Hong Kong  bank account

Hong Kong company formation with bank account

Nowadays, thousands of investors and entrepreneurs are choosing to set up a Hong Kong company. And it just takes us a few days time to incorporate a company in Hong Kong, regardless of nationality. It seems that this Financial Hub will be never unfavorable. The rational behind this tendency is to primarily facilitate enhancement of business to such a huge international market and take advantage of the friendly corporate tax benefits of this jurisdiction. Furthermore, due to its three-tier system, which is characterized to form by 3 different type of banking institutions, the jurisdiction is well-known as the largest representation of reputed international banks in the world.

Offshore Company Corp has been established and maintained good relationship with many Hong Kong Banks that privileges us to assist our clients in bank account opening in Hong Kong.

A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded. Each financial institution sets the terms and conditions for each type of account it offers, which are classified in commonly understood types, such as deposit accounts, credit card accounts, current accounts, loan accounts or many other types of account. A customer may have more than one account. Once an account is opened, funds entrusted by the customer to the financial institution on deposit are recorded in the account designated by the customer. Funds can be withdrawn from loan loaders.

The financial transactions which have occurred on a bank account within a given period of time are reported to the customer on a bank statement, and the balance of the accounts of a customer at any point in time is their financial position with the institution.

Below is how to open Hong Kong  bank account

• Why open an offshore bank account for company?
• How to set up a company in Hong Kong

Requirements for opening bank account in Hong Kong for non resident

(A) Company Account Applicant:

1. Certificate of Incorporation (CI) (HK registered company)
2. Memorandum and Articles of Association (M&A) or Articles of Association (A&A) (HK registered company)
3. Business Registration Certificate (BR) (HK registered company)
4. Bought and Sold Note and Instrument of Transfer if applicable (only if registered in HK)
5. Certificate of change of name (if any)
6. Organizational Chart (If multi-layered corporate structure)

(B) Corporate Shareholder: (if any)

1. Certificate of Incumbency issued by registered agency within latest 3 months (COI) (Offshore registered company)
2. Certificate of Incorporation (CI) (Offshore registered company)
3. Memorandum & Articles of Association (M&A) (Offshore registered company)
4. Certificate of change of name (if any)
5. If corporate shareholder is HK registered company, please provide the documents same as point (A) above

(C) All Shareholders / Directors / Authorized signors:

1. ID cards
2. Passports
3. Residential address proof (Utility bills / Tax demand notes mailed from Government issued within latest 2 months, please translate into English by qualified solicitor in Hong Kong if it is in other language form)

(D) Company Business Proofs:

1. Business plan and product catalogue
2. Latest audited financial reports
3. Latest tax demand notes
4. Latest 3 months of corporate bank statements
5. Top 3 buyers and suppliers list with their domiciled countries listed and related signed sales contracts, purchasing order, invoices and related bill of lading, etc.
6. Tenancy agreement of your physical office in HK and MPF records
7. Evidence on “Business address”/ “Principal Place of Business” if different from its registered address

(E) Director / shareholder / Ultimate Beneficial Owner proof of source of wealth:

1. Personal resume (CV)
2. Previous employment contracts, salary payment records, etc
3. Latest 3 months of personal bank statements, latest tax demand note, and any documents which can proof the source of wealth for setting up the business
4. Director / shareholder / Ultimate Beneficial Owner other owing company details, like registration proof, updated audited report, bank statements for recent 3 months, top 3 buyers and suppliers list with their domiciled countries listed and related signed sales contracts, purchasing order, invoices and related bill of ladings, etc