Hong Kong Company Bank account? (Real Bank)

[JimBeam]

Have you checked this:
https://statrys.com/hong-kong-company-registrationNot sure what bank account they offer but might be interesting.

Also why not open an EMI and bank account somewhere else (like CIM in Switzerland).
You collect all money with EMI and move majority to bank account and that's it.
There are number of EMIs working in HK so you could have a couple open as well.

 

[banafinfodafuggiano]

Have you checked this:
https://statrys.com/hong-kong-company-registrationNot sure what bank account they offer but might be interesting.

Also why not open an EMI and bank account somewhere else (like CIM in Switzerland).
You collect all money with EMI and move majority to bank account and that's it.
There are number of EMIs working in HK so you could have a couple open as well.

I heard CIM is expensive to maintain? Can you open it remotely?

 

[JimBeam]

I heard CIM is expensive to maintain? Can you open it remotely?

Yes and Yes

 

[bibing]

Do you know any good bank that has more success rate at opening accounts than others to avoid?

Definitely that would be Hang Seng Bank (owned by HSBC)

 

[Mike Forman]

Definitely that would be Hang Seng Bank (owned by HSBC)

I don't believe so, Hang Seng Bank is more difficult than HSBC to open a bank account.

Chances are nil you will be able to open a HK corporate bank account if you have not ties to Hong Kong or Mainland China. Even when you have ties to Hong Kong banks request proof of bills and bank statements of the last 3-6 months of any transactions with Hong Kong or Mainland China.

Even for local Hong Kong residents with business record opening a business bank account is challenging.

Without any agent that has connections with banks chances definitely are nil, with an agent without connection they might be still almost nill but they will at least make first the assessment and see if it's possible.

An option is to open a bank account in Singapore or Taiwan for a Hong Kong company, Singapore banks will require a minimum deposit and Taiwan Bank better use an agent.

We have the experience with multiple banks and have ties/corporations in Mainland and Hong Kong.

It doesn't harm to go to Hong Kong, but I will guarantee after shopping with all banks the rate of succes will be nil. Use a Hong Kong agent that is reliable and has connections with multiple banks, they can assess the situation and will be able to give the best advice and assess if it's possible or not.

 

[keyxxx]

try currenxie, they using Citibank account.

 

[thomasparra]

What are the advantages of banks versus EMIs? For a very small company that does not require loans, or other type of financial products?

 

[bibing]

What are the advantages of banks versus EMIs? For a very small company that does not require loans, or other type of financial products?

I still need to see a brick-and-mortar bank block any of my accounts. EMIs on the other hand....

 

[thomasparra]

I still need to see a brick-and-mortar bank block any of my accounts. EMIs on the other hand....

I have seen it.

 

[jafo]

Use a Hong Kong agent that is reliable and has connections with multiple banks, they can assess the situation and will be able to give the best advice and assess if it's possible or not.

This makes NO sense to me. I'll explain why.

1. Hong Kong Agent A, hereinafter referred to as HKAA doesn't know me, Hong Kong Client C, hereinafter referred to as HKCC.
2. Hong Kong Bank B, hereinafter referred to as HKBB also doesn't know me, HKCC.
3. HKBB tells me, HKCC, they won't open my account because they don't know me. Fair enough.
4. HKAA, I pay money to and they go to the same HKBB and present my same information, HKCC, and now ALL of a sudden, HKBB will accept me, HKCC???

What's going on here?
Who is greasing the hands of whom?
Is someone "bribing" someone at the bank to accept me now?
How is this NOT an FCPA violation ... if the bank is a state-owned entity or partially owned by the state?

This whole thing blows my mind. What am I missing here?

I have seen it.

True, but one can walk in and raise H*ll! You can walk in and serve them with law suits etc. Also, nobody in compliance or any bank manager is looking to walk home peacefully knowing they just robbed a determined client that may or may not be waiting for them in the shadows!
https://www.dailymail.co.uk/news/ar...ank-manager-doorstep-asks-KATHRYN-KNIGHT.html
PS. There was a site that kept track of bank employees who were targeted. The site was taken down by court order. The last time I saw the site it was on the dark web. The banking industry is actively trying to censor the site. I guess they don't want copycats. That's what I speculate. I really have NO information other than what I've found and read online.

