Bank Account Opening Service

Hong Kong Bank Account Opening Service Hong Kong is a great city for doing business and an ideal stepping stone into China and the Asian Pacific Region. Unfortunately, it has recently become much more difficult to open a bank account in Hong Kong due to a flood of new banking requirements stemming from newly introduced laws and regulations from various organisations (e.g. the Hong Kong Monetary Authority, the Financial Action Task Force, the OECD etc.) in order to comply with new global standards regarding Know-Your-Customer Policies (KYC), Anti-Money-Laundering (AML) etc. Our solution As a banking expert and professional service provider we comprehensively analyse and recommend on the best approach regarding the company incorporation together with the bank account opening in Hong Kong. We are here to support our customers in the daunting and complex task of preparing the account opening documentation. 8 - 12 hours of detailed preparation must be expected. Services include: In-depth understanding of customers background and business expectations (incl. discussion with our network of professionals consisting of accountants, CPA's, lawyers etc.) Advising on the appropriate company structure and selection of a suitable banking partner Arrange for a bank meeting for the corporate bank account opening Preparation of certified documents of the Hong Kong company by a CPA etc. for the bank Preparation of the required and in-depth KYC profiling / files for the bank Meeting and preparation of customer prior to the banking interview to explain the interview process and which additional questions to expect (one hour interview) We accompany customers to the bank and in some cases join during the bank interview meeting Debrief meeting with customer and follow up with the bank if required We offer our Bank Account Opening Services free of charge if we are also mandated for the company incorporation, otherwise we will assess your particular situation and provide a quotation. AZUR is headed by Franz Loschko, a German national who has lived and worked in Hong Kong since 1996. He has gained extensive international banking experience having worked with HSBC and other leading German banking institutions. We are well connected within the banking industry and are up to date on any current / upcoming changes. AZUR is best suited to help you successfully open your bank account.

Conpak has established a strong business relationship with Hong Kong’s international banks and courteously provides bank account opening service in Hong Kong. We will handle for enterprises the formalities for opening bank accounts with international banks in Hong Kong and assist them in making appointments with banks and the preparation for relevant documents needed, depending on the actual circumstances of such enterprise. The documents needed may include certified documents from accountants (issued by certified public accountants of Hong Kong), business licenses, director’s declarations and minutes of the board of directors.

Get Started HK is a full-service first-tier company formation agent in Hong Kong. The company has solid connections with the Hong Kong Special Administrative Region (HKSAR) Government, HK Invest Center, Big 6 Conference, and OCBC Wing Hang Bank, and highly respected name in commercial circles throughout the startup community. Get Started HK specializes in offshore company formation and taxation matters, and mainly provides service and advice to small and medium enterprises.

KPC corporate services team have over 11 years expereinces in assisting overseas clients in handling bank account application in Hong Kong. Our professional team will be guiding and assisting throughout the whole bank account opening process.

SMART ACCOUNTING provides professional services to assist clients in bank account opening. With our close working relationship with the banks, we can make your bank account application easy. We can guide you through the application process step by step, helping you reduce the chance of submitting incorrect or insufficient documentation to the banks.

Hong Kong has one of the highest concentrations of banking institutions in the world with 199 authorised banks and 64 representative offices as of end December 2015. Around 70 of the largest 100 banks in the world have operations in Hong Kong and its stature as a key financial centre is built on its high standard of market transparency, disclosure and prudent supervision. A company – be it resident or non-resident in Hong Kong – will require a bank account to undertake any kind of business. Opening a business bank account in Hong Kong used to be a relatively straightforward process but, due to recent regulatory changes, it has become more difficult. Global initiatives against tax evasion, money laundering and terrorist financing in the past decade have obliged banking regulators to impose enhanced customer identification and due diligence procedures on financial institutions, backed up by increasing penalties for violations. As a result, banks have had to adopt a risk-based approach to account opening. Customer identification requirements vary depending upon the size and type of business. A financial institution will request information showing the legal existence of the entity, such as certified articles of incorporation, a business licence or a partnership agreement, as well as details about individuals with ownership or control over the account, including beneficial owners, signatories and guarantors. Financial institution will further request financial statements and banking references, as well information on the purpose of an account, the source of funds, the anticipated volume of currency and total deposits, the level of revenues, and the primary customers and suppliers. Hong Kong banks are more likely to open an account for you if you have, or are planning to have, an office in Hong Kong, employ staff in Hong Kong, have customers or suppliers or both in Hong Kong etc. In other words they are looking to see real substance in Hong Kong, both for new businesses being set up in Hong Kong, as well as for subsidiaries of foreign companies. You may only get one chance to open a bank account in Hong Kong. As a professional services provider in Hong Kong, Sovereign has long standing relationships with a broad range of Hong Kong banks. We know the policies and criteria of different banks and can help to determine which one will be the best fit for you. We can then guide and assist you with preparing your application and supporting documentation to maximise your chances of success, before effecting an introduction to your chosen bank. There are also a number of international banks that will open accounts for Hong Kong and offshore companies. Such banks generally only work with qualified introducers, such as Sovereign. When you have generated at least six months of account activity with an offshore bank, a bank in Hong Kong is more likely to accept your application because they can more accurately assess risk by analysing your account history. You will also have more supporting documentation in place after six months of trading. Our fees for attending to the account opening procedures are from US$1,000, plus the costs of preparing any additional notarised documentation that a particular bank may require. For more information, please visit the website at https://www.sovereigngroup.com/hong-kong/offshore-bank-account-opening-in-hong-kong/