Hong Kong Bank Account Opening Service
Hong Kong is a great city for doing business and an ideal stepping stone into China and the Asian Pacific Region. Unfortunately, it has recently become much more difficult to open a bank account in Hong Kong due to a flood of new banking requirements stemming from newly introduced laws and regulations from various organisations (e.g. the Hong Kong Monetary Authority, the Financial Action Task Force, the OECD etc.) in order to comply with new global standards regarding Know-Your-Customer Policies (KYC), Anti-Money-Laundering (AML) etc.
New laws and regulations have led to many rejections of bank account openings in Hong Kong
Many business owners of newly established Hong Kong companies are left frustrated / infuriated / clueless when they fly to Hong Kong for the bank account opening process and ultimately finding themselves being rejected by the bank. A Hong Kong company without a bank account is simply useless.
In fact, many local service provider completely lack the knowledge regarding suitable banks and the latest bank account opening requirements in Hong Kong. With roughly 150 banks in Hong Kong, it is important to select a suitable bank depending customers background and business requirements. Our team of banking experts are well equipped to support and guide our customers in the entire process of the bank account opening together with the Hong Kong company incorporation. We also frequently act as a bank introducer for our customers.
Our solution
As a banking expert and professional service provider we comprehensively analyse and recommend on the best approach regarding the company incorporation together with the bank account opening in Hong Kong.
We are here to support our customers in the daunting and complex task of preparing the account opening documentation. 8 - 12 hours of detailed preparation must be expected.
Services include:
- In-depth understanding of customers background and business expectations (incl. discussion with our network of professionals consisting of accountants, CPA's, lawyers etc.)
- Advising on the appropriate company structure and selection of a suitable banking partner
- Arrange for a bank meeting for the corporate bank account opening
- Preparation of certified documents of the Hong Kong company by a CPA etc. for the bank
- Preparation of the required and in-depth KYC profiling / files for the bank
- Meeting and preparation of customer prior to the banking interview to explain the interview process and which additional questions to expect (one hour interview)
- We accompany customers to the bank and in some cases join during the bank interview meeting
- Debrief meeting with customer and follow up with the bank if required
We offer our Bank Account Opening Services free of charge if we are also mandated for the company incorporation, otherwise we will assess your particular situation and provide a quotation.
AZUR is headed by Franz Loschko, a German national who has lived and worked in Hong Kong since 1996. He has gained extensive international banking experience having worked with HSBC and other leading German banking institutions. We are well connected within the banking industry and are up to date on any current / upcoming changes. AZUR is best suited to help you successfully open your bank account.
More information in our Brochure: Hong Kong Bank Account Opening Service
