As we known, Hong Kong company easy to set up, but hard to open local bank account. Because of many policy variables and proactive measures, having a Hong Kong account can eventually provide a lot of convenience.
Advantages of HK Bank Account
l Without foreign exchange control, funds can be freely allocated;
l Facilitate the settlement of funds in international trade;
l Exemption of interest tax and higher real earnings of deposits;
l Various currencies can be converted freely.
l The daily operation of the account is simple, and the online bank can be opened for transactions.
l Facilitate trade financing to international banks；
Reasons for Refusal by Bank
l Increased demand for bank accounts
l Low bank profit
l The data are not ready
l The company name has sensitive vocabulary
l Shock the World Illegal Organizations
l The government's financial supervision is becoming stricter and stricter
l Shareholder directors come from sensitive countries
l At the time of face-to-face, the bank did not trust him
l Don’t meet with the bank requirements
Most Hong Kong companies will open an additional bank account as a backup to maintain the normal operation of the company.
Normal Documents required for Hong kong company account opening
1. Full sets of Hong Kong companies’ documents
2. Identity Card/Passport + Hong Kong and Macao Pass
3. Proof of LivingAddress
4. Business Proof
Time : About 1-2 months (different banks, different schedules)
So, which bank would you like to open ?
For more details, please feel free to get back to me.
Add: Room832-833, Garden Tower Office, No.368 HuanshiDong Rd. Yuexiu District,Guangzhou (Metro Line 5, Taojin Exit A)