Offshore Banking in Hong Kong |
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Hong Kong offshore banking strategies are popular due to Hong Kong’s excellent reputation as a financial and banking centre. Furthermore, thanks to Healy Consultants’ professional, efficient, and straightforward approach with offshore corporate services, clients are able to open a Hong Kong corporate bank account quickly and easily. The following is an overview of the main features of offshore banking in Hong Kong. |
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| 1. | Offshore banking in Hong Kong takes approximately four to six weeks to fully set up. It takes two weeks for Healy Consultants to prepare a complete Hong Kong corporate bank account application and a further two weeks for the bank to review and approve the application as well as provide all necessary details such as i) corporate bank account number ii) ATM card iii) Cheque book iv) Internet banking PIN numbers and v) the Internet banking security device. |
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| 2. | The Hong Kong government requests local banks to implement strict 'know your client' procedures at the time of opening a Hong Kong offshore account to ensure the capital inflows are legitimate and clean. |
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| 3. | Because of the above, it is often difficult for international companies to open a corporate bank account in Hong Kong. However, Healy Consultants has a 100% approval record for obtaining Hong Kong corporate bank account approvals. |
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| 4. | Client information typically requested to open a Hong Kong corporate / offshore account includes: |
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i) |
A detailed business plan with information on, and evidence of, products and services which forms part of the Hong Kong corporate bank account application; |
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| ii) | Examples of contracts and invoices generated by and for the newly-incorporated company to support the Hong Kong offshore account application; |
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| iii) | Recent proof of address of the bank signatories (in English) to accompany the Hong Kong corporate bank account application; |
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| iv) | Passport copies of bank signatories to accompany the Hong Kong corporate bank account application; |
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| v) | A bank reference letter for the bank signatories to accompany the Hong Kong corporate bank account application. |
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| 5. | One significant development in the Hong Kong banking sector is the Government’s initiative of setting up a bond programme. This programme is meant to further reinforce Hong Kong’s reputation as a global financial powerhouse. A key focus is on Islamic Finance, with the aim of creating a level playing field for both Islamic and conventional banking products. |
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| 6. | Healy Consultants is one of the few global professional firms that can assist in opening a Hong Kong offshore account without our client needing to visit Hong Kong. Our firm prepares all Hong Kong offshore banking documents and attends a bank interview on your behalf. |
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| 7. | Offshore banking in Hong Kong is secure and projects a good image to international customers and suppliers. Clients banking in Hong Kong enjoy strong client confidentiality guidelines, which have recently been incorporated with Organisation for Economic Cooperation and Development (OECD) standards. |
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| 8. | Hong Kong Offshore banking portrays an excellent image to customers, suppliers and even investors. |
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| 9. | Features of offshore banking in Hong Kong include multi currency accounts and exceptional Internet banking facilities. |
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| 10. | The initial deposit for a Hong Kong corporate bank account is US$2,000. This is a bank requirement. |
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| 11. | Demand for offshore banking in Hong Kong is soaring thanks to increased capital flows from West to East (see a related article here). |
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Healy Consultants' Fees to Complete Hong Kong Offshore Banking |
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Our fee to assist you to open a Hong Kong corporate bank account amounts to US$2,300. This fee includes: |
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| 1. | Healy Consultants completing all Hong Kong corporate bank account opening forms on your behalf. All you have to do is sign at the designated places on the forms; |
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| 2. | Submitting the Hong Kong corporate bank account application form to the bank in conjunction with your company's certified incorporation documents and relevant due diligence provided by the bank signatory(ies); |
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| 3. | Preparing a business plan explaining why you chose offshore banking in Hong Kong; |
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| 4. | Healy Consultants attending a bank interview on your behalf, describing your global business activities and explaining why you require a Hong Kong corporate bank account. |
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| 5. | Paying the initial Hong Kong corporate bank account deposit into the account, and e-mailing a scanned copy of the deposit slip to you as verification; |
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| 6. | Healy Consultants can further assist with offshore banking in Hong Kong by applying for corporate Internet banking facilities on your behalf; |
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| 7. | Applying for a corporate ATM card and corporate cheque book on your behalf; |
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| 8. | Healy Consultants receiving the credit card, ATM card and cheque book in a sealed envelope, and passing this on securely to you. |
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Please note that this fee does not include the initial deposit required by the bank, and does not include our fees to assist your application for a corporate credit card. |
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Other Information |
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Please refer to our International Banking page for more information on the different banking options available to you. |
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Contact Us |
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For more information on Hong Kong offshore accounts, email email@healyconsultants.com or call us in Hong Kong at +(852) 8331 1911. |
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Back to Hong Kong Company Formation page. |
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Buy Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or e-mail email@healyconsultants.com
