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Open a Hong Kong Bank Account

Introduction

Hong Kong is the largest financial hub in Asia and one of the safest and more convenient places to bank. Hong Kong banks are some of the most solvent and liquid banks worldwide.There are no exchange controls and accounts are available in multiple currencies, in addition to a large variety of investment and insurance products.Hong Kong banks are ideal for both individuals and businesses that require strong cash management services in various currencies and that have strong investment needs.Hong Kong is also the gateway to one of the largest and fastest-growing markets worldwide: China. Hong Kong banks offer RMB accounts and payment cards.Import/Export companies will have access to top trade finance services such as Letter of Credit and Bank guarantees.Hong Kong online businesses with HK bank accounts also have access to a broad range of merchant accounts and credit card processing aggregators.Hong Kong banks are also available for companies incorporated in tax-neutral jurisdictions. However, banks will want to see a solid business background, and a relatively low-risk commercial activity to onboard an offshore company.Offshore companies will need to provide enough supporting business documentation such as business plans, invoices, contracts, letters of intent, etc., to satisfy the bank’s compliance requirements.All in all, Hong Kong is a perfect banking location for local and international businesses, companies doing business in China and individuals looking for strong wealth management and investment services.
Bank Account Key details
Currencies: HKD, USD, CNH, GBP, EUR, JPY, SGD, AUD, NZD, CAD, CHF, DKK, NOK, SEK, THB, BND, ZAR
Minimum deposit to open Bank Account: HKD 20,000
Good For: Transactional Banking, Credit card Proccesing, Payment Proccessors, Trade Finance, CNY/CNH Accounts, CNY Cards, Multicurrency Accounts, JPY Accounts
Eligibility: Resident companies, Non resident companies, Offshore companies
Personal Visit: Required
Money back guarantee if unsuccesfull bank account opening
We will assist with up to 3 different banks
Personal Bank Account fee: £300
Corporate Bank Account Fee: £749

Documents Required to open your Bank Account

Company documentation
  • Certificate of incorporation
  • Memorandum and articles of association.
  • Share certificates.
  • Certificate of incumbency, or certificate of good standing if the company is more than 12 months old.
  • Corporate structure identifying the ultimate beneficial owners.
  • Business license (if applicable for some industry like Financial Services).
  • Power of attorney (if applicable).
  • Declaration of trust (if applicable).
Personal documents of each director, shareholder, appointed secretary, authorized signatory and ultimate beneficial owner.
  • Proof of identity: copy of valid passport (The passport must have the passport holder’s signature and it must match the signature in the application form, certification required however we can support you on this).
  • Proof of residential address: original or certified copy of utility bill/bank statement dated within previous 3 months.
  • Proof of banking history: original or notarized copy of bank reference letter, dated within the previous 3 months, or 6 months’ statements (depending on the chosen bank).

     *Certification can be done by a bank, a attorney at law, a notary or public officer however we can assist you on this.

Business evidence (upon bank request)
  • Invoices, contracts, agreements of your existing company.
  • Service Provider Certification with your prosperous partners/ suppliers.
  • Any documents proving your qualifications in the business scope.

Country General Information

Banking
Hong Kong is the world’s fifth leading financial centre. Hong Kong has one of the highest concentrations of financial institutions in the world. In 2014, Hong Kong surpassed Japan in average daily foreign-exchange trading volume. As one of the world’s leading financial hubs, Hong Kong remains very popular as a banking jurisdiction, rivaled only by Switzerland in terms of stability and banking quality.
History
It has been stated by archaeologists that there is evidence of human presence in the area that is now Hong Kong from 35,000 to 39,000 years ago. The first emperor of China conquered the Baiyue tribes in Jiaozhi In 214 BC, and annexed the territory into imperial China. Under the Tang dynasty, the Guangdong (Canton) region flourished as a regional trading and financial centre. Jorge Álvares, a Portuguese explorer, was the earliest known European visitor, who arrived in 1513. In the mid-16th century, a closed-door policy was enforced and it strictly forbade all maritime activities in order to prevent contact from foreigners by sea. The refusal of Qing authorities to support opium imports in 1839 caused the outbreak of the First Opium War. The British Empire and the Qing Empire fought relentlessly and Qing’s subsequent defeat resulted in the occupation of Hong Kong Island by British forces on 20 January 1841. In 1842, the Treaty of Nanking was signed and the name, Hong Kong, was first recorded on official documents to encompass the entirety of the island. At the time, the population of Hong Kong Island was 7,450. The Japanese occupied Hong Kong briefly during the second world war. On 1 July 1997, the transfer of sovereignty of Hong Kong from the United Kingdom to the People’s Republic of China took place, officially marking the end of Hong Kong’s 156 years under British colonial governance.
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Pearlem Capital LLC

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