 

[Mike Forman]

This makes NO sense to me. I'll explain why.

1. Hong Kong Agent A, hereinafter referred to as HKAA doesn't know me, Hong Kong Client C, hereinafter referred to as HKCC.
2. Hong Kong Bank B, hereinafter referred to as HKBB also doesn't know me, HKCC.
3. HKBB tells me, HKCC, they won't open my account because they don't know me. Fair enough.
4. HKAA, I pay money to and they go to the same HKBB and present my same information, HKCC, and now ALL of a sudden, HKBB will accept me, HKCC???

What's going on here?
Who is greasing the hands of whom?
Is someone "bribing" someone at the bank to accept me now?
How is this NOT an FCPA violation ... if the bank is a state-owned entity or partially owned by the state?

This whole thing blows my mind. What am I missing here?

As mentioned in my post, an agent can asses your situation first and evaluate if you will be eligible to open a bank account or not. This will save you time and money.

They don't bribe banks nor have special backdoors, they will only speed things up so you don't have to go through the normal clerks to provide everything. The agent makes sure all required information to open successfully a bank account is well prepared and provided to the bank. They will then arrange the interview with the bank and the account can be opened in 2 months.

It is important to chose a provider that offers a full refund if they didn't succeed opening a bank account.

Doing this yourself will take at least 6 months, most banks you have to pay as well an "investigation fee" before they are willing to open an account which you agree to forfeit even when you get rejected (around 1000hkd+)

This is our experience and although we have opened different HK bank accounts ourselves, we won't go through the hassle and months of waiting again. Last opening of a bank account took 8 months! This with historical transaction records of the HK company including bank statements from another HK bank (that had closed the account) and the company 100pct run / owned by a HK director / HK shareholder.

If someone has the time and patience to visit banks in Hong Kong and can wait 6-9 months to receive a rejection, one can try.

We are at present setting up a new HK corporation and use an established agent to open a business bank account either in HK or Taiwan, while HK is at our doorstep.

 

[jafo]

As mentioned in my post, an agent can asses your situation first and evaluate if you will be eligible to open a bank account or not. This will save you time and money.

They don't bribe banks nor have special backdoors, they will only speed things up so you don't have to go through the normal clerks to provide everything. The agent makes sure all required information to open successfully a bank account is well prepared and provided to the bank. They will then arrange the interview with the bank and the account can be opened in 2 months.

It is important to chose a provider that offers a full refund if they didn't succeed opening a bank account.

Doing this yourself will take at least 6 months, most banks you have to pay as well an "investigation fee" before they are willing to open an account which you agree to forfeit even when you get rejected (around 1000hkd+)

This is our experience and although we have opened different HK bank accounts ourselves, we won't go through the hassle and months of waiting again. Last opening of a bank account took 8 months! This with historical transaction records of the HK company including bank statements from another HK bank (that had closed the account) and the company 100pct run / owned by a HK director / HK shareholder.

If someone has the time and patience to visit banks in Hong Kong and can wait 6-9 months to receive a rejection, one can try.

We are at present setting up a new HK corporation and use an established agent to open a business bank account either in HK or Taiwan, while HK is at our doorstep.

To each their own, but I would NEVER personally do this. Ever! To me, this reeks of "Vetternwirtschaft" and I couldn't, in good conscience, defend an accusation against this, so I'll pass. I'll leave it to more sophisticated and learned experts. I wish good luck to those who go down this path and may they profit.

 

[JohnTIAN]

OCBC is a good choice, so have you successfully opened a business account now?

 

[Forester]

To each their own, but I would NEVER personally do this. Ever! To me, this reeks of "Vetternwirtschaft" and I couldn't, in good conscience, defend an accusation against this, so I'll pass. I'll leave it to more sophisticated and learned experts. I wish good luck to those who go down this path and may they profit.

Well, I – hopefully – understand your position. Nevertheless, try to look at the situation similarly as in our discussion here Crypto Friendly Bank. This is not the same situation but very analogical...