Opening A Hong Kong Bank Account In Three Simple Steps

Many people looking forward to opening offshore bank accounts are interested in picking countries with better tax regimes, stable political systems, and higher interest rates.

Because of its independence from the Mainland China, Hong Kong has stood taller than its peers in the Far East and all over the world. Once you have selected the preferred bank, here are three steps you can use to open a bank account

Step One: Find out what the bank requires 

Many banks in Hong Kong have varying requirements for people targeting to open bank accounts. To get the bank account with the first attempt, it is important to carry some prior research.

Visit the bank’s website to see what the requirements are. You might also need to call the bank for clarification on what is needed.

Step Two: Gather the right documentation and book an appointment 

Now that you know what the preferred bank wants, gather all the documents and make sure they are in order. You might also want to add more details about yourself to proof the need and confirm the sources of cash are not fraudulent.

For example, though the main source of revenue is salary, indicate that you also have a home and other plans to generate additional cash. This will make the bank to understand you better and open the account with first attempt.

Before setting off for Hong Kong, it is important to make an appointment. This will help you to plan for the time in Hong Kong, appear professional, and raise the chances of getting an account. Ensure the time is slated for morning hours when you are fresh to make a personal presentation.

Step Three: Visit the bank in person to present the documents and support the need for an account 

When it comes to bank accounts, you have to visit the bank in person. This means flying to Hong Kong and presenting the documents to the selected bank.

This will be just like the normal account opening back at home though in a foreign jurisdiction. If additional information is needed, you can agree to mail them without having to fly back.