How to Prepare for a bank meeting in Hong Kong
25 April, 2016
The Due Diligence and Know Your Client policies and procedures are getting tougher in the Hong Kong Banks. Customers are requested to provide more documents and proofs than ever before.
If you're considering starting a business in Hong Kong, opening a bank account will be crucial.
How does one succeed?
100% preparation banks like to meet prepared customers:
- Do a research on how to prepare for a bank meeting in Hong Kong. You'll be more confident knowing what to expect.
- Call the bank ahead of time and schedule your appointment! This is very important as not every bank in Hong Kong accept walk-ins. Moreover, banks in Hong Kong are very busy and your appointment may be scheduled for next month!
- Prepare all documents. If you submit all documents that the bank has requested, you're more likely to be successful. Check with the bank whether they accept copies or they need apostille documents. Make an effort to create a short presentation about your business, gather all you company documents and proofs such as business cards, invoices, brochures, etc.
- Prepare your answers to frequently asked questions.
Choosing the right bank
Hong Kong is well-known for its business friendly environment and it's no surprise that it's a home to many big banks and financial institutions. Spend some time reading reviews and comparing bank fees. Once you make the final decision, call the bank and arrange an appointment.
You may also consider opening an offshore banking account. Offshore banks offer the same services and you'll be able to access your account from any place. Your business will not be affected at all.
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