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:
- 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, it is possible to use the Internet bank in Russian and Kazakh languages;
- 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.
Bearing in mind that the bank opens accounts for local companies only and that until recently it only did so after a client’s visit, which is not always possible, our experience with this bank is smaller than with many others. The bank’s requirements for the documents and types of business are fairly standard and do not create any problems, though they can rather be called ‘strict’ than liberal.
The bank meets the declared time limits for assessment of account applications, which is, of course, a positive note.
The internet banking is friendly and causes no difficulties. Generally, in whatever concerns everyday standard operations, the bank gets an ‘A’ mark. However, some issues may arise when an unordinary case needs to be dealt with, the main difficulty being to find an officer who would be willing to investigate the problem and have enough authority. The lack of Russian-speaking staff might also be a little inconvenient
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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
41
1
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AA-
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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 $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
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
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—
1 000
No restrictions
1 000 000
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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
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Outcoming transfer, €
Incoming transfer, €
Account maintenance, €/year
Payment limit for credit cards, €/day
Funds to be blocked for CC issue, €
10
0
180
N/A
N/A
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Outcoming transfer, €
Transfer fee (depending on the tariff plan): from 0 to 75 HKD
Incoming transfer, €
The Bank does not charge a fee for crediting
Account maintenance, €/year
Monthly account maintenance fee (depending on the tariff plan): from 0 to 150 HKD
Distant access to the account
Phone, fax, Internet. Internet-banking fee is 200 HKD. HSBC.net advanced provides for the use of a standard internet bank in Russian and Kazakh. Service cost - 1,000 HKD per month (130 USD). 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 in Russian (or Kazakh)
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 - 300 HKD
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
Exhaustive
Current
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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
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
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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