How difficult is it to open a corporate bank account?
2024-5-31
good news! The Hong Kong Monetary Authority announced nine policies on March 28 to support small and medium-sized enterprises in obtaining bank financing and assist them in their continued development. Unfortunately, the new nine policies do not mention relaxing the requirements for opening a bank account, that is, it will be as usual.
As the economy returns to normal, many clients are asking for the applications of opening corporate bank accounts. Nowadays, an important concern for many clients when setting up a company is whether they can successfully open a bank account.
It is indeed very difficult to open an account now. You can know the degree of difficulty by taking a look at the process: First, you need to make an appointment, and then you need to provide a series of company documents to the bank for approval, including: company establishment documents, business plans, shareholder background, and internal transaction records. , external business documents, etc.; the bank has to do due diligence and other procedures. The back and forth process can take several months, but it is unknown whether the account can be successfully opened. If it is unsuccessful, the bank will not provide the reason.
Our company has close working relationships with many banks, including large, medium and small banks. Our company can assist customers in identifying bank accounts. We will first conduct a preliminary review based on the customer's company type, documents provided, etc., and then arrange for a suitable bank to open an account. We will then follow up closely with the bank, which can effectively improve the efficiency of the application and the chance of successful account opening.
If customers need to open a Hong Kong bank account or have related inquiries, please feel free to contact us.
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