Hong Kong bank account for a company

[sherwoodcap]

I'm looking to open a bank account for a Hong Kong company and wondering what the process is. I'm ok with traveling to Hong Kong if it helps and it's possible.

Can anyone recommend some banks or services please? Thanks

 

[Sols]

Do you have staff in Hong Kong or business partners in Hong Kong or Asia? If you do, have your secretary/corporate service provider in Hong Kong set up appointments with banks they recommend. DBS, OCBC Wing Hang, Hang Seng, HSBC, and Bank of East Asia tend to be the easiest to work with.

If you don't have a strong connection to Hong Kong, your chances are practically zero. You can try Airwallex, Statrys, Currenxie, and Neat instead.

 

[sherwoodcap]

Do you have staff in Hong Kong or business partners in Hong Kong or Asia? If you do, have your secretary/corporate service provider in Hong Kong set up appointments with banks they recommend. DBS, OCBC Wing Hang, Hang Seng, HSBC, and Bank of East Asia tend to be the easiest to work with.

If you don't have a strong connection to Hong Kong, your chances are practically zero. You can try Airwallex, Statrys, Currenxie, and Neat instead.

Thanks for the reply. No staff or connections in Hong Kong. Nothing in Asia.

You think zero chance huh?

Must have checked 10 different jurisdictions trying to get a bank account at the moment and no places will look at it.

 

[Sols]

Thanks for the reply. No staff or connections in Hong Kong. Nothing in Asia.

You think zero chance huh?

None. The days of banking in Hong Kong without a connection to Hong Kong, or at the very least to Asia, are gone.

 

[sherwoodcap]

None. The days of banking in Hong Kong without a connection to Hong Kong, or at the very least to Asia, are gone.

Will anywhere open a bank account without a connection there?

 

[JackAlabama]

Thanks for the reply. No staff or connections in Hong Kong. Nothing in Asia.

You think zero chance huh?

Must have checked 10 different jurisdictions trying to get a bank account at the moment and no places will look at it.

Better to look elsewhere. HK is also not like before.
They make it difficult for actually no reason.

 

[sherwoodcap]

Better to look elsewhere. HK is also not like before.
They make it difficult for actually no reason.

Where would you recommend?

 

[JackAlabama]

Where would you recommend?

I dont know your situation, so cannot recommend anything.

 

[sherwoodcap]

I dont know your situation, so cannot recommend anything.

I own a recruitment company. Currently UK incorporated. Living elsewhere.

Which countries will give a bank account to a company where it's incorporated?

 

[Marzio]

Which countries will give a bank account to a company where it's incorporated?

UK is one

 

[sherwoodcap]

UK is one

Cant get a UK bank account without living there.

 

[Marzio]

Cant get a UK bank account without living there.

There are a lot of EMI’s that would open a bank account for a UK LTD.

Wise, Intergiro, Fire are the first that come to mind.

 

[sherwoodcap]

There are a lot of EMI’s that would open a bank account for a UK LTD.

Wise, Intergiro, Fire are the first that come to mind.

There are a lot of EMI’s that would open a bank account for a UK LTD.

Wise, Intergiro, Fire are the first that come to mind.

Aye I know Wise will. I'm looking for a high street bank. It's extremely important to the business, just can't find a jurisdiction that will do it.

 

[Fred]

Where would you recommend?

We get you covered with our Dubai Setup - you get exactly what you are looking for.

Hong Kong is that much dead that even HK Passport holders and Expats living in HK setting up right now with us in Dubai.

That's reality approach - forget about Desert, this and that arrest and break it down to what it is - in fact you get here in Dubai what you are looking for with the minimum of substance which we get you anyway as part of the setup.

@JackAlabama a client from early days and meanwhile good friend with having a lot of experience with past equals to Dubai like HK and Panama can for sure confirm.

 

[Forester]

I'm looking for a high street bank. It's extremely important to the business,

Well, could you elaborate more on this? Why is it so important? Because this demand really gives you very hard limits...

Otherwise, Dubai really can be a solution (if you take some help; it is, in general, not so easy there to be able building all the setup for yourself).

 

[patterson]

Had a company account with HSBC HK for many years, but it became too hard around 2017. Endless questionnaires every 2 years. So shut it all down eventually and moved to friendlier pastures.

 

[sherwoodcap]

Well, could you elaborate more on this? Why is it so important? Because this demand really gives you very hard limits...

Otherwise, Dubai really can be a solution (if you take some help; it is, in general, not so easy there to be able building all the setup for yourself).

I'm just not a fan of EMIs and heard some horror stories about them getting locked and funds frozen. It's not something I want to be at risk of.

Had a company account with HSBC HK for many years, but it became too hard around 2017. Endless questionnaires every 2 years. So shut it all down eventually and moved to friendlier pastures.

Where did you move to?

Also, was it that much of a hassle to have questionaires every couple years?

I appreciate the response

Well, could you elaborate more on this? Why is it so important? Because this demand really gives you very hard limits...

Otherwise, Dubai really can be a solution (if you take some help; it is, in general, not so easy there to be able building all the setup for yourself).

Well, could you elaborate more on this? Why is it so important? Because this demand really gives you very hard limits...

Otherwise, Dubai really can be a solution (if you take some help; it is, in general, not so easy there to be able building all the setup for yourself).

You think Dubai is an option? Do I need to be a resident there or be there to open an account?

 

[Fred]

You think Dubai is an option? Do I need to be a resident there or be there to open an account?

You need to be at least a paper resident being every 6 months 1 day to UAE and initially 1 week to get the Residence processed and banking opened.

 

[sherwoodcap]

You need to be at least a paper resident being every 6 months 1 day to UAE and initially 1 week to get the Residence processed and banking opened.

Yeah not a fan of that.

Looking for somewhere can open an account without being a resident.

 

[Fred]

Yeah not a fan of that.

Looking for somewhere can open an account without being a resident.

Days on non-resident banking are count especially in tax heavens.

Your only - very limited - options are then HK Company with HK EMI or US LLC with US EMI - shared accounts with reference for every payment, limitations etc. you know it.

You need to decide but you want to have real physical Bank so go the Dubai way and be fine or come back here in 1 year still looking - don't get me wrong but just "not a fan of that"doesn't get you things done in 2022 - I respect your opinion but it's far away from reality - unfortunately.