In a very attractive and competitive environment Private Banking in 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 favorable.
Advantages of Private Banking in Hong Kong
- Ease to invest on mainland Chinese stocks
- Access to multiples IPO’s
- Higher returns expectation, the portfolios are more aggressive as most of the clients are high demanding
Disadvantages of Private banking Hong Kong
- Confidentiality training to the team is less efficient than in Switzerland or Luxembourg, culturally the confidentiality doesn’t have the same importance in Asia.
- Higher returns also mean higher risks, Chinese mentality towards betting is well demonstrated in the Casino attendance with 90 % of Chinese visitors
- 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