bank account in Hong Kong nowadays, especially for those foreign businesses coming from some sensitive countries and regions. Although it is hard, Tannet has some resources. We can help you get an account with OCBC Bank which do not have much limitation on the nationality. And we have already helped a couple of clients successfully get such an account last month.
Open a Bank Account in Hong Kong
Based on the cases and experience, we compare and see there are four Steps to get a guaranteed Hong Kong Corporate Bank Account as a Startup:
1. Get a basic understanding of the relevant bank policies
In Hong Kong, whatever banks you applied for bank account opening, the bank manager will have the right to know all the details of your business and all beneficial owners. They are required to take all reasonable steps to establish the true and full identity of each of their clients, and of each client’s financial situation, investment experience, and investment objectives.
Hence, all applicants should prepare the listed questions:
(1) What’s the nature of your business?
(2) Where are your clients and suppliers based?
(3) What’s your business plan in latest years?
2. Choose a right bank
Seventy of the largest 100 banks in the world have an operation in Hong Kong. Different banks have different tastes for their customer types. Tannet recommends you to open an account with OCBC bank, as mentioned before, it does not have much limitation on the nationality.
3. Prepare sufficient documentation
Requirements differs based on different banks, here Tannet gives a list of basic requirements for your reference.
(1) Proofs of business transaction: A clear set of business portfolio will be asked to ensure applicants are in real need of business transaction.
(2) Proofs of Address: Bills issued in 3 months with the applicant's name and address on them, such as water bills, electricity bills, bank bills, insurance bills, mobile bills, and letters from the government, etc.
(3) Unified signatures: Make sure to sign all documents by yourself.
Note: Both business or personal certificates are required to take the original ones. All certificates are in the period of validity.
Maintain Your Hong Kong Bank Account
How to maintain and use your Hong Kong Company bank account wisely after company formation in Hong Kong do closely connected with you. Below are the Do's and Don'ts over Hong Kong bank account maintenance.
1. Keep well of monthly bank statements, bank receipt, bills;
2. Maintain well of your Hong Kong company related files;
3. Timely accounting and auditing is required;
4. Have sufficient account balance to pay account service fee monthly;
5. To avoid the remittance from and high-risk countries.
In addition to OCBC bank, Tannet can also introduce you to Bendura Bank and Cyprus bank. When you open a business, one of your first tasks should be to open a business bank account. This is of great importance because it helps you manage your finances. Should you have such inquiry, we are glad to help.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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