GSL / Offshore and International Law / Offshore Banking / Standard Chartered Bank (HK) LTD

How to open a bank account in Standard Chartered Bank (HK) LTD

GSL reference about the bank What is it?

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

GSL rating

Beginning of cooperation

January, 2008

Last contact

December, 2022

Last update

October, 2022

It will not be an exaggeration to say that Standard Chartered is one of the leading banks in such regions as Africa, Asia, and the Middle East.

Throughout its more than 150-year history the bank has not only created a very impressive client base, but also has become one of the three Hong Kong note-issuing banks.

The bank’s specialty is trading accounts and it offers to its clients the state-of-the-art internet banking and relatively low bank fees. What is also important is that the bank opens yuan accounts and processes yuan payments.

However, since 2011 the bank has almost stopped opening accounts remotely, so a client would now need to personally meet the bank’s representative in one of Hong Kong’s branches. Neither does the bank now open accounts to companies with a nominee shareholder

GSL rating
Beginning of cooperation
January, 2008
Last contact
December, 2022
Last update
October, 2022
Your Consultant
Поиск консультанта...

Поиск консультанта...

General information and rating

188
Global rating
4
Countrywide rating
Countrywide rating of the head bank
9
Global rating of the head bank
Year of foundation
1859
History
The history of Standard Chartered in Hong Kong dates back to 1859. In 1969 the Standard Chartered Group acquired its present-day form following the merger of The Standard Bank of British South Africa, established in 1863, and of The Chartered Bank of India, Australia and China, established in 1853. The Standard Chartered Bank is now one of the three note-issuing banks in Hong Kong. The bank’s shares are listed on the London and Hong Kong Stock Exchanges. The SCB has over 30 000 staff and more than 500 offices in 50 countries worldwide. On 1 July 2004, the bank merged its Hong Kong branches, namely: Standard Chartered Bank, Manhattan Card Company Limited, Standard Chartered Finance Limited, Standard Chartered International Trade Products Limited and Chartered Capital Corporation Limited. The bank is a Hong Kong licensed credit instruction and operates under the name of Standard Chartered Bank (HK) Limited
Personnel
The staff speaks English and Chinese
Bank’s shareholders
Standard Chartered PLC (London UK) - 100%
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
Compare banks

    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    1 000
    Initial deposit of funds, €
    2
    Deadline for the initial deposit, month
    Minimum balance, €
    The bank has no requirements for the minimum balance
    Transactions permitted per month
    The bank has no restrictions as to the number of transactions
    Initial deposit of funds, €
    In order to activate the account, it is necessary to transfer the amount equivalent to EUR 1000
    Deadline for the initial deposit, month
    The initial deposit needs to be made within 1-2 months of the account opening
    Minimum turnover, €/year
    The bank has no requirements for the minimum turnover
    How fast payments are executed
    Through Straight2Bank – instantly; by internet, telephone and fax – 3 days

    Tariffs and services

    20
    Outcoming transfer, €
    5
    Incoming transfer, €
    360
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer to another Standard Chartered account – free of charge. Transfer to another Hong Kong bank – EUR 1. Other transfers through Straight2Bank – EUR 20
    Incoming transfer, €
    Depending on the category of the client: Priority Banking Customers – free of charge; Exelbanking Customers – EUR 3.6; International Trade Account Customers – EUR 4.76
    Account maintenance, €/year
    Account maintenance fee (International Trade Account) – EUR 30 per month. One-off fee for the issue of Vasco Token (required for the operation of Straight2Bank) – EUR 100
    Payment limit for credit cards, €/day
    The payment limit depends on the amount of insurance coverage and card class. The bank issues cards only for a Hong Kong company account
    Funds to be blocked for CC issue, €
    The insurance coverage must reach 100% of the card spending limit
    Distant access to the account
    Straight2Bank system (bank-client software); telebank
    Financial products
    Letters of credit, stock market, deposits
    Credit/debit cards
    Business Card Visa

    Account opening procedure

    Days to open for incoming transfers
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    A visit to the bank is required in the majority of cases
    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. Certificate of Good Standing – if the company is older than 1 year; 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. Bank reference letter for the beneficial owner of the company; 8. 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); 9. Company’s seal
    Types of accounts
    Savings; 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
    Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed

    Banks of Hong-Kong

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
    Need a consultation from a specialist?
    Share on social media:

    Add a comment

    By clicking the «Send» button, you agree to the processing of personal data in accordance with the terms of our privacy policy

    RU EN