Hong Kong Outside

Operation of a Bank account in Hong Kong

Hong Kong is considered one of the major financial centers of Asia. With over 100 licensed banks, Hong Kong offers various services related to finance customers in Hong Kong and the Asia-Pacific region. You can avail of services like corporate banking, retail banking, investment services and trade finance each and every bank in Hong Kong. Some major banks around the world including banks Canadians have their representatives here. On the basis of the viability and credit risk of the company concerned, most banks in Hong Kong provide expanded banking. If you are a foreigner, you can check with your existing bank to confirm if they have a division here. It is also recommended to ask for details services they offer.

Currently, it is a simple process to open a new account with any bank in Hong Kong. To start a new business account, the first step is to register your business. If you are already registered, you can open the account with the required documents, such as business registration certificate attached to the regulation regarding the registration forms, the certificate of incorporation, memorandum and articles of association, proof of identity of all directors and copy of board resolution indicating approval of the board to start a new account.

To open bank accounts, the company must be registered in Hong Kong. The authority of Hong Kong does not allow all types of structures in the company to file, only certain structures of the company are allowed. There are three types of companies allowed to register as a wholly foreign owned enterprise, joint ventures and representative office. You can open an account based in the structure of the company.

A representative office is limited to only open foreign currency accounts and RMB business expenses while on company property wholly foreign and joint can open bank accounts, including basic accounts, capital accounts and current accounts. You can not open a basic account and the current account in the same bank.

Account Type:
1. RMB Corporate Accounts
This account includes basic account, account periodically temporary special account and the account.

You can use a basic account to fund transfers, payroll and cash deposits and withdrawals. Regular accounts are for cash management needs and can not withdraw money from this account. A special effects, including infrastructure construction, reconstruction, commercial agencies, credit cards, you can go to a special account. If you are planning to start a temporary business in Hong Kong, it is better go with a temporary account. You can receive electronic remittances into and through the draft this account.

2. Foreign currency accounts:
This type of account, including capital account, basic account or the account settlement, credit score and loan repayment account.

An account contribution of capital is capital and operation that can make foreign currency transactions on settlement accounts. A credit score is for loans foreign currency from a bank in Hong Kong. For loan capital and repayment of interest, you can use the service of a loan repayment account. Approval of the State Administration of Foreign Exchange (SAFE) is required to open a capital account and foreign currency settlement account.

You can use bank accounts in Hong Kong outside the metropolis through the following ways.

i) Telephone Banking / Internet Banking Service
Hong banks Kong as HSBC and SCB to provide this facility. You can use this service through the Internet to make balance inquiries and cash transactions. HSBC offers an exception monthly payment of HK $ 80, if the account maintains a monthly average balance of HK $ 50,000. In the case of SCB, offers a monthly payment than HK $ 150, if the account maintains a average daily balance of HK $ 50,000.

ii) ATM card
You can use ATM cards to withdraw money from the bank account. Specific ATMs are there to use so-called "Plus HSBC and Cirrus to SCB. There will be a charge for this service if the transaction you are outside Hong Kong.

Pompey fans celebrate outside Hong Kong Stadium

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