Hong Kong bank account is necessary if you want to set up a company in Hong Kong. Compared to some countries in the world, opening a bank account in Hong Kong is relatively easy and straightforward. That’s way many investors choosing to open an offshore account there. You can set up different accounts for different purposes. Most of the world’s major banks have a presence in Hong Kong. HSBC, Hang Seng, and Standard Chartered are all popular with expats. Tannet has cooperation with some renowned banks, we can take care of the bank account opening process for you with high quality service and favorable price.
Importance of Hong Kong Bank Account
Hong Kong's financial institutions have begun the GRS policy, which has led to tougher scrutiny of bank accounts in Hong Kong and a greater lack of success rates, making it harder to open an account in Hong Kong.
If the company has no bank account, then how to collect payment from customer, how to apply for the L/C and how to cope with a large amount of cash flow? The bank account is one of the conditions that must be considered when deciding whether to open a HK company.
Hong Kong offshore company has obvious operating advantages, and a Hong Kong company must be equipped with the bank account can be effective operated. Opening an account in an internationally renowned, recognized, reputable Hong Kong bank can also reinforce other people's confidence and trust in your company.
How to Open a Hong Kong Company Bank Account
To open a Hong Kong ban account, basically you need to provide the following information:
1. Company registration particulars, including Company Registration Certificate, Business Registration Certificate, Articles of Association, etc.
2. Identity certificates of shareholders, directors and signers;
3. Proof of address in the last 3 months;
4. Business transaction particulars, such as orders, purchase and sales invoices, contracts, bills of lading, etc;
5. Registration particulars of affiliated company;
6. Personal and affiliated company’s bank transaction records in the last 3 months.
How to Maintain a Hong Kong Company Bank Account
1. Do not collect funds for other people, resolutely prevent any fund exchanges with underground Banks, and avoid any payment contact with the sanctioned countries;
2. Do not trade with countries in high risk areas: try not to trade with countries that are economically unstable (such as Iran, Syria, or North Korea) with sanctions;
3. Don't participate in money laundering transactions: if the account involves transferring foreign exchange, money laundering, etc., which is illegal and will lead to accounts to be frozen and personal reputation affected;
4. Keep the account with a certain amount of deposit to pay the bank charges;
5. Use your account regularly for accounts could be closed for more than 3 months’ inactivity;
6. Timely audit to ensure the normal operation of your Hong Kong company.
Types of Bank Account Service
1. Offshore bank account opening;
2. Hong Kong local bank opening.
Tannet is glad to help clients open a account in Hong Kong. With appropriate tax arrangements, we can save a large amount of tax expenses for our clients.
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 86-755-82143512, 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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