HK company - what bank account?

[vemvemem]

Hi guys,

I wanted to open an offshore company in HK. What bank account should I choose for this purpose?

• I do business consulting
• Getting paid from SMEs in South East Asian countries i.e. Singapore, Thailand, Malaysia, Indonesia
• Invoicing monthly and getting paid in USD

I was told to consider Neat, Payoneer, Transferwise and Worldfirst. I don't have experience in any of these platforms.

Technically, I could have opened an account in Singapore for the HK entity, but due to travel restrictions that's nearly impossible for me.

Thanks in advance!

 

[Martin Everson]

Add also currenxie, airwallex to Neat you mentioned and for that part of the world your covered account wise.

 

[speedster]

Hi guys,

I wanted to open an offshore company in HK. What bank account should I choose for this purpose?

• I do business consulting
• Getting paid from SMEs in South East Asian countries i.e. Singapore, Thailand, Malaysia, Indonesia
• Invoicing monthly and getting paid in USD

I was told to consider Neat, Payoneer, Transferwise and Worldfirst. I don't have experience in any of these platforms.

Technically, I could have opened an account in Singapore for the HK entity, but due to travel restrictions that's nearly impossible for me.

Thanks in advance!

TransferWise don't do Hong Kong companies

 

[vemvemem]

What would you guys recommend? @speedster @Martin Everson

 

[Martin Everson]

What would you guys recommend? @speedster @Martin Everson

You didn't read my last post?

 

[vemvemem]

I did and I appreciate it! But why would you choose Neat ? The reviews are mixed

I read your suggestion, if it's possible, I would like to understand more, why Neat in particular.

Thank you in advance

 

[Martin Everson]

I did and I appreciate it! But why would you choose Neat ? The reviews are mixed

I read your suggestion, if it's possible, I would like to understand more, why Neat in particular.

Did you really read my post properly if so why are you asking me about Neat? Your the one who brought up Neat in your first post and I just added two more names .

 

[jasobrave44]

Hey @speedster, try BEA, DBS, ... every bank in HK can set you up with a multi currency accounts, pretty easy to set up. Where are you stuck at?

 

[markdk]

I had the same issue especially because I cannot fly to open a normal bank account, I set up currenxie remotely and I did the first transfer , good assistance, Italian employees working there.. All good

 

[VanguardFortuna]

Try Airwallex and Currenxie as Martin suggested. I’ve gone with Airwallex and it’s super easy to use.

 

[Art for Tree]

Hello everybody! In addition to the EMI's mentioned above, could you advise (or at least hint) the banks that are now ready to open accounts for HK companies? Given if the owner is from the CIS countries. СIM banque do not offer please

 

[markdk]

WHY NOT Cim banque.. please tell me.. i had the same issue and it's the only one who set up me the bank account , it's expensive but very active and helpfull to finalize the bank opening

 

[Art for Tree]

markdk Cos I know for sure that CIM bank opens accounts for HK companies (there were several successful cases with them), including for affiliate marketing. But I wonder, if at the moment there are any other options among the banks who can open accounts for the HK? Even with strong KYC (due to my expirience it is not a big problem).

 

[Art for Tree]

I mean that the CIM bank is a good option, but I'm afraid that it is almost the only one for today.

 

[mrsgrey]

Vem
Thank you so much for your post. I think that it is a great idea to have a post in relation to these issues. There isn't much info that I can readily find on here and I am grateful that you have posted here. I have a quick question for the group in here. How do I create a HSBC online account for a HK company. I have been told that it can be entirely setup online without going into a HSBC branch in HK - does anyone have any experience with this?

 

[markdk]

My experience is that is not possible at all. I set up a company with an accountant that is an HSBC "sponsor", I asked several time but noway, you have to be there in person. as soon as I can fly I will be able to finalize the HSBC account. In the main time I open currenxie in Hong Kong and cimbanque in Switzerland so I have a local EMI and an European Bank for my hkg company.

 

[Martin Everson]

Hong Kong situation looking shaky politically. Not sure what else the US has planned to try and punish mainland China. You may want to switch to a jurisdiction with a bit more political certainty.


U.S. considering suspension of Hong Kong's special tariff rates: sources

 

[markdk]

Friends.. I can't believe.. After 1 months o f correspondence with 1 tons of documents including 20k wire transfer cimbanca at the last second reject my application. I'm back from point 0 and I can't fly to Hong Kong till September!! I have Currenxie opened and working but I want to find a normal bank to store money. Is there anyone who has suggestion for safe bank if possibile in safe country where I can open remotely??

 

[jasobrave44]

hi Mark, which bank did you apply to? now it's possible to take the interview without flying. Can help, dm me if you'd like to.

 

[markdk]

the bank is cim banque , in LUGANO , , if you know any serious bank in safe country who can apply remote application for HKG company please let me know , my business is 100% trasparent , is only consulting business!