Hong Kong Bank Account Hong Kong Sourcing Agent Assist Service

The keys to successfully open a Hong Kong bank account

For clients who are eager to own a , a Hong Kong bank account is where the value lies. However, knowing the below points are the keys to successfully open a Hong Kong account.

Where should you open a Hong Kong account?

In general, Hong Kong government allows Hong Kong companies to open bank accounts all over the world. However, for foreign merchants who run business within China, Guangzhou HiTouch Consulting would advise them to open a bank account in Hong Kong. Banks in Hong Kong, especially are the most favorite of merchants in China. Most of merchants own HSBC account because that will make it more convenient to pay and receive payment.

What’s more, for foreign clients who plan to settle in Guangzhou permanently, having the bank credit certificate issued by a Hong Kong company bank account will be a great benefit for the approval of .

Do you need to open the bank account in person?

Compared with regular bank account opening, the process and examination of company bank account is rigorous and prudent. Take HSBC as an example, it has been troubled by money laundering of the clients’ bank accounts in recent years. Therefore, the examination of bank account is very strict.

There are two ways to open a company bank account: in person and through video. Considering time expense, opening through video is relatively convenient but the success rate is low.

HiTouch Consulting recommends our clients to go to Hong Kong in person.

The first reason would be HiTouch maintains a good cooperation relationship with many banks in Hong Kong, so that we can assist clients to make an appointment with senior account manager one week in advance to get the sufficient service.

Secondly, HiTouch has abundant successful experience so that we can provide our clients with free account opening training to increase the success rate. According to the statistics, account opening through HiTouch make up to above 90% in all cases.

What material to prepare for bank account opening?

Materials include three categories:

1. A whole set of Hong Kong company registration documents
2. Orders, invoices, contracts and so on.
3. Materials of China’s domestic company (especially important for re-registration of Hong Kong company and bank account opening)

How long will it take to open a Hong Kong bank account?

Generally, the examination will take about 10 working days, but the final time is subject to the bank’s notice.

Will bank account holder transfer definitely be successful?

Different from general account opening, account transfer cannot be finished unless the two parties go to the bank in person. Due to the uncontrollable factors of both parties, account transfer still has some risks.