So after about 3 weeks of to-and-from this is an update for interested parties.
Background (I am an EU citizen resident in EU seeking to open HK corporate account for my business. I have an HSBC account both in EU and HK for personal banking but not corporate).
(1) Most OSPs say that it's impossible to open an account without visiting HK itself
(2) Some OSPs say they have good relationships with HSBC in HK so can facilitate the opening of the account without a visit. They charge extra for this service (around US$600+)
(3) Some China OSPs claim they can open the account from China mainland, although this isn't particularly helpful for me considering there being no difference in circumstances
(4) A small number say they can facilitate opening via a video interview although were a little vague as to the process
(5) I had a couple of offers from OSPs who said they would open the account in their name and transfer to me via some convoluted change of business ownership. It sounded sketchy so I gave it a miss.
In view of recent comments on this forum here is some feedback on ideas posted
* It appears having an HSBC in your local city is of little relevance for opening a HK account. Sure, it helps for opening a personal account (I did this from the EU) but it doesn't seem possible for corporate
* Your citizenship has a bearing on your success. Most OSPs asked which country I was from. EU and US needless to say are most welcomed but it appears some at-risk countries will cost you more or be impossible.
So, there we are. It's Chinese New Year anyway so no progress for this week.
After CNY, I'm going to explore the option (2), i.e. leveraging the OSPs relationship with bank. It may cost more but it's a lot cheaper than a return to HK.
Background (I am an EU citizen resident in EU seeking to open HK corporate account for my business. I have an HSBC account both in EU and HK for personal banking but not corporate).
(1) Most OSPs say that it's impossible to open an account without visiting HK itself
(2) Some OSPs say they have good relationships with HSBC in HK so can facilitate the opening of the account without a visit. They charge extra for this service (around US$600+)
(3) Some China OSPs claim they can open the account from China mainland, although this isn't particularly helpful for me considering there being no difference in circumstances
(4) A small number say they can facilitate opening via a video interview although were a little vague as to the process
(5) I had a couple of offers from OSPs who said they would open the account in their name and transfer to me via some convoluted change of business ownership. It sounded sketchy so I gave it a miss.
In view of recent comments on this forum here is some feedback on ideas posted
* It appears having an HSBC in your local city is of little relevance for opening a HK account. Sure, it helps for opening a personal account (I did this from the EU) but it doesn't seem possible for corporate
* Your citizenship has a bearing on your success. Most OSPs asked which country I was from. EU and US needless to say are most welcomed but it appears some at-risk countries will cost you more or be impossible.
So, there we are. It's Chinese New Year anyway so no progress for this week.
After CNY, I'm going to explore the option (2), i.e. leveraging the OSPs relationship with bank. It may cost more but it's a lot cheaper than a return to HK.
