How to open a bank account in HSBC Bank (HK) PLC

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

August, 2001

Last contact

November, 2024

Last update

June, 2024

opens current accounts;
opens accounts for foreign trading companies;
the requirements of the bank to the documents provided, the types of activities of the company are quite standard and do not cause additional difficulties, although they are more likely to be “strict” than liberal;
the term for opening an account – case by case (check with the consultant);
Internet banking is friendly and does not cause any difficulties at all;
in general, everything related to day-to-day standard operations is excellent in the bank. But when solving non-standard issues, certain difficulties may arise associated with the need to find an employee who has a desire to delve into the problem and sufficient authority

GSL rating

Beginning of cooperation

August, 2001

Last contact

November, 2024

Last update

June, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

41

Global rating

1

Countrywide rating

—

Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1865

History

The HSBC (The Hong Kong and Shanghai Banking Corporation) Group was established in 1865 and is headquartered in London. The HSBC Group services more than 128 million clients with 10 000 offices located in 83 countries in Europe, Pacific Region, North and South America, in the Middle East and Africa. With USD 2,354 billion of assets as at 31 December 2007, the HSBC Group is one of the world’s largest organizations providing banking and financial services. HSBC is marketed worldwide as 'the world's local bank’

Personnel

The staff speaks English and Chinese

Bank’s shareholders

HSBC Asia Holdings BV (Amsterdam Netherlands) - 100%

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 balance, €

—

Transactions permitted per month

1 000

Initial deposit of funds, €

No restrictions

Deadline for the initial deposit, month

Initial deposit of funds, €

The initial deposit is EUR 1 000

Deadline for the initial deposit, month

There is no deadline for making the initial deposit

Minimum turnover, €/year

The Bank prefers turnovers from USD 1 000 000 per year

How fast payments are executed

Through internet – instantly; by telephone and fax – within 3 banking days

Tariffs and services

10

Outcoming transfer, €

0

Incoming transfer, €

180

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Transfer fee (depending on the tariff plan): from HKD 0 to HKD 75

Incoming transfer, €

The Bank does not charge a fee for crediting

Account maintenance, €/year

Monthly account maintenance fee (depending on the tariff plan): from HKD 0 to HKD 150

Distant access to the account

Phone, fax, Internet. Internet-banking fee is HKD 200. HSBC.net advanced provides for the use of a standard internet bank. Service cost - HKD 1 000 per month (USD 130). During the interview for opening an account, a manager comes with a special laptop, registers the client, and in case of opening an account, the client gets the opportunity to use the Internet bank

Financial products

The bank provides a wide range of banking and financial services, including loans, insurance, stock market, deposits, bonds

Credit/debit cards

Business Card, Corporate Card, Purchasing Card

Hold mail

Provision of bank recommendations - HKD 300

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

Visiting the Bank is required

Required

1. Original or certified copy of Business Registration Certificate;

2. Original or certified copy of Certificate of Incorporation;

3. Original or certified copies of Forms D1, D2A, D2B, AR1 (annual return), and SC1 (return of allotted shares);

4. Original or certified copy of Memorandum & Articles of Association;

5. Organizational chart is required if one of the major shareholders holding at least 10% of the voting shares is a legal entity. The chart must show the legal connection between the ultimate beneficial owner (an individual) and shareholders (legal entities);

6. Identification document and proof of address for at least two 2 directors (or 1 director if the company has a sole director), shareholders (holding at least 10% of the voting shares), bank signatories, and beneficial owners;

7. Business description (business plan)

Types of accounts

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

The business description (business plan) needs to contain:

• business carried on by the company;

• why a Hong Kong account is required;

• how the company is managed and financed;

• country where the main business of the company is carried on;

• estimated monthly volume of bank transactions, incoming and outgoing payments

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