Hong Kong Banking

Interest in the Hong Kong banking system is increasing as banks around the world come under greater pressure to disclose account holders' identities. Because of its strong banking confidentiality laws, Hong Kong banking is perceived as a stable, reputable banking and financial centre. Healy Consultants assists international entrepreneurs with all aspects of Hong Kong banking, from account opening to assistance with obtaining loans and international mortgages. The following is an overview of the key features of Hong Kong banking.
1.	Hong Kong banking is popular among business people conducting international trading. Aside from its security, Hong Kong banking is available in multiple currencies and features excellent Internet banking facilities, thereby enabling firms to efficiently make and receive payments from clients and suppliers located around the world.
2.	Hong Kong banking is seen as a reputable, and secure, long-term option by global entrepreneurs. Hong Kong, along with a number of other jurisdictions, has recently committed to globally recognized standards set by the Organisation for Economic Cooperation and Development (OECD). This helps ensure Hong Kong’s business environment to be a stable long-term investment option.
3.	To enhance its status as a legitimate, reputable financial centre, Hong Kong banking regulations require financial institutions to know their client. Consequently, strict due diligence requirements are a feature of Hong Kong banking.
4.	Because of the above, international entrepreneurs should expect to wait for up to six weeks for their Hong Kong bank account to be fully opened, including receipt of Internet banking login details and ATM cards. Examples of the client information required by Hong Kong banks includes:
	i)	A detailed business plan giving details of the products and services to be offered by the company, an analysis of the market conditions and information on shareholders, directors and bank signatories.
	ii)	Recent proof of address and passport copies of the bank signatories (in English).
	iii)	Examples of contracts and invoices for the newly-incorporated company to support the application;
5.	Healy Consultants will complete all Hong Kong banking formalities without our client needing to travel to Hong Kong. Our firm is one of the few global professional firms that can do this. Healy Consultants has a 100% approval record for obtaining account opening approvals.
6.	Healy Consultants' Hong Kong banking fees vary according to the scope of services required. However, our fee to assist our client to open a Hong Kong bank account (either corporate or personal) is US$2,300. Please note that this fee neither includes the initial deposit required by the bank nor any corporate credit card application.
Contact Us
For more information on Hong Kong banking, contact email@healyconsultants.com or call us in Hong Kong at +(852) 8331 1911.
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Buy the Hong Kong chapter of Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com