Ok so my experiences trying to open hongkong bank account for my seychelles ibc

[providenceventurer]

Hello Guys ,as i am in Hongkong for two days i thought of trying to open a bank account in hongkong for my seyclles ibc(here is an excerpt of my experiences) .I tried this knowing fully well that " short answer is No and long Answer is Noooooooo" as mentioned by @daniels27 in another thread.
But as you know i am a very stubborn diy person and want to test everything for its validity so here goes my experiences shortly:

Dah sin bank- Nice person kept on telling me low chances and scare me away stating 10000 hkd is opening fee and will not be returned if it fails to open also, he also told me they kept on asking for more and more documents from another such business for 9 months before saying no to them.Meanwhile he picked up the phone and talked to somebody then he told me to try in another bank.

Hang seng bank:Tried to open two places.First one not successful.Second one a guy gave me printout for their business centre building in 3 places and told me to try there with one in Tshim Tsha Tshui.Tomorrow will try if time permits.

Public bank: Told me no.And i told them that my company buying computer hardware from MongKok market would benefit the local supplier and being a public bank they should be trying to help the local economy - he told me thank you.

Hsbc- gave me forms with which i think i can open i will upload those forms here.

Icbc- told me to get an appointment and come in March via their website

Ccbc( construction bank of china )
A nice lady told me to go to 773 nathan road branch to try my luck.Tomorrow will try.


Two more banks i tried cant remember immediately but got their website will update shortly.

 

[daniels27]

Dah sin bank- Nice person kept on telling me low chances and scare me away stating 10000 hkd is opening fee and will not be returned if it fails to open also, he also told me they kept on asking for more and more documents from another such business for 9 months before saying no to them.Meanwhile he picked up the phone and talked to somebody then he told me to try in another bank.

One of the few local Hong Kong banks. Not very likely to deal with any non-Hong Kong companies. High fees are pretty standard for non-local companies in Hong Kong. Even for local companies, 2000 HKD is nothing special.

Hang seng bank:Tried to open two places.First one not successful.Second one a guy gave me printout for their business centre building in 3 places and told me to try there with one in Tshim Tsha Tshui.Tomorrow will try if time permits.

Hang Seng Bank is part of HSBC. HSBC used to be open to BVI companies but not anymore for about 2 years now.

Public bank: Told me no.And i told them that my company buying computer hardware from MongKok market would benefit the local supplier and being a public bank they should be trying to help the local economy - he told me thank you.

It was Asia Commercial Bank Limited and then bought by a Malaysian company. Don't see big chances.

Hsbc- gave me forms with which i think i can open i will upload those forms here.

See above.

Icbc- told me to get an appointment and come in March via their website

Chinese bank, not really known to open such things.

Ccbc( construction bank of china )
A nice lady told me to go to 773 nathan road branch to try my luck.Tomorrow will try.

Not much chances with this bank to be honest.

You should try Bank of China. You may have chances there. Tomorrow is Saturday, probably not the best day for business banking.

 

[providenceventurer]

The two more are Communications bank - the bank executive told me on my face that they had too many account opening cases so he would not entertain mine .Thought of kicking his balls so that it came out of his mouth for saying it.My frontfoot kicks during college were pretty lethal i can still pack a punch.

And the next one which is the first one when trying was NCB.Where the executive told me yiu need to register your company in hongkong atleast a subsidiary needs to be registered.

Apart from this now i remember i went to another bank cant remember it right now will check my diary and update here.

 

[providenceventurer]

One of the few local Hong Kong banks. Not very likely to deal with any non-Hong Kong companies. High fees are pretty standard for non-local companies in Hong Kong. Even for local companies, 2000 HKD is nothing special.


Hang Seng Bank is part of HSBC. HSBC used to be open to BVI companies but not anymore for about 2 years now.


It was Asia Commercial Bank Limited and then bought by a Malaysian company. Don't see big chances.


See above.


Chinese bank, not really known to open such things.


Not much chances with this bank to be honest.

You should try Bank of China. You may have chances there. Tomorrow is Saturday, probably not the best day for business banking.

Yes tried with bank of china he said we dont do offshore company bank account.I was thinking of doing the pretty face by his side then and there.

 

[Marzio]

want to test everything for its validity

Thank you for sharing your experince with us

 

[Sols]

You can try DBS, OCBC, Citibank, or Standard Chartered, if you first open a personal account and deposit at least 1-2 million HKD/equivalent. But even then, Seychelles IBC is one of the dirtiest entities you can have. Maybe if you have a local HK company or at least something more reputable than Seychelles...

Regardless of which bank you go with... Even if you manage to open an account, keeping it open is a different story.

 

[providenceventurer]

You can try DBS, OCBC, Citibank, or Standard Chartered, if you first open a personal account and deposit at least 1-2 million HKD/equivalent. But even then, Seychelles IBC is one of the dirtiest entities you can have. Maybe if you have a local HK company or at least something more reputable than Seychelles...

Regardless of which bank you go with... Even if you manage to open an account, keeping it open is a different story.

Will try tomorrow and update.

 

[providenceventurer]

I am guessing no member of OCT is here whom i can share a good coffee with in Hongkong.All are quite busy maybe .Would have loved to get to know more in person about this place.

 

[providenceventurer]

One of the few local Hong Kong banks. Not very likely to deal with any non-Hong Kong companies. High fees are pretty standard for non-local companies in Hong Kong. Even for local companies, 2000 HKD is nothing special.


Hang Seng Bank is part of HSBC. HSBC used to be open to BVI companies but not anymore for about 2 years now.


It was Asia Commercial Bank Limited and then bought by a Malaysian company. Don't see big chances.


See above.


Chinese bank, not really known to open such things.


Not much chances with this bank to be honest.

You should try Bank of China. You may have chances there. Tomorrow is Saturday, probably not the best day for business banking.

I must say you were pretty spot on when you said short answer is No and long answer is Nooooooo .Appreciate your wealth of knowledge.But yes i cant help testing things out sometimes if i have the resources .Thanks though .

 

[ActionMan]

mate, just open a HK LTD, you can get it done in like ~ 5 days, a good business model and you can pretty much bank with DBS, OCBC, BOC, and HSBC...etc.

I have a couple of accounts with DBS and SC. all great so far.

 

[daniels27]

mate, just open a HK LTD, you can get it done in like ~ 5 days, a good business model and you can pretty much bank with DBS, OCBC, BOC, and HSBC...etc.

I have a couple of accounts with DBS and SC. all great so far.

@providenceventurer try to resist the temptation. It will cost you 10k HKD for the annual audit alone.

 

[providenceventurer]

@providenceventurer try to resist the temptation. It will cost you 10k HKD for the annual audit alone.

Ya i dont want chinese bureaucracy in my business anyway.That also that much costly bureaucracy.I wanted to see how far i can go with my seychelles ibc- since it is the black sheep in the pack.However all the wool also comes from the same Ba Ba Black Sheep. .There is a huge need for privacy which i don't really want to give up just because the chinese are telling me to do it in Mandarin