Global Business Service Agency: legal services for business

Hong Kong is among the top-3 countries in terms of financial transactions and the level of banking services. Hong Kong banking institutions take the leading position in S&P Global Ratings and the Global Finance ranking for the region. In this case, the turnover of the Asia-Pacific community for the last 2 years is mainly in the national currency of China (the number of payments to the yuan increased by 31%). That is why opening an account in Hong Kong is a necessity for international business Oriented towards the "Asian Tigers".

Open a bank account in Hong Kong: what you need to know about special administrative district banks

1. In the jurisdiction is available to open multi-currency accounts with the possibility of online conversion of the balance, as there is no currency control in the SAR.
2. In Hong Kong one of the best services: high degree of protection of transfers, guarantee of deposits, minimum package of documents for sending payments.
3. In the jurisdiction, there are no restrictions on the amount and amount of transactions in national currency.
4. For personal and corporate accounts of Hong Kong banks, there are no requirements for minimum non-balance.
5. When opening a personal or corporate account, it is required to indicate the intention to use the account and to make an initial balance of $130 000 in the equivalent of the desired currency.
6. It is important in the jurisdiction, the resident of which country you are: particularly stringent requirements are exposed to citizens of the USA, Korea, Canada and some CIS countries.
7. Operations on the accounts of the Hong Kong Bank can be managed remotely.
8. All operations of the banks of the "Asian Tiger" are operative – the funds are received on the accounts day by day.
9. To open a private or corporate account, 80% requires the personal presence of the person concerned.

What documents are required to open an account in Hong Kong

• Identifying documents of the beneficiary and founders (translated and certified by a notary);
• Translated and notarized copies of the utility bill (beneficiary, Founders and directors) not older than 3 months before the date of application for the purpose of confirmation of permanent residence;
• Notarized and translated copies of the company constituent documents;
• Documents confirming the company activity and its financial results or sources of funds origin (for private accounts);
• Justification of the reason of account opening;
• Letter of recommendation from another bank, where the accounts for the company or private person are already in operation;
• Making the initial deposit.

Specialists of GBS Agency can offer the services of opening a current account for 4-7 weeks in one of the following banks of the special administrative region of China:

1. CHINATRUST;
2. STANDARD CHARTERED BANK;
3. HANG SENG BANK LIMITED;
4. HSBC.

The cost of opening any account with the help of our financial experts is $1 000.

For detailed information regarding the nuances of opening personal banking for you or your company, please contact our specialists right now!