Category Bank Introduction

Private Banking Hong Kong

In a very attractive and competitive environment Private Banking Hong Kong is a solution for International Entrepreneurs willing to diversify their risks.

First let’s address the elephant in the room, private banking isn’t personal banking and the difference is just a question of amount, USD 1 million and more and you access private banking, anything less and you should remain in your country of residence.

Services of Private Banking Hong Kong are given by local banks and international banks, the city offers a very important choice of banks, the teams are well trained, the investment opportunities numerous and the overall business environment is favourable.

Advantages of Private Banking Hong Kong

  1. Ease to invest on mainland Chinese stocks
  2. Access to multiples IPO’s
  3. Higher returns expectation, the portfolios are more aggressive as most of the clients are high demanding

Disadvantages of Private banking Hong Kong

  1. Confidentiality training to the team is less efficient than in Switzerland or Luxembourg, culturally the confidentiality doesn’t have the same importance in Asia.
  2. Higher returns also mean higher risks, Chinese mentality towards betting is well demonstrated in the Casino attendance with 90 % of Chinese visitors
  3. Bank compliance is less trained on wealth acquisition outside of China so might ask questions of a lower level than expected

Introduction to Private banking Hong Kong is usually made through wealth managers, lawyers, tax advisors and Corporate services Companies with the support of an adequate compliance report

Hong Kong bank details

In order to transfer funds to an individual or a company the Hong Kong banks details should be completed as follow.

Account holder name: Example limited

Account holder address: 33 F. imaginary building, 99 example road, district, Hong Kong

(Hong Kong doesn’t have postal code)

Account number:

The account number in Hong Kong is composed of 9 to 12 digits, the first 3 being the branch code.

account number in Hong Kong should look like this :  123-456789-111

SWIFT code: Hong Kong doesn’t’ use IBAN

Hong Kong bank details are easy to complete, the SWIFT code can’t be found by googling the Financial intuition name and location.

There is no reason to provide your Hong Kong bank details, except of course on an invoice, you should protect your information and be aware of potential scams.