How to Make an Appointment with a Hong Kong Bank
09 January, 2017
Recently, Hong Kong banks have tightened their criteria for opening new bank accounts. It is not possible to open a new account remotely and you will have to fly over to Hong Kong to attend a meeting with bank officers.
However, before you book your flight, you should read our tips on how to make an appointment with a Hong Kong bank.
- Confirm your company's legal incorporation – once you received an email confirmation that your company has been successfully incorporated, you can arrange the bank appointment.
- Contact the bank directly and no less than 20-25 working days before your planned trip to Hong Kong. We also recommend to re-confirm the meeting before finalizing your travel arrangements.
- Gather all requested documents
- Prepare for the meeting – we can't stress enough how important this step is. Some of the most asked questions are:
What is the nature of your business?
How many employees?
What is your business address?
How old is the business?
In what countries do you sell products?
What would be the trading currency?
What is your current or expected annual turnover?
Please bear in mind that Hong Kong banks are not obligated to open bank accounts and the final decision is at their own discretion.
In case that the bank refuses to open a bank account for your Hong Kong company or you just simply find the process too problematic, you can attempt to open an offshore bank account which will give your company exactly the same options as a bank account in Hong Kong. There's no advantage or need to open a bank account in Hong Kong.
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