As we all know, Hong Kong is a leading international financial center in Asia, and factors such as a free and open market and convenient business environment have attracted many enterprises from all over the world to develop in Hong Kong, especially domestic enterprises engaged in foreign trade have chosen to set up companies in Hong Kong as a base for overseas business.
However, after registering a Hong Kong company, you also need to open a Hong Kong company account, and Hong Kong account opening requires a lot of information and a high threshold, and may be rejected.
Today, let's talk about how to plan in advance to improve the success rate of Hong Kong company account opening!
NO.1. Plan before opening an account
As an international financial centre, Hong Kong has a sound banking system, freely convertible currencies around the world, and there are no restrictions on the flow of capital, so the anti-money laundering and compliance regulatory systems of banks are based on international standards. The banking industry is the lifeblood of Hong Kong's finance, and the Hong Kong Monetary Authority has very strict supervision over banks, and in order to ensure the continued stability of the financial market, it is necessary to control risks from the source.
1. The enterprise needs to have actual operations in Hong Kong
Usually, banks will require office lease contracts, employee MPF payment records, upstream and downstream business contracts, statements, etc., to prove the actual operation in Hong Kong.
If you are a new company, you will be required to provide proof of an affiliated company that has already conducted business in other countries or regions, such as bank statements, business contracts, orders, websites or social media, etc., as well as the company's largest suppliers and customers.
2. Due diligence on shareholders
The bank will understand the background of the shareholder, and basic documents are required, and may require the shareholder's resume, proof of work and income, bank statement, source of wealth, whether it can be retrieved through public channels, etc.
3. Understand the scale, turnover, and capital volume of the enterprise
The bank will determine the size and amount of capital of the enterprise by understanding the number of employees and the estimated annual turnover of the enterprise and its affiliates. In addition, we will also ask about the initial funds deposited into the account, the average retained funds, the source of funds, the number of transactions per month, the amount of transactions per month, etc.
4. Countries with which we do business
This is a question that banks must ask, and the main purpose of the review is to assess whether the company's operations and transactions have economic transactions with sensitive countries, countries sanctioned by the United Nations and the United States, countries and regions with high capital risks, and whether the remittances received are safe.
5. Is the company's product or service genuine?
Usually, the bank will search the enterprise through public channels to understand the company's information and business, and if the information obtained online is limited, it may further request to supplement the company's introduction materials, product promotion materials, etc.
In general, the account opening review of banks in Hong Kong is a very comprehensive substantive review, which will understand the company's status from various aspects such as company information, written documents, oral inquiries, and online searches, so as to confirm the authenticity and reasonableness of the company's information business.
Therefore, during the account opening review, the bank may ask further questions about the situation investigated, and it will need to provide additional information or reply questions to explain the problem. It is important to find a professional secretarial service provider in Hong Kong to coordinate, prepare and communicate throughout the process of opening an account, which greatly improves the efficiency of account opening.
The above is the relevant content of "Hong Kong Bank", I hope it will be helpful to you~