OPENING A BUSINESS ACCOUNT IN HONG KONG

Opening a Business account in Hong Kong, especially for the first time entrepreneurs out there, might be a bit scary. This article will hopefully ease your jitters, by trying to tell you what documents you need for opening a Bank Account, and at what bank(s) you should consider going to open your bank account.

DOCUMENTS FOR OPENING ACCOUNT IN HONG KONG

All banks in Hng Kong require you to bring three documents for your Business for opening. They are as follows:-

1. Copy of Certificate of Incorporation and subsequent certificate of change of name, if any

1. Copy of Business Company Registration Certificate

1. For newly established companies:

-         Copy of Notification of First Secretary and Director( Form D1)/Incorporation Form( Company Limited by Shares)( Forms NC1)/Incorporation Form( Company Not Limited by Shares)(Form NC1G)

These documents as noted above, are documents in order for you to incorporate a limited company. A number of formation companies in Hong Kong can help you do all these,  for a fee.

If you have any further questions or enquires about these documents as mentioned above, please refer to the article on these documents under Business Resources on this website.

WHAT BANKS TO CONSIDER:

Hong Kong has a number of banks, including Standard Charter Bank, DBS Bank, HSBC. The full lists of banks can be found here in Wikipedia.

For the entrepreneurs out there, visiting all the banks in Hong Kong to set up a Bank Account, are tedious at best. Frankly, many banks require a minimum capital of at least HK$ 50, 000. If you would like to open a bank account with a minimum amount of money, then HSBC is a serious consideration. Opening a bank account requires a minimum of HK$5,000. However, take note that HSBC will charge you a one- off an approximate amount of HK$ 200 to 300 for administer charges.

Hopefully, this article has been helpful to all you aspiring Entrepreneurs out there. For more articles on other business topics, kindly consider taking a look at the other categories on this website.