A corporate bank account will serve so many countless benefits if you open it in Hong Kong. First thing first, the benefit will contribute in the smooth business transactions of your company since the Hong Kong banking industry has one of the best and most advance systems in the globe. There are tons of equally viable foreign or local banks to choose from when you decide to open a Hong Kong corporate bank account. All of these banks offers various services including optimized cash management facilities, internet banking, trade financing, and services pertaining to capital loans for businesses.
We will give you a quick check on the advantages that you can benefit from if you choose to open your bank account in Hong Kong.
No tax on interests
All interests derived from a Hong Kong bank account is not subject to tax.
Manageable balance on bank accounts
In general, banks in Hong Kong does not impose strict polices in maintaining an average minimum balance on bank accounts. On the other hand, charges apply on monthly fees.
Worry free international wire transfers on capital
There is no foreign exchange trade that is regulated and existing in HK. Which means, that generally, most international wire transfers pertaining to dividends or profits can be transferred with ease.
Excellent banking system & quick access to bank accounts
Banking technologies on accessing the bank accounts in Hong Kong is a breeze. Thanks to its banking sector that prioritizes customer satisfaction and easy account access on their internet or mobile banking’s. Likewise, Hong Kong is a major financial player in the global market on technologies that improves the banking services in its country.
Requirements for opening a Hong Kong Corporate Bank Account
Avail our bank account opening services
Aside from our incorporation packages, we are also experts in the bank account opening of not only in Hong Kong but including Singapore, Macau, and other popular offshore jurisdictions. As a bank introductory firm, we will guide you through the process and prepare the necessary documents in order to ensure that the procedures are followed consistently. This way you are guided according in making an informed decision on which bank is the best that can suit your needs.
Important Documents to Remember
- Personal identifiers and primary identification documents that are issued by your government to prove your identity.
- National ID
- Driver’s License
- Proof of billing
- Utility Bills
- Bank statements
- Note: proof of billings must not be older than 2 months.
- Business proofs
- Incorporation documents of the company
- Certificate of Incorporation
- Articles of Association
- Business Licenses or permits
- Business plan
- Financial Statements
- Bank reference letter
- Lease Contract
- Sales / Purchase Contracts or Agreements
- Other company proofs to attest and support the existence of the company
- Deposit of the initial minimum bank account balance for the bank
- Company Board Resolution authorizing the opening of the corporate bank account
- Controlling persons such as shareholders or directors with more than 10% ownership in the company has to physically present in Hong Kong during the processing of the bank account opening. We would like to remind you that usually the whole process of the bank account opening can take up to 2 weeks.
- A certified true copy of the Certificate of Incumbency and Certificate of Good Standing for offshore companies
- Documents which are not written in English has to be certified and translated into English.
Please remember that all banks differ in their approach in terms of due diligence and requirements.
If you have finally decided to open your corporate bank account in Hong Kong, please feel free to contact us directly and we will be gladly of assistance to help you open that bank account.