EU pass, HK based, IT skills

[Clip]

Dear all,
Just joined today to the forum. Expat living in HK for 3 years, dealing with all the problems like bank accounts and crypto. Also I have an IT background, so anything related with above im Happy to help.

Happy Chinese New Year

 

[negon]

Welcome aboard

 

[7889]

all the problems like bank accounts

Could you elaborate please? Are you introducer?

 

[Clip]

Not an introducer, but if you want to open a bank account in HK, I know some good tips.

 

[fblbatt]

Care to share any?

Not an introducer, but if you want to open a bank account in HK, I know some good tips.

 

[Clip]

For individuals:
- Need to come in person
- Hard to get one, but one that was surprisingly easy was Bank of China (the one with Iconic Building) they dont ask much questions
- You need to say in advance you want to open a 200k HKD account, they will be more happy to welcome you
- Another option is Neat, they give you a virtual bank account, no need to come in person
For companies
- Need to come in person
- Any bank would open a bank account for companies, but you need to probe you have contracts with customers
- Neat business, no need to come in person and they give you a mastercard and your own bank account. The problem is they can only work with HKD
- Currenxie are also good option, no need to come in person, multi currencies account, but no debit/credit cards

 

[fblbatt]

Thanks for that, is Currenxie HK based?

A few points I d like to add though:
- Neat is currently backed up quite a bit. It took them 2 months to deliver the card for my HK resident friend, he ordered it in November, he got it only in January.
- Any bank in HK has to accept the documents for account opening and can't deny account without explanation as per HKMA guidelines, but banks go to great lengths to complicate opening for foreign owned HK companies. One of my clients was told the bank needs 6 months to review his application. The other just got endless requests for supporting documents until he gave up. We have had cases where the bank would "deny" opening an account, we asked them to provide an official denial letter that we will submit to HKMA, that's when the tricks start usually.
- Being from mainland China, having a local/chinese director, having a HK residency or a permanent address increases your chances greatly, as well as having business substance.
- If you are a US citizen or do business with USA it complicates things.
- If you have a complicated business plan - simplify it, it needs to be as simple as A-B-C for the bank manager to understant it.
- Buying a company with already opened account and changing the beneficiary with the bank has a higher success rate then opening from scratch. For a new application the bank needs to do Due Diligence and KYB, for changin the director they already have the KYB from the original application and they just do the Due Diligence on the director.

 

[JohnLocke]

Not an introducer, but if you want to open a bank account in HK, I know some good tips.

So you may better share them otherwise I will consider your posting as hidden advertising and start shaking the warning box!

 

[fblbatt]

He did suggest Currenxie that was not mentioned on this forum. I will actuallly try it out after the chinese new year holidays end, I am currently setting up a HK co for a client and I will submit it to Currenxie while we wait for bank accounts to be opened.

 

[Clip]

I talked with some of the Bizdev of Currenxie in HK. They can open a multicurrencie bank account for any company in the world. The big problem you need to whitelist who can send you money, they need to know whos going to send you the money in advance.

 

[negon]

So it may be a great solution if you exchange crypto You tell them your money comes from say Kraken and they are fine with that?

 

[Clip]

So it may be a great solution if you exchange crypto You tell them your money comes from say Kraken and they are fine with that?

If you use a known exchange, probably thy will deny it as they dont like to deal with crypto. Use some OTC like GenesisBlock, you wont have any problems

 

[JohnLocke]

He did suggest Currenxie that was not mentioned on this forum. I will actuallly try it out after the chinese new year holidays end, I am currently setting up a HK co for a client and I will submit it to Currenxie while we wait for bank accounts to be opened.

Not with the answer he gave! and since I seem to know more than most people here on the forum about the forum users around, then it's me that moderate the forum. But thank's for the help.

 

[TravelRose]

Hello everyone. Forgive me, I did not introduce myself sooner. apparently my script had a problem, because I could not get to this page "introduce yourself". Glad to be here, I hope to learn a lot from you all.

 

[TurnedToRobot]

Hello everyone. Forgive me, I did not introduce myself sooner. apparently my script had a problem, because I could not get to this page "introduce yourself". Glad to be here, I hope to learn a lot from you all.

Your script?

Welcome aboard

 

[JohnLocke]

Hello everyone. Forgive me, I did not introduce myself sooner. apparently my script had a problem, because I could not get to this page "introduce yourself". Glad to be here, I hope to learn a lot from you all.

Welcome aboard, what script are you using ???