Hong Kong Bank Account

Hong Kong is known for its rich and exotic Chinese culture, countless majestic tourist spots such as Hong Kong Disneyland, Tian Tan Buddha, and a whole lot more. Another factor that gives Hong Kong the flare for having numerous visitors coming back and forth in the country is its thriving economy, due to the abundance of businesses growing in the country.

One can surely agree that Hong Kong's successful economic status is due to its currency's flowing cycle. If you're one of those individuals who have plans on residing in the said country sometime in the future, one way to quickly adapt to the new lifestyle would be to apply for a Hong Kong bank account.

Wealth is one of the most valuable possessions an individual should always pay attention to, especially when it comes to adapting to the hustle and bustle of a business-minded country such as Hong Kong. An average person can spend almost a couple of dollars in a day, which one way or another leads to having a visit at the local bank to withdraw and deposit cash.

How about for those who have yet to apply for a bank account? What are the possible benefits and requirements acquired for having a Hong Kong bank account? Below are some essential pieces of information that can help with knowing how convenient it is to open up a bank account in Hong Kong.

What are the required documents when applying for a Hong Kong bank account?
Like any ordinary banking service, clients should gather the listed documents required for opening up an account. Opening a personal bank account is simple, especially when clients possess an American, Australian, and European passport; this grants a faster transaction to unlocking the bank account immediately.

The following documents required are the following:

• Valid Hong Kong ID or passport
• Proof of address details that states Hong Kong residency or from the resident country
• Valid VISA (In case of extension of stay)

However, when it comes to active and employed locals in Hong Kong, it is required for them to take their employment contracts with them when visiting the bank. Also, take note to bring extra cash of around 1000 dollars for the minimum initial deposit.

What are the possible fees when applying for a Hong Kong bank account?
Extra fees are unavoidable, and it's always best for one to be prepared for what comes next after opening up a Hong Kong bank account. The said country's changing economic structure can either give individuals a headache or a sigh of relief, depending on their awareness of these matters.

• Cash machine fees
• International money transferring
• Bank maintenance fees

These are just some of the few fees that individuals may encounter after opening a Hong Kong bank account, and it's always better to have a heads-up on future charges when it comes to applying for a bank account. Most of these services are available in various public areas, such as airports, railways, supermarkets, etc., and are accessible to everyone.

 

[lory]

We only need some trustworthy bank account options for HK.. NEAT looks to be one of the only available options.

 

[Silvio]

If you can show connections to HK (via suppliers, customers, etc), some HK banks will open you an account

 

[JackAlabama]

If you can show connections to HK (via suppliers, customers, etc), some HK banks will open you an account

also a higher initial deposit can help the case. let it simmer for some months/years, and then move forward.

 

[Cryptobabaji]

how about banks for a crypto business? or any business infact? what is is the procedure

 

[Clip]

HK Banks don't like Crypto, you need to have a legit business behind and then do OTC transactions between companies, then it can work. But you mention Crypto in the bank interview and you are done.

 

[MiddleEuroAsia]

HK Banks don't like Crypto, you need to have a legit business behind and then do OTC transactions between companies, then it can work. But you mention Crypto in the bank interview and you are done.

can you shine some light on how someone would be able to do that? Thanks in advance

 

[Clip]

can you shine some light on how someone would be able to do that? Thanks in advance

Buy an existing company with some annual reports, pay some taxes, have some real activity and hire some people. Make the bank happy with some fees, and they will let you work.

What they are not going to like is that you only do OTC Trades without providing invoices, banks don't want to take the risk for the small fees that are going to get from you.

 

[sonato]

I always thought China liked crypto, they have billions in crypto

 

[Clip]

I always thought China liked crypto, they have billions in crypto

They love it, just that banks don't like to deal with potential ML issues

 

[MiddleEuroAsia]

Buy an existing company with some annual reports, pay some taxes, have some real activity and hire some people. Make the bank happy with some fees, and they will let you work.

What they are not going to like is that you only do OTC Trades without providing invoices, banks don't want to take the risk for the small fees that are going to get from you.

@GiGoGo i already have a Hong Kong company and I have suppliers from mainland china, Have an auditor, and office and all of that. So A real substance!

My question was can I do OTC trades between my company and an OTC exchange like genesis block without the bank disliking these trades and come after of my A$$. my company has nothing to do with crypto, so If I make an OTC trade won't this create some headaches with HK banks?