Opening Company Bank Account
Opening Company Bank Account
With the financial status and the benefit of the taxation system, Hong Kong enjoys an ideal location that enables the local businesses and those from Mainland China to tap into the opportunities and thus the demand of opening a bank account in Hong Kong increases drastically. Yet, the requirements of opening a business or corporate enterprise account at the various banks, bound by the authorities, become tougher than before.
Compass provides an one-stop solution for incorporation in Hong Kong including opening the business bank account for the people who wish to get their startup or branches in Hong Kong to move on.
Opening Company Bank Account
- Account opening consultation: We provide information and suggestions on various Hong Kong banks to assist customers in selecting the most suitable banking institution.
- Document preparation: We assist in preparing the required documents and application forms to meet the bank’s account opening requirements. This includes company certification documents, shareholder and director information, and, if necessary, accountant certification documents (certified by Hong Kong certified public accountants, with additional fees required).
- Bank appointment: We also handle bank appointments on behalf of our customers, eliminating the need for them to queue at the bank and expediting the account opening application process.
Importance of a Company Bank Account for Business
Never consider of using the personal bank account, not even an integrated bank owned by a person, for any revenue-generating business.
Any transaction will be recorded at the bank as a breach of the Hong Kong law and your personal may have a chance to get frozen by the bank.
In 7 years, you cannot re-open a new account at that particular bank and its group of financial institutes. ，Worse still, the record of violation may be recorded in the database as a fraud case for a longer period.
Procedures for Opening Bank Account in Hong Kong:
- Submit a bank account opening application
- Approval by the Due Diligence Department of the bank
- The final account number is issued upon approval from the due diligence
- Deliver a cheque Book
- Deliver passwords for online banking
- Activate online banking password
- First time online banking registration service
- Deliver or obtain ATM card and password
- Deposit start-up funds
Required Documents:
- CI/CR
- BR
- Business Registration Annual Return / NNC1
- Proof of Identity
- Residential Address document
- Monthly Bank Statement
- Related person’s mobile phone number
- Related person’s email address
- Copies of documentary evidence proving that the applicant has substantive business operations OR Proof of related working experience of Directors (e.g. contracts, documentary bills, receipts, invoices, quotations and so on)
Tel：+852 9261 3400
Or Email：info@accolink.co
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