GSL / Offshore and International Law / Offshore Banking / Bank of China Hong Kong Limited

How to open a bank account in Bank of China Hong Kong Limited

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February, 2015 December, 2021 August, 2021

GSL reference about the bank

Being professional intermediaries, we are limited in giving public opinion about some financial institutions. Please contact us directly to obtain more detailed feedback.

Primary requirements:
- to open an account, you must visit Hong Kong (at least one director of the company);
- before visiting the bank, 2-3 weeks before the trip, you must schedule an interview at the bank;
- the bank offers the opening of current accounts for individuals and legal entities;
- annual turnover - from 1,000,000 USD;
- the term for opening an account - case by case (check with the consultant);
- quite convenient Internet banking

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    Bank's characteristics

    General information and rating

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    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    Not rated Not rated A
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    Year of foundation 1937
    History Bank of China Ltd (BOC) is the oldest Chinese bank. It was founded in 1912. From 1912 to 1942, the bank, on behalf of the government, issued banknotes together with the major banks of that time: Central Bank of China, Farmers Bank of China and Bank of Communications. Subsequently, the Central Bank of China and the People's Bank of China were successively transferred to the functions of the central bank of China. In 1949, the bank began to specialize in internationally serving the interests of the Chinese government. In 1994 it was transformed into a state commercial bank. The bank provides a full range of banking services in China, Hong Kong, Macau, Taiwan and 37 other countries. One of the twenty largest banks in the world
    Personnel The staff speaks English
    Bank’s shareholders Among the major shareholders of Bank of China are the state investment fund Temasek from Singapore, Asian Development Bank, Swiss UBS and British Royal Bank of Scotland
    Confidentiality Double Taxation Agreement with Russia is signed; AML legislation is strictly observed

    Minimum requirements

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    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    0 6 1 000 000
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    Initial deposit of funds, € No down payment requirements
    Minimum turnover, €/year Minimum turnover - from 1,000,000 USD per year

    Tariffs and services

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    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    N/A N/A N/A N/A N/A
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    Distant access to the account Internet Banking
    Financial products The main activity of the Bank is commercial banking services, including corporate banking, personal banking

    Account opening procedure

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    Days to open for incoming transfers Days to open for outcoming transfers References Business description Purpose of the account
    case by case case by case Not necessary Detailed Current
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    Visit to the bank A visit to the bank is required (at least for one director)
    Required Standard set of corporate documents of the company. A set of copies of documents of a foreign shareholder. Copies of Russian and foreign passports of the director and beneficiary.
    Types of accounts Personal; Corporate; Current
    Opening procedure and Due Diligence it is possible to open an account without visiting a professional introducer
    Chances to open an account Predictable
    Business description Requirements for the description of activities are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the beneficiary of the account and contact information
     
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