Opening a company bank account can be quite stringent in Hong Kong. If you don't get it right you might not have a company for long. We asked Fion Sen, co-founder and managing director of Bridges Executive Centre, about the ways an agent can ensure this process is hassle-free.
Sponsored Content When you start to form your company, you will need to choose a bank to open your company bank account. Handling the whole process on your own can be time-consuming and distressing – preparing all of the critical documents and fulfilling the seemingly never-ending requirements of your selected bank.
To help the process go smoothly it is recommended to get professional help from a reliable agent or business centre. At Bridges we provide complimentary bank account opening services to all our Hong Kong company formation clients. It is important that when selecting an agent they can provide the following services as well.
Banking Partner Network
Make sure your agent has years of experience in cooperating with Hong Kong's leading banks such as HSBC, Hang Seng Bank, DBS, Standard Chartered Bank, Citibank, BEA, etc. to open bank account for clients. A trusted agent will help you make appointments with the bank representative to meet at either their centre or a nearby branch to handle the paperwork and save time.
Each bank might have different requirements for different nationalities or different entity types when opening a company bank account. Also, the minimum bank deposit amount is different among banks. Based on an understanding of your situation and needs, an agent will recommend a suitable bank to free you from unnecessary hassles and headaches.
Tips for an Offshore Company
To open a bank account for an offshore company, more criteria, documentations (e.g. certified true copies, Certificate of Incumbency) and proofs (e.g. business plan) might be needed. Select an agent who is fully versed in this area and will help ensure the necessary criteria are met.
Speed Up the Process
Before the bank account opening appointment, an agent should advise you of the documents needed to prepare (e.g. passport copy, etc.), so that the whole process could be sped up and the situation of missed documents is minimised. Some bank partners could even provide a security device to you immediately. What’s more, an agent should introduce the Relationship Manager to you for taking care of your account moving forward.
More questions? Please contact us here
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