We integrate bank introduction services in our packages, for clients with existing companies we render these services for additional charges. We are working with various banks in Hong Kong and several others offshore.
Banks in Hong Kong have implemented very strict KYC / compliance process and the rather inquisitive approach see few clients being denied of bank account opening.
Valsen will assist you to open your company bank account in Hong Kong, usually you bank accounts will have the below advantages:
- Multi-currencies, you can receive / transfer and keep the following currencies: Euros, USD, Swiss Francs, RMB etc.. the top ten major currencies are available
- Very secure internet banking, easy to use with an electronic key, real time transfers
- Phone banking with pin, English speaking team
- Business debit card / ATM
- Visa credit card on inquiry
- HKD cheques book
To open your bank account you are obliged to come to Hong Kong and meet with a bank representative, all parties saying differently are wrong, Valsen will not mislead you, so to be safe you have to open your company before traveling to Hong Kong.
Depending on the selected bank you will have to meet with them at our office or at one of their Small and Medium Enterprises centers.
The below conditions have to be meet:
- All the directors and shareholders having more than 10% of the shares have to be at the meeting, this include the individual nominee director
- A deposit of minimum 10 to 25’000 HKD otherwise the bank will charge a fall below monthly charge of few dollars
Valsen list of documents (below described) should be completed, you need to bring the originals with you at the meeting
Valsen we will prepare everything with you and for you:
- Passport copy
- Address proof, such as electricity or phone bill under your name dated of less than 3 months
- Certificate of incorporation of your company
- Business registration of your company
- Organizational chart of your company, explaining who are the shareholders, beneficiaries owners
- Company board resolution for the bank opening
- Certificate of incumbency
- Director/beneficial owner declaration
- Certification letter from Valsen company services limited
- Incorporation forms
- Annual return
- Notification of change of secretary and director
- Business registration number from business registration office
- Form 1 new version
- Valsen compliance form as below (rewritten by us as a business plan)
Valsen compliance form
Your bank and Valsen should know you and your business, to advice you, to protect you and to respect the KYC rules (know your customer).
We will fill a form together before attending to your bank opening appointment, providing the following information: (again we will prepare everything for you)
- Your contact details (private address, phone, email) and registered address + contact
- Your past professional experience in few words
- Brief description of your current activity outside of Hong Kong, information about your current company such as website, number of employees etc…
- A description of the activities of your newly form company
- Information about the countries where are located your future customers and suppliers
- Expected turnover, money in/out for the years to come, first deposit etc…
- Person to contact in case of emergency