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A Guide To Hong Kong Banks

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As more and more people feel the need to have an offshore bank account, the more our governments feel the need to tighten the noose and prevent their citizens from financial security. Many governments like the US government actively look to crucify or tie up with foreign banking institutions to impose regulations and terms that are largely unfair and prevent American citizens from diversifying their risk of investment and safeguard their money.

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Hong Kong banks however have not fallen prey to such tactics and as a result remain some of the best banks in the world to open a bank account. For long now, Hong Kong banks have been the center of attraction for people who desire a greate3r amount of control on their money and financial freedom.

Why Hong Kong?
Hong Kong has made itself a lucrative destination for the money of the rich and the famous coz of its iron clad banking system that tolerates no nonsense. Unlike American banks, you won’t receive flyers and spam mail encouraging you to open a bank account with so and so bank. No sir. On the contrary, many of the elite Hong Kong banks will require that a potential non resident customer be referred by an existing resident customer before they will even consider reviewing the account application.

At the same time there are multi national banks like HSBC that are friendlier and will very likely grant you an account, provided you be in solid financial standing. Most other banks that are used for offshore banking are however privately run operations that are run in a conservative manner making things a bit more difficult. The truth is that most Hong Kong banks do not need the money from the west, as they have plenty of it coming from the Chinese mainland, now that the boom in China has rendered plenty of its people in a rather rich state of affairs.

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Opening a offshore account in Hong Kong
Though most Hong Kong banks will prefer that you be a resident in order to open an account, it can be a rather tricky affair. Even if you do consider moving to Hong Kong, the real estate prices and the cost of living is enough to deter anyone. This makes Hong Kong banks out of reach for most regular people who are considering offshore banking.

There is however a way around it and it is actually rather simple. Instead of individual residency, you can establish corporate residency in Hong Kong by registering a company in Hong Kong. With that you will be able to create a corporate account with any of the Hong Kong banks and enjoy the services of some of the best banks in the world.

The state of Hong Kong’s economy is very healthy and Hong Kong banks are some of best banks in the world in terms of liquidity and capitalization. The healthy state of the Hong Kong dollar makes it an even more lucrative option.

It might require a bit of an extra effort but Hong Kong banks are definitely the way to go if you want a super secure offshore bank account.
 

infotrader

New member
Does Hong Kong banks require personal visit for opening offshore accounts? As someone from Asia, I don't think visiting HK is too safe. After some research, I could see tons of offshore agents located in that land. But how safe is Hong Kong for a business visit?
 

negon

hannibal the cannibal
BANNED MEMBER
For HSBC bank (there is at least 1 more) it apply, you need to visit the bank in order to open the account. I read somewhere that all banks in HK require personal visit and only a handful is accepting Skype Interview.
 

redeye

Corporate Services
Mentor Group Gold
After reading the many posts and threads about Hong Kong to be a Trap I think you should reconsider your advise in the initial post.
 

oldbear5566

New member
This situation with requirement of personal visit bothers me a lot. I will join the question above, aren't there any baks at Hong Kong at all that allow to open account without personal visit, just using Skype?
 

TurnedToRobot

Entrepreneur
So far if you do a search using Google on this forum there are a lot of threads describing the situation in HK and banking procedures. There is second to none of them that will open an account.
 

dirtyharry

Mentor Group Gold
Yeah Hong Kong is only valid if you travel there an open bank account and register company in person. I had no luck to find a valid agent that is able to setup a HK company with HK bank account for me.
 

yndzone

New member
hi guys,
i need to open an offshore in HK with bank account, no e-bank, but real bank. i am able to travel in hk to set up anything.
Sameone can help me? it is urgent
Please contact me
Thanks in advance
 

Alex Durham

New member
How is the situation in HK? I’m going there this week to set up a company. Looking for a reasonably priced and trustable lawyer who can guide me with the process.
 

Fly$

New member
How is the situation in HK? I’m going there this week to set up a company. Looking for a reasonably priced and trustable lawyer who can guide me with the process.

Setup the company very easy and no need to go there, even no need an lawyer to do it.

The most important according your business will be to get an bank account.

BTW the local situation there is no stable as you should know (Some MTR/subway line doesn't work today)
 

Fly$

New member
HK bank accounts usually takes 2 months, there is a bank that can open in a week but your bank statement needs to show you have at least 1mil HKD in cash and you need a hk registered company

Is no real. No need 1M in cash to get an bank account there. Also as i know before bring 1M in cash there you should well know the banker if you dont want to get in trouble
 

Fly$

New member
hi guys,
i need to open an offshore in HK with bank account, no e-bank, but real bank. i am able to travel in hk to set up anything.
Sameone can help me? it is urgent
Please contact me
Thanks in advance

Forget about urgent with HK bank this time. Or you need well know relation ship to faster the process
 

Alex Durham

New member
Setup the company very easy and no need to go there, even no need an lawyer to do it.

The most important according your business will be to get an bank account.

BTW the local situation there is no stable as you should know (Some MTR/subway line doesn't work today)

Yep, Indeed. I need corp. account as well that’s why I’m going there in person.
 

majeedabdul

Mentor Group Gold
make sure whoever you choose to open company with guarantee bank account referral , or else you will suffer, since if ever you find a bank referral company they would want to be your corp sec and handle entire process..
 

GiGoGo

I make things happen
Just landed in HK. It’s crazy out there. Stood 7 hours in a traffic :oops:. Which bank would you suggest for quick opening of personal bank account?
Try Bank of China, is the only one that opens bank accounts without HKID
 

Alex Durham

New member
Thank you all for advice. It went smooth with Bank of China. KYC was too much long thou, they asked one month bank statement from my US account. Is it common or since I’m first time client this is why they added this requirement?
 
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