GSL / All offers / Оpening accounts with banks of Malaysia: United Overseas Bank (Malaysia) BHD (UOB Malaysia) and The Hong Kong and Shanghai Banking Corporation Malaysia (HSBC Malaysia).

Оpening accounts with banks of Malaysia: United Overseas Bank (Malaysia) BHD (UOB Malaysia) and The Hong Kong and Shanghai Banking Corporation Malaysia (HSBC Malaysia). Service offer

Malaysia’s banking system is known for its stability, modern online services, and the ability to open multi-currency accounts. We offer services for opening bank accounts in Malaysian banks, including obtaining pre-approval, client support, and full coordination with the bank at all stages.

General information about the banks

  • United Overseas Bank (Malaysia) BHD / UOB Malaysia is a subsidiary bank of a large Singaporean financial group that has over 500 branches in 19 countries of Asia, Europe and North America, first of all in Singapore, Indonesia, Malaysia, and Thailand;
  • The Hong Kong and Shanghai Banking Corporation Malaysia / HSBC Malaysia is a subsidiary of one of the largest financial groups of the whole Asia-Pacific region;
  • It is possible to obtain pre-approval;
  • Personal visit of the account signatory to the bank is required to open an account;
  • Low transfer and account maintenance fees;
  • It is possible to open multicurrency accounts;
  • The banks issue debit cards;
  • Account is managed through online banking (in English);
  • Opening an account takes at least 1 month (on average 1.5 to 2 months) after the bank has received the complete set of documents.

Opening an account: features, steps, documents

Step 1 – pre-approval

At this step, the bank is provided with a set of documents in electronic form and supporting information on the company’s activity, economic indicators, proposed counterparties and cash flows.

Corporate documents (standard list)*:

  1. Certificate of Incorporation;
  2. Memorandum & Articles of Association;
  3. Documents proving the company’s structure (Certificate of Incumbency, extract from the public register, etc.) – not older than 1 year;
  4. Power of attorney (if the account signatory is not a director);
  5. Declaration of trust (if the company’s beneficiary is not a shareholder).

* The list of documents is not exhaustive. The bank is not our related organization and has the right to request any other documents and information. The list of documents may differ from the list above depending on the company’s jurisdiction. For more information, please contact a specialist of GSL Law & Consulting.

If there are other legal entities in the structure, the same list of documents is requested from them.

Business profile of the company:

  1. KYC questionnaire, which includes detailed description of the company’s activity and economic indicators, information about proposed currencies and incoming / outgoing payments;
  2. Bank statements for the last 6 months (if the company has conducted business);
  3. Contracts, invoices and transport documents on previous transactions of the company (if the company has conducted business).

Documents for individuals in the structure of the company:

  1. Passport copy;
  2. Copy of a document proving the residential address (bank statement or utility bill not older than 3 months);
  3. CV of director and shareholder;
  4. Bank statements for director’s personal account.

Based on the provided information and scan copies of documents, we prepare and send an application for the bank’s pre-approval to open an account.

On average, obtaining pre-approval takes 2 – 4 weeks (depending on the complexity of the case); during this period of time, the bank may send additional requests for information / documents.

Step 2 – preparation of a set of documents for account signatory’s visit to the bank (certification of documents)

Based on the information obtained at the pre-approval stage, we make a list of documents that must be certified to open an account.

The constitutional documents must be translated into English and apostilled.

Step 3 – opening an account

After the account signatory has visited the bank, provided all required documents and signed bank forms, the application is passed to the final review stage. Opening an account takes around 2 – 3 weeks after the bank has received all documents.

Service fees*

Service
Fee
Step 1 – services for:
== collection and analysis of corporate and other documents required to be provided to the bank;
== drafting a detailed application for pre-approval, including complete information on the company, its activity, owners and counterparties;
== sending this application to the bank for approval;
== working on additional matters;
== preparation of a roadmap and detailed description of all subsequent steps of the account opening procedure.
EUR 1 000
Step 2 – services that include:
== consultations on preparation of the set of certified documents**;
== escort during attorney’s (account signatory’s) visit to the bank;
== interaction with the bank at all steps of the account opening procedure.
EUR 4 000
Step 3 – services that include:
== complete account activation;
== issuance of account details and access keys.
EUR 500
Success fee
The additional success fee is charged if the account has been opened faster than the average standard time required for the procedure, which is 1.5 – 2 months.
+ 10%
of the service fee
Assistance in opening accounts for companies that are not served by us
You can also contact our consultants to discuss the possibility of transitioning companies to us as a corporate service provider and accordingly decreasing the service fee.
+ 20%
of the standard service fee
Assistance in opening an account in a complex case:
1. In terms of activity:
- licensed activity (investment fund, cryptocurrency, fintech, production of tobacco goods / alcohol / pharmaceutical products, precious metals, etc.);
- trade complicated by the type of goods (raw material / dual-use goods / medical goods);
- payment agent activity;
- counterparties partially owned by the state;
- high-risk regions from the FATF list.

2. In terms of structure:
- number of shareholders – more than 3 individuals or more than 2 legal entities in the company’s structure;
- non-transparent ownership structure that includes: public companies / trusts / funds.

+ USD 450
to the basic service fee
Subsequent assistance with the account:
- assistance in installing and configuring online banking;
- interaction with the bank’s representatives on current issues;
- organization of a payment policy.
First 3 months – USD 650.
Then – agreed monthly payment depending on the required scope of work, complexity of the case, etc.

*The service fees are effective as of July 2025.

*To order apostilled documents issued by state authorities, please contact specialists of GSL Law & Consulting.

Are you interested in the offer?
EUR 5 500
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