Beginning of cooperation Last contact Last update
August, 2001 October, 2018 July, 2018

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.

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

    Global rating Countrywide rating Countrywide rating of the head bank Global rating of the head bank Credit rating
    41 1 AA-
    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 Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

    Minimum requirements

    Minimum balance, € Transactions permitted per month Initial deposit of funds, € Deadline for the initial deposit, month Minimum turnover, €/year
    1 000 0 0
    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 There are no restrictions as to the annual minimum turnover
    How fast payments are executed Through internet – instantly; by telephone and fax – within 3 banking days

    Tariffs and services

    Outcoming transfer, € Incoming transfer, € Account maintenance, €/year Payment limit for credit cards, €/day Funds to be blocked for CC issue, €
    90 0 180 0 0
    Distant access to the account Telephone, fax, Internet
    Financial products Loans, insurance, stock market, deposits, bonds
    Credit/debit cards Business Card, Corporate Card, Purchasing Card

    Account opening procedure

    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
    Visit to the bank The bank account can be opened either with or without the client’s visit to Hong Kong
    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 the country where the bank is located; 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