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

Each bank has its own account opening policy and procedures. Depsite that similar services are being provided, there are some key differences that client should consider when selecting which bank to use :

Document requirements and handling fees for account opening

• some banks requires the documents to be certified by Hong Kong CPA;
• some banks will charge handling fees for setting up the bank account;

Internet banking functions & registration procedures

• banks offer similar internet banking functions but may have different security requirements;
• some banks will require client to sign acknowledgement receipt after recieving internet banking materials before they can proceed to registration;

Monthly maintenance fees

• different banks may have different minimum average bank balance requirement;
• the average bank balance requirement ranges from HK$ 0 to HK$ 500,000 ;
• below the specified amount, there'll be monthly administration fees ranges from HK$ 0 to HK$ 400 ;

Whether client need to visit HK in person to sign account opening documents

• most banks requires that client visit Hong Kong in person to sign the account opening documents;
• some banks can arrange client to sign at overseas branch in client's local city;