Traditional banking for hong kong companies

[idrbns]

Hello,

UBO resides in EU with a digital marketing company incorporated in HK, looking to open a physical bank (not EMI) for the company (not necessarily in HK) without travelling to the bank.

thank you

 

[daniels27]

Hi, where is the management? If you have a Hong Kong manager, he can easily open a bank account in Hong Kong.

 

[idrbns]

the directors are nominals from corporate services agents, so not ideal for them to approach the bank

 

[daniels27]

You mean, the company only has nominee directors? If you are not a director, how do you want to open a bank account?

 

[CyprusLawyer101]

A bank account for a hong kong comoany with a Cyprus brick and mortar bank is possible. Let me know if you would like that i review this matter.

 

[Houdini]

Can you explain what bank you can do this with or what requirements to get this work ?

 

[Clank]

A bank account for a hong kong comoany with a Cyprus brick and mortar bank is possible. Let me know if you would like that i review this matter.

What about Singapore companies?

 

[CyprusLawyer101]

Can you explain what bank you can do this with or what requirements to get this work ?

its Astrobank I spoke to recently, but other top 5 banks are ready to discuss such on-boarding. There are no fixed requirements, you just need to get it approved by them based on their internal policies and requirements. They are checking normal stuff, UBO origin, type of operation, countries involved, money laundering risk, hassle-reward balance etc. We work closely with this bank as well , so if you have anything in front of you we can examine it.

 

[CyprusLawyer101]

What about Singapore companies?

I did contact them specifically for this but they said they do not on-board SIngapore companies. I did not find it useful to request for an explanation, but do note that if you have a worthwhile company, of good repute, enough turnover and a good chunk of transactions - as long as it makes sense we can open an account with any of the brick and mortar banks in Cyprus.

 

[daniels27]

Do you know their fees? Because I am traditionally looking for accounts that are free as for other cases, I resort to EMIs which are more free

 

[Fred]

Your Corporate Service Provider should be especially with Hong Kong Resident Directors be able to open with High Street Banks in Hong Kong when even we are able to open for Panama Offshore Companies with Panama Resident Nominee Directors.