How to Setup Hong Kong Bank Accounts3938684

Opening a bank account in Hong Kong is comparatively easy when you have every one of the correct documentation. You do not need to be resident or have a work visa to start a bank account. You might open a company be the cause of security or business reasons, however that will require more documentation and time than opening an individual account. Overall though, generating a hk banks web hosting or business usage is a simple process.

Personal Accounts

To start an individual account you need to provide evidence of your address. Living in Hong Kong you may need proof of the local address, say for example a utility bill and an Identity Card or any other official ID. Non residents must give a passport or other official kind of ID and proof their address within their home country. Some of the bank will likely then mail directions on the address you provide that you then show on the bank once you open the account.

If you choose a major international bank you'll be able to open an individual account having an international bank that has offices locally plus your country of residence. When you purchase a neighborhood hk banks you will typically need to be physically given to open a free account.

Corporate Accounts

To open a company bank account most banks requires private limited companies and offshore companies to submit the next documents and knowledge:

A board resolution authorizing and approving the opening of a bank account and an account application completed and signed as authorized inside the resolution. Certified copies of the business' Certificate of Incorporation, from the Hong Kong Companies Registry, Business Registration Certificate, issued by the Hong Kong Inland Revenue Department, and also the business' Articles of Association (MAA) A declaration such as personal data to the owners and principal shareholders owning 10% or even more of the company, including beneficial owners, and for each director and principal shareholder and authorized signatory An H.K. identity card or passport Evidence residence Sample signatures from the authorized signatories and a bank reference letter A professional organization chart showing the percentage of shares held by each shareholder and beneficial person who owns the corporation If ultimate beneficiaries are trusts a licensed copy with the trust deed with identification information to the trustees, settlers and beneficiaries Audited financial statements if an ongoing business or perhaps a business plan if the home based business Offshore companies will require certificates of Incumbency and Certificate of Good Standing. Hong Kong banks typically need the account signatories, principal directors and shareholders to get present at that time the company bank account is opened. However, banks with overseas offices may open a business bank account at one the bank's overseas branches.