Opening an international bank account in Hong Kong for non-resident

Updated time: 19 May, 2020, 12:43 (UTC+08:00)

Hong Kong is one of the best places in the world to trade and do business activities. The bank account plays a vital role in businesses and fits the financial goals of the business owners. Therefore, to make the business transaction easier and more convenient, opening Hong Kong international bank accounts should be considered.

An international or offshore bank account is one of the good choices for opening in a jurisdiction different from where a company is incorporated. With the international bank account in Hong Kong, there are many benefits and advantages to the business. Some advantages of opening a Hong Kong bank account are:

No tax on interest: This is a huge benefits of a business bank account. The holder will not be charged tax on their earnings.
Free capital transfer: Hong Kong has various industry sectors. As a result, there is no foreign exchange control on the trade. The international capital transfer is done easily without any problems
Reputation bank in Hong Kong: Many famous and safe International banks in Hong Kong like HSBC, the Bank of China, Citibank, Standard Chartered Bank that are trusted by foreign investors and business people.

Offshore bank accounts allow business owners to operate through multiple currencies without depleting funds through currency transaction fees. Moreover, it creates more opportunities for investment by minimizing the cost of currency exchanges. All international banks offer online banking options that allow foreign account holders to easily access their funds anywhere in the world. They can manage their business transaction status outside Hong Kong. The offshore Hong Kong bank accounts are always safe and easily transfer money for foreigners.

The investors and foreigners must travel to Hong Kong for opening business bank accounts, it is recommended that they hire an agency so that the agency can help the account applicant with their businesses in arranging and preparing all documents. One IBC^® will gather all necessary papers for the clients before the customers visit Hong Kong. With our support, the customer’s time will be more flexible and the preparation for the interview will be the best. In addition, it can avoid the unexpected situation that you have missed details or documents when visiting the bank.

The next tip is the most important, the investors and foreigners should understand that different banks in Hong Kong have their own processes and conditions for opening a business bank account in Hong Kong. For the offshore companies, the banks require the applicants to submit a Certificate of Good Standing and a Certificate of Incumbency in addition to the normal documents in opening the bank account in Hong Kong. Moreover, the two main languages in Hong Kong are Chinese and English, so all documents will be translated into English for foreigners.

All in all, with the information above, you can open a Hong Kong bank account easily and quickly. Even if you are either entrepreneurs, business partners, or professional business people, you all can open international bank account in Hong Kong.

If you are looking for a trusted supporter to help you with opening a company and bank account in Hong Kong, One IBC^® can advise you. With over 10 years of experience in supporting the customers in setting up the company in foreign countries, we believe that to give you the best solution and services to your business. In addition, our clients are well taken care of. All questions you can chat with us at the website: oneibc.com or free call to +852 5804 3919 for more information.