Hongkong Company Formation

Bank Account Opening Services

Bank Account Opening Services

       

Most Youfu Accountants Limited clients who purchase an offshore company also need banking and investment services to enjoy the full benefits of going “offshore”. Youfu Accountants Limited provides a full range of banking and investment services through its affiliates in various countries. We are able to handle the entire account opening process for you so you do not need to visit the bank or investment company in person. Depending on the bank selected, credit cards and/or debit cards are available, together with ATM cards, telephone banking and internet banking services.

 

       Establishing an offshore bank account is not a simple matter and some offshore and international banks may take more than one month to open a bank account from receipt of the completed documents. Upon understanding your business objectives and personal requirements our consultants will be happy to advise you on a suitable bank and bank account to meet your specific needs.

 

       Please note that Youfu Accountants Limited only offers assistance with opening corporate accounts for companies under our management.

 

          It is widely acknowledged that Hong Kong may soon become the Switzerland of the Far East , this is due to its power and status of a special economic zone in the world's most populous nation. The territory has also benefited from the recent clampdown by the EU and the OECD on tax havens with many wealthy account holders shifting funds towards Asia . Hong Kong is one of the only offshore banking centres which will not be subject to “automatic exchange of information”, under the new EU directive on withholding tax for savings accounts which will affect not only the EU Member States but "all territories under their control", Switzerland and the USA .

 

     If you are trading internationally, the banks we recommend in Hong Kong offer unique Multi Currency accounts, which allow you to receive and remit funds in over 8 major foreign currencies, including US Dollar, EURO, Sterling, Australian Dollar, Canadian Dollar, Japanese Yen, Singapore Dollar and many more. For your convenience, the bank will allocate you only one account number but the different currencies will be held in sub accounts under this one account number

 

What documents are required for opening bank account?
   
 
Documents Required for opening bank account  Open Hong Kong Bank Account
Standard Chartered / Hangseng / ABN-AMRO Citibank HSBC
1. Director Passport or Hong Kong Visa No Yes Yes
2. Director come to Hong Kong for signature No Yes Yes
3. Personal Bank Account reference letter No No Yes
4. CPA bank account opening document Yes Yes Yes
5. Company documents Yes Yes Yes
6. Business prove Yes Yes Yes
7. Sponsor letter (providing by our company) Yes Yes Yes
8. Shareholder and Director address prove Yes Yes Yes
9. Verify signature in China branch No / Yes / Yes No No
10. Bank account location Shenzhen / Hong Kong, Shanghai Hong Kong Hong Kong
11. Bank Account opening location Hong Kong, Shenzhen, Shanghai Hong Kong Hong Kong
12. Capital transfer No foreign exchange control Free Free

 

 

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