One of the key requirements for operating a business in Hong Kong is a valid bank account. However, it is not uncommon to get companies whose applications for bank accounts have been rejected. In other cases, bank accounts are being terminated.
What do you do in such a situation? In this post, Hong Kong: Introduction for opening a bank account, we explore solutions if your request for a bank account is rejected or the account has been terminated. We also tell you why our services guarantee clients of more than 99% success.
Was your bank account request was rejected?
While some agencies assisting foreign companies to establish themselves is significant, most of them are not doing the right job when it comes to assisting their clients open bank accounts. They only ask for a few documents that do not help to build a solid case to convince banks to open new accounts for foreign companies.
In such situations, the bank accounts are rejected, and the companies are left helpless because they cannot transact. If the agency you contracted to assist you to open a bank account does not have the right idea to restart the entire process, the application will get rejected again, and the situation could jump from bad to worse.
However, we can help! Yes, we can get you the bank account you need. Today, there are few banks that are accepting foreign bank accounts and we know how to go about the process. Simply reach us for details on how we will get your account and your company will be up and running as fast.
Was your bank account terminated?
Termination of bank accounts in Hong Kong is often linked to business jurisdiction. Businesses that opened their bank accounts prior to BVI are being closed.
Though the process of closing the accounts commenced about 1 year ago, the process is always lengthy but you can rest assured your account will also be closed if it is in the same category.
Immediately an account is closed; banks allow the respective company a couple of weeks to withdraw all the deposited funds. If you fail to withdraw the funds, the account is terminated, and all the balance sent via cheque to the company’s beneficial owner. Therefore, you need to act as fast as possible when given the short period to close the account.
Why we guarantee our clients more that 99% success in opening bank accounts
When a client contracts us, we take about 9 hours preparing all the compliance documents as well as comprehensive explanations for the bank. We ensure to include these details in our quotation so that your company application or bank application goes through easily and fast. Well, if you find other agencies offering cheaper services, the risk involved is very high and you are better off working with professionals.
Even if your bank account has been rejected or terminated, do not hesitate to reach us for assistance. We have the solution, goodwill, and will walk with you until the account is ready and business is up and running.