How you can Setup Hong Kong Bank Accounts7666187

Opening a checking account in Hong Kong is pretty easy in case you have each of the correct documentation. You no longer need to get resident and have a work visa to open a bank-account. You may choose to open a company account for personal privacy or business reasons, however that will require more documentation and time than opening your own account. Overall though, setting up a banks in hong kong for private or business usage is a simple process.

Personal Accounts

To start an individual account you simply must provide proof of your address. Living in Hong Kong you need evidence the local address, for instance a power bill and an Identity Card and other official ID. Non residents have to provide a passport and other official form of ID and evidence their address in their home country. Some of the bank might mail a letter towards the address you provide that you just then show to the bank whenever you open the account.

Split into an international bank you can open your own account with the international bank containing offices locally along with your country of residence. When you purchase a neighborhood hk banks you are going to typically have to be physically give open a free account.

Corporate Accounts

To open a business checking account most banks will demand private limited companies and offshore companies to submit the next documents and knowledge:

A board resolution authorizing and approving the outlet of the checking account and an account application completed and signed as authorized inside the resolution. Certified copies from the business' Certificate of Incorporation, issued by the Hong Kong Companies Registry, Business Registration Certificate, issued by the Hong Kong Inland Revenue Department, along with the business' Articles of Association (MAA) A declaration like the private information to the administrators and principal shareholders owning 10% or even more of the company, including beneficial owners, as well as each director and principal shareholder and authorized signatory An H.K. identity card or passport Proof residence Sample signatures in the authorized signatories as well as a bank reference letter A certified organization chart showing the proportion of shares held by each shareholder and beneficial person who owns the business If ultimate beneficiaries are trusts an authorized copy from the trust deed with identification information for the trustees, settlers and beneficiaries Audited fiscal reports if the ongoing business or even a business strategy plan if your start up business Offshore companies will be needing a Certificate of Incumbency and Certificate of Good Standing. Hong Kong banks typically have to have the account signatories, principal directors and shareholders to become present during the time the corporate bank-account is opened. However, banks with overseas offices may open a company bank account at one the bank's overseas branches.