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

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

February, 2015

Last contact

October, 2024

Last update

June, 2024
  • 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 USD 1 000 000;
  • the term for opening an account – case by case (check with the consultant);
  • quite convenient Internet banking
GSL rating
rating
Beginning of cooperation
February, 2015
Last contact
October, 2024
Last update
June, 2024
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General information and rating
General information and rating

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
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
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Initial deposit of funds, €
    No down payment requirements
    Minimum turnover, €/year
    Minimum turnover - from USD 1 000 000 per year
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    N/A
    Outcoming transfer, €
    N/A
    Incoming transfer, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    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
    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Current
    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 shareholder
    Types of accounts
    Current
    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

    Banks of Hong-Kong

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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