Requirements for Set up a Corporate Account in Hong Kong
We have enquired the banks listed below
on the requirements for the opening of a corporate account
with them for clients reference only.
1. Standard Chartered Bank:
www.standardchartered.com
(1) All directors, shareholders and bank authorized signatories
need to provide address proof, e.g. original water/telephone
bill, bank statement issued within 2 months. If the correspondence
address is different, address proof is also required. If any
address proof is not in English nor Chinese, you are required
to have a local lawyer to translate it into English and certify
its English version.
(2) All directors, shareholders and bank authorized signatories
may come to Hong Kong or go to their branch/subsidiary (not
representative office) in any country, so that they can witness
their signatures and verify their passport copies. You can
find the addresses of their branches at
www.standardchartered.com/global/home/globalbranch_content.html
2. Bank of East Asia: www.hkbea.com
(1) for any director/shareholder/bank authorized not having
a bank account with the bank for more than a year, a bank
reference letter from the personal banker of each director/shareholder/bank
authorized signatory introducing him/her to open a bank account
and the bank account must have been opened for more than 1
year.
(2) all directors, shareholders and bank authorized signatories
may come to Hong Kong or go to their branch/subsidiary (not
representative office) in any country, so that they can witness
their signatures and verify their passport copies. You can
find the addresses of their branches at
http://www.hkbea.com/whp_servint/whp_network.html
3. HSBC: www.hsbc.com
(1) A bankers' reference letter from the personal banker of
each director/shareholder/bank authorized signatory introducing
him/her to open a bank account (sample to be provided by us)
and the bank account must have been opened for more than 1
year. (Latest Update: The requirement
for bankers' reference letter is waived)
(2) Evidence to prove the present occupation of each director/shareholder/bank
authorized signatory, e.g. a bank reference letter from the
banker of the existing company of each director/shareholder/bank
authorized signatory specifying its nature of business and
that he/she is a shareholder or director of that company
(3) HSBC require to verify the signatures of the bank officers
who issue bank reference letters, so the letters are required
to be faxed to us for their verification first
(4) All directors, shareholders & bank authorized signatories
can come to HK for opening bank accounts and then come again
about 3 weeks later for collecting internet banking password
in person.
We can assist and act as referral for the open of bank account
at a cost of USD350 each for clients who incorporate their
companies through us. The charge for bank account alone is
USD450. Physical presence of the authorised
signer(s) in Hong Kong is required.
Operating Bank Accounts
Bank accounts with the banks mentioned above can be operated
outside Hong Kong in the following ways :
Phone Banking Service/Internet Banking
Service
All the above 3 banks provide Internet Banking Facilities,
by which you can use Internet to assess your bank accounts
for making balance enquiries and transfers. There is no limit
for making transfers for Standard Chartered Bank, but they
have a set up fee of HK$800 and a monthly fee of about HK$200
to HK$300. For the other 2 banks, the maximum limit for transfers
is HK$2,000,000 per day, but the bank charge is only several
hundred HK$ per annum without a set up fee.
ATM Card
You can use ATM cards issued by the relevant banks to withdraw
money from the Company's bank accounts using any specified
ATM machines ("Sirrus" for Standard Chartered Bank
and "Plus" for HSBC and Bank of East Asia) around
the world. There will be a bank charge for each transaction
and some exchange loss.
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