OFFSHORE Bank Account
Establishment of a Corporate Bank Account in HSBC Hong Kong 

We are pleased to assist you to set up a corporate account in HSBC Hong Kong. We mainly deal with HSBC SME center  (Small and Medium Enterprises Service Centre) in the building next to our office for the bank account opening for clients. 

Type of Account 

There are several types of bank accounts from which a client could choose for his company, including Hong Kong dollar saving account, Hong Kong dollar checking account, foreign currency checking and saving account and an all-in-one account known as BusinessVantage Account or Business Direct Account. In most of the cases, we would suggest our clients to go for Business Direct Account because it is a truly multi functional account and yet easy to operate. By the way, the bank does not impose any requirements on the account balance.  

The Business Direct Account is an all-in-one account which offers the following banking functions: 

(1) Hong Kong dollars checking account which gives you a check book so as to enable you to settle bills originated in Hong Kong and/or denominated in Hong Kong dollar; 

(2) Hong Kong dollars saving account which allows you to deposit/receive payment in Hong Kong dollars and earn an interest on the balance maintained in that account; 

(3) Multi-currency saving account which allows you to deposit/receive payment in up to 10 major currencies directly and earn an interest on the balance maintained in that account; 

(4) (Optional) Internet Banking which allows you to operate the bank account from any place where you have access to Internet: balance enquiries, internal transfers or international wire transfers; 

(5) (Optional) An ATM card which enable clients to withdraw cash from its Hong Kong dollars saving account maintained in HSBC HK from HSBC ATM machines or any cash withdrawn machines with the PLUS logo all over the world; 

(6) (Optional) Phone Banking which allows you to perform basic banking transactions. 

Requirements 

For the purpose of due diligence in relation to the establishment of a corporate bank account, the bank requires the following documents from its clients : 

( 1)  A set of certified true copy of the full set of corporate documents of the subject company certified by practicing CPA or Lawyer. We will arrange this for you if you will engage us for the bank account opening; 

( 2) The business activities proof of the subject company such as invoices, quotations issued by the suppliers of the subject company, contracts entered into in the name of the subject company or a simple business plan. We will guide you how to write the business plan if you will engage us for the bank account opening; 

(3)  A certified true copy of the valid passport (only the page carrying the personal particulars of the bearer) and recent residential address proof of less than 3 months old such as bank statement, credit card statement, utility bill of less than 3 months old or valid driver licence if covered the full residential address of each director, each principal shareholder, each beneficial owner holding 10% or more interest in the subject company and each bank account signatory. The documents can be certified by either bankers, CPA, lawyers or notary public; 

(4) A minimum initial deposit of HK$ 5 ,000 for its Business Direct Account; 

(5) At least one director or one shareholder must present physically in the branch in Hong Kong where the bank account is to open to answer the bank officer’s questions in relation to the business of the company for the purpose of "know your client’s due diligence responsibility.  We can have some arrangement to avoid the request of clients’ physical presentation in Hong Kong for the bank account opening. The details will be provided in the later paragraphs; 

(6) a recently issued certificate of incumbency of HSBC HK’s format if the subject company is a BVI, Belize or Cayman Islands company and CPA, lawyer or registered agent’s certification letter. 

Note: HSBC Hong Kong reserves all rights to request further information and documents. 

Our Services 

Our services fee for assisting you to set up a Business Direct account in HSBC Hong Kong is US$ . In particular, our fees cover the following items of services: 

(1) Advise you as to the detailed requirements of HSBC Hong Kong; 

(2) Arrange appointment for you with one of the bank officers whom we are working with; 

(3) Arrange other director(s), shareholder(s), beneficial owner(s) and/or bank account signatory(ies) who will not visit Hong Kong in person for the signatures verification and passport and recent residential address proof certification in HSBC overseas branches.  

(4) Accompany you and visit the bank with you for the interview and guide you and assist you to answer the questions they may raise; 

(5) Follow up the bank account opening approval progress and report to you the status once per every two days; 

(6) Do the initial deposit for you upon the approval of the bank account if you engage us for placing the initial deposit; 

(7) Collect ATM card for you if you do apply for an ATM card; 

(8) Provide our Hong Kong office address as the correspondence address for the internet banking PIN number and security device and receive the PIN number and security device on your behalf; 

(9) Arrange the delivery of ATM card and Internet Banking PIN number and security device to you by courier upon we receive them from the bank. 

(10) Arrange CPA certification of incorporation documents per bank's requirements 

Extra Services (in case where the director/shareholder not being able to visit Hong Kong) 

If it is not feasible for either director or principal shareholder to visit Hong Kong only for the bank account opening, we can act as your temporary nominee shareholder holding 10% share(s) in your company so as to enable us to represent the company to set up the corporate bank account in HSBC Hong Kong. In this case, you can do the signature verification and passport and recent residential address proof certification in any of HSBC's branch in any country. The process will look like: 

(1) You bring with you the bank account opening form provided by Mygoing together with your passport, recent residential address proof to a HSBC branch near you; 

(2) You request that the officer from that branch certifies a photocopy of your passport and the recent residential address proof as true copy and witness your signature on the bank accounting opening form; 

(3) You send us the verified bank account opening form and the certified passport and recent residential address proof; 

(4) Mygoing's staff completes the bank account opening forms upon the receipt of your parcel and the completion of the whole incorporation process and then submit the bank account opening application to our bank officers for approval; 

(5) Once the bank account is approved, FH transfers the 10% nominee shares to you; 

Note: We merely act as temporary nominee shareholder for the sole purpose of setting up the bank account only. We will not be in anyway involved in the operation/management of your bank account. You will be the sole bank account signer and operator. Once the bank account is set up, we will transfer the shares back to you immediately. 

Our fee for acting as nominee shareholder for this purpose is USD. This covers handling the paperwork to transfer the shares back to you. 

Time Frame for the Bank Account Opening 

Approval: the time frame to get approval from the bank depends on a few factors such as the business natures, the expected turnover, the nationality of the shareholder and director of the company and the locations of its business partners. In most of the circumstances, the bank account will be approved in 1-5 working days. Once being approved, the bank will issue the bank account number and FH will prepare the bank account details covering all the elements for an international wire transfer and email it to you by email for your record.  

Internet banking PIN number and security device: it takes around 5-7 working days for the bank to set up the Internet Banking Facility and issue the Internet Banking pin number and security device. The pin number and security device will be delivered to clients by courier upon receipt. 

Should you need further information or assistance or ready to engage us for the bank account opening in HSBC HK? Please contact us at + 852 3580 1985 (English and Chinese) or or send email to : fhwAThushmail.com .