Account opening in Hong Kongby firoj Khan social media marketing
WELCOME TO Goldtreeconsultancy.com Business Account Opening Experts in Singapore, Hong Kong and Malaysia!
Applying To Hong Kong Banks? Results After Visiting 20 in 2 days (As an American Entrepreneur)
What is the most important part of opening a new company – in Hong Kong or anywhere?
Getting a bank account opened up.
Having trouble getting a business bank account open in Hong Kong? Or other parts of the world?
You’re not alone.
I’m hearing it more and more from everyone. More and more rejection letters.
Have you been following international business trends over the years? Then you have seen quite a tightening up on new business account openings. Hong Kong is a financial center of the world, yet the past couple years has been getting so much more of a hassle to get an account opened.
As I have been working with so many clients with their bank account opening headaches. This sparked my interest to re-experience this tedious process for myself.
It is much more difficult than “back in the day”!
I spent 2 days visiting as many banks in Hong Kong as I could. There are so many banks in Hong Kong! I estimate there to be over 50, depending on your criteria for a bank – commercial or retail or investment. I was able to cover about 20 of them. That is – depending if you consider walking into a branch and getting an immediate rejection as a bank visit or not!
How Is Your HK Bank Search Going?
Before we get too far into it, let’s share where we are in the Hong Kong banking process, fill out the quick poll below and see where others are in your situation too.
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A reader, Ben, sent me this amazing email and I want to share it with all of you:
Hi Michael,We spoke online a while back regarding a HK bank account, we also met at the DC BKK conference where we spoke about the requirements and struggles of a HK bank account.
The last time I went to HK I came into a few difficulties this time I’m going with a rental month contract for my Bangkok residency (don’t laugh!!), and will explain I’m growing the business in Asia etc and don’t have utility bills etc.
Update from a Reader Nov 2017
Still tough, even tougher, to get a Hong Kong bank. A reader, let’s say “Joe” sent in this report:
we are going round with banks. some feedback as below:dah sing bank: no to passport applicant
ocbc wing hang: we dont accept e-commerce trader
bea: we cant accept TT payment that dont have full details of transaction (reason local bank compliance regulation)
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Created on Aug 1st 2019 01:28. Viewed 232 times.