Bank Account FAQs

How to open a bank account after forming a company? 
You may bring along company registration documents and go to the bank personally. Or, you can inform us in advance, we will make the necessary arrangements. You can choose in Hong Kong or in China to open bank accounts. In Hong Kong called the local account; the mainland is called off-shore accounts.

All directors are required to open a bank account in person? 
Not necessarily. Some banks require all directors, whether or not the right person at the bank must sign and sign in front of the bank staff for confirmation. In addition, some banks do not need go to the bank personally, bank staff can be arranged at your company to handle. 

How long for account to be operated? 
pon conclusion of the account opening procedures, the bank will search companies normally require 10-15 working days, ranging account before they can operate. 

How much accounts can a company open? Is there any connection between them? 
In Hong Kong, you can open unlimited accounts. Their function and status are the same. Perspective from the bank between them and not necessarily linked. But in the account per year, you must list all of the banks has been centralized.

Can Hong Kong personal accounts send money China offshore company account?
Hong Kong personal bank account can send money to domestic offshore company account. Each bank needs to charge a fee in Hong Kong, while the fee is usually 160-200 dollars each. 

How to open an individual bank account in Hong Kong? 

Holders of valid personal identification (identity card, passport), proof of address (water, electricity lists, phone bills and other government issued proof of the address and name can be), the initial deposit, the amount depends on the bank may be, can be in Hong Kong for an individual account.

Introduction of Overseas Accounts 

Overseas Accountsrefers to the foreign companies in China to open a bank account. China's offshore accounts from foreign exchange controls, free flow of capital.

The benefit of open offshore accounts in Hong Kong
  • Free transfer of funds: offshore accounts is equivalent to a bank account opened abroad, free from the transfer of funds offshore account, from the domestic foreign exchange controls.
  • Deposit interest rates, species subject to restrictions: deposit interest rate, variety from domestic regulatory restrictions than similar domestic and foreign banks offer deposit interest rates, access to flexible. In particular, large deposits, according to customer needs, in the interest rate terms are tailor-made, flexible and convenient.
  • Deposit interest exempt from tax: offshore account to access the Chinese Government shall deposit interest tax exempt interest, the actual net income is more substantial offshore deposits.
  • Comprehensive domestic and foreign capital to improve operational efficiency: to take full advantage of offshore banking services can also provide offshore banking functions with a full-service features, lower overall cost of funds to speed up domestic and foreign cash flow and improve fund use efficiency.
  • Control within and outside the operation: the use of offshore accounts to foreign exchange is a very convenient payment free. But you can not deposit cash offshore accounts, offshore account is the name of an overseas company to open, so the offshore account of foreign exchange will receive the income of overseas companies are not part of your income of domestic companies. Suppose a company in a certain volume of business abroad occur if use an offshore account to collection, then this business can play in a reasonable taxation arrangements and the future development of the company has great benefits.

Bank Account

Introductions of Standard Chartered, HSBC, Hang Seng Bank Account 

All directors to open account directly in Hong Kong? 

Bank Limited, all the directors general requirements as far as possible in person to the bank account opening procedures, such as the director of the mainland of China have to hold a Chinese passport or permit to travel between Hong Kong and Macao to open an account. 

How about directors can not personally approach to Hong Kong to open an account? 

As some of the directors is not convenient to the Hong Kong bank account directly, they can in the bank's branches in China, such as: Shanghai, Beijing and Shenzhen. . Sign the account opening documents, etc. (called the signature witnessed), but this service will be charged additional handling fee. As more of these accounts? Complex, can consult us before opening. 

Do all directors need go to the Mainland to open offshore accounts of foreign banks? 

f you do not have passports, you can go to Hong Kong banks to set up branches in China to open offshore accounts, banks set up branches in Guangzhou, Shenzhen, Hong Kong banks in branches. Account signatories and non-account director who signed with the Mainland of China as long as you can apply for identity cards.

Required Documents
  • A certified copy of the Company registration certificate
  • A certified copy of the Business registration certificate
  • The notice of appointment of directors and a certified copy of the Secretary
  • A certified copy of the Articles of Association
  • Each director's identity card, passport (need to bring the original)
  • Proof of residence of each director
    (Water, electricity bills, phone bills and other government issued proof of the address and name will be)
  • Certification Letter from CPA & Director Declaration
Overseas Company Formation Documents
  1. A certified copy of the Company registration certificate
  2. A certified copy of Shareholders and Directors list
  3. A certified copy of registered articles of association and the amendment resolutions
  4. Certification Letter from CPA and Certificate of incumbency
  5. Each director's identity card, passport (need to bring the original)
  6. Proof of residence of each director
    (Water, electricity bills, phone bills and other government issued proof of the address and name will be)