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Can a foreign company open a bank account in Hong Kong?
Technically you can open a business bank account in Hong Kong with a foreign corporate entity. However, as Hong Kong has very strict anti-fraud laws, some banks may be reluctant to allow this.
Why is it difficult to open a bank account in Hong Kong?
You have a complicated ownership structure. To open a bank account, a bank performs a so-called ‘Know-your-customer’ process (KYC). During this process, the bank needs to verify different elements. For example it needs to understand what the business does and conduct checks on the shareholders and directors.
How do I open a bank account in China Hong Kong?
You can open an account with us through any of the following ways:
- Visit any of BOCHK branches; or.
- Open an account through BOCHK Internet Banking(applicable to existing deposits customers only); or.
- Sign the account-opening documents of BOCHK through our designated attesting network at your region.
Does company need bank account?
If you have recently registered a company in Australia you need to have a separate bank account for tax purposes. However, you will need to provide the bank with certain documents which identify your company in order top open your account.
Can I open a bank account online Bank of China Hong Kong?
Without visiting a branch，the process is simple and fast. Please download BOCHK Mobile App (https://www.bochk.com/dam/more/mini/mbk/en.html). 2. Nationality (Country/Region) is China (Hong Kong)/ China (the Mainland) /China (Macao);
Can I open a business bank account in Hong Kong?
The short answer is “no”. All major banks (HSBC, DBS, Bank of China, etcetera) requires that you visit a branch in Hong Kong, in order to open a business bank account. Note that, as long as you book an appointment beforehand and that you can provide all the required documents, the meeting in Hong Kong shall not last more than a couple of hours.
Can I open a corporate bank account in Hong Kong during covid-19?
During COVID-19, some Hong Kong banks allow businesses to open their corporate bank account without a direct presence in Hong Kong. Still, the case may vary depending on each bank’s policy at that time and your business circumstances as well.
Which is the best bank in Hong Kong to save money?
HSBC is the largest international banking group in Hong Kong. Their instant access saving account gives you the convenience of a current account with added interest and choice of currency. If you want to save money and don’t need instant access, their time deposit account has a higher interest rate than a normal savings account.
How does the digital bank work in Hong Kong?
The digital bank or virtual bank does not hold traditional banking licenses but can process transactions while custodian services of the funds are handled by DBS Bank in Hong Kong. For funds to transfer in and out of the digital/virtual bank, the bank’s SWIFT code and account details are used.