Since most Hongkong banks deal with the KYC process and AMLA regulations, it's given that it is a time-consuming and lengthy process. Corporate bank account opening for foreign business owners/directors, such as Americans, may be difficult. Additional documents will be required for verification and identification.
If your company requires a corporate account in Hong Kong, we recommend the following two options:
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Look for foreign banks like Citibank, JP Morgan, and Barclays that can help you open a bank account as a non-resident. These financial institutions are striving hard to give new options for businesses to expand.
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Hire a team of a service provider to help you with your application. This can save your effort and time as they provide a pre-assessment test to see if your company profile matches the preferences of their linked bank and other compliance processing, as well as suggestions on how to improve the entire application. Hiring a corporate service provider gives you more bank options, such as HSBC, DBS, OCBC Wing Hang, Bank of China, and others, and makes the entire process much easier than doing it yourself. Their good work relationship and experience with required documents and processes will increase your chances of successfully having a business bank account.
If you require assistance in establishing your business in Hong Kong, AsiaBC is one of the best solutions available. To learn more about the services we provide, please visit our website:
https://asiabc.co/services/company-registration/hk-with-fintech-account/
