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AbacusHKCPA - Company Formation and Company Registration by Hong Kong Accountants (HKCPA)

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8201 0106
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852
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3586 8020
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Service in Hong Kong

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Bank Account Opening

Banks in Hong Kong may change policy in bank account opening requirements without prior notice. Although we endeavors to keep information update, availability of our service and charges still subject to :
  • Final approval of the bank.
  • Overseas branch and office network of the bank.
Our company herewith does not take up responsibility of client’s loss due to unsuccessful opening of bank accounts.

Why using banks in Hong Kong?

Hong Kong is definitely well known for its banking infra-structure. There is no restriction for fund flow into or out of Hong Kong bank accounts. The identity of account holder and transaction information are also subject to very high standard of confidentiality. Comparing with some kind of offshore bank account available in certain country, the benefits include :
  • Clear location of bank account - the accounts are opened in Hong Kong. But some offshore bank accounts are in cities, such as Shenzhen or small offshore islands. Client may never have the opportunity to visit the bank.
  • Lower minimum bank account balance - in Hong Kong, the minimum bank account balance can be as low as HKD 3,000. Below which a monthly administrative service fee of around HKD 50 will be charged. However, minimum balance of most offshore bank accounts is around USD 5,000 and corresponding service fee is around USD 50. The difference in service fee is 7 times.
  • Cash deposit and withdrawal is possible - client may deposit and withdraw fund by cash or by transfer via any Hong Kong branch office of banks. However, for most offshore bank accounts, only wire transfer is acceptable.
  • Available to all nationality - in China, foreign banks offer service of offshore banking for foreigners and foreign companies (such as a Hong Kong company), however, in case of a company, banks request that majority of the shareholders are foreigners.

Therefore, most clients are willing to open bank accounts in Hong Kong where he can visit and carry out transaction.

See also :

Service in Hong Kong > Bank Account Opening > Who can open bank account? Service in Hong Kong > Bank Account Opening > Key points in selecting which bank to open account Service in Hong Kong > Bank Account Opening > What type of bank accounts?

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Services in Hong Kong
  1. Accounting, Audit & Taxation
  2. Document Certification
  3. Bank Account Opening
  4. Company Secretary
  5. Registered Address
  6. Virtual Office
  7. Trading Support
  8. Trademark Registration
  9. Online Credit Card Payment Service

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AbacusHKCPA - Certified Public Accountants base in Hong Kong (HK) - ACCA, HKICPA, providing services of

company formation, financial management, business advisory, accounting and auditing.