Looking for a way to open a bank account in Hong Kong without dealing with the bureaucracy? Then this blog post will give you the answer you were searching.
Hong Kong has been a global financial hub for a long time offering reliable offshore jurisdiction.
Hong Kong is attractive to businesses from other countries because of a number of tax exemptions and tax treaties.
Moreover, there is a minimum capital requirement for bank accounts and only a few requirements in legal terms. This all makes Hong Kong the most popular destinations for offshore banking.
Opening A Business Bank Account In Hong Kong
The procedure of opening a personal bank account in Hong Kong is quite straightforward. Probably, it’s even simpler than in the USA, the UK or Europe.
However, if you’re planning to open a business bank account, this will require more effort.
The main reason why opening a bank account for your business in Hong Kong may be challenging is that it requires your personal presence. Now, how many business owners can easily jump on a plane and fly to Hong Kong just for a bank appointment? Obviously, not a lot.
Moreover, some time before there were other requirements that had to be met to get an account opened.
One of those requirements was proper personal identification which might include a passport or Hong Kong ID.
People with Australian, USA or European passports had some privilege and could get their accounts set up on the spot. In other cases, it took a few weeks.
New Way Of Creating A Bank Account
Things changed for better with the time. At the moment business owners have a possibility to open a bank account in Hong Kong online without any trips there.
This became game-changing for a lot of businesses. And if you consider opening a business account in Hong Kong but want to avoid unnecessary business trips and expenses this solution is for you!
Neat banking introduces the new way entrepreneurs can do business around the world and in Hong Kong namely.
With the help of Neat, you can easily create a business bank account in Hong Kong, get a prepaid MasterCard, and conduct financial transactions around the world. All of this can be done online!
You can open your business bank account in Hong Kong online, whenever and wherever works for you. No trips to the branch and personal meetings required!
Benefits Of Opening Your Bank Account In Hong Kong With Neat
1.First off, as mentioned above, everything can be done online. And that’s a huge benefit!
Even after you’ve opened an account, you can manage everything online.
2. Neat provides you with dedicated Hong Kong payment instructions in HKD and USD, as well as local EUR and GBP payment instructions. This means you can start receiving bank wires from customers around the world without hidden fees and make transfers to bank accounts locally and internationally.
3. Money transfers from your bank account in Hong Kong opened with Neat to bank accounts in the EU take maximum a few days.
4. You’ll get Neat corporate Mastercards and therefore, best exchange rates. This will let you enable your team members to handle online and offline corporate expenses or cash withdrawals from ATMs around the world with cards for the whole team.
5. Using Neat you can easily connect the payment gateway of your choice like Stripe, PayPal, Amazon, and others. This will let you receive payments from your customers and disbursements from e-commerce platforms.
Overall it’s a comfortable and reliable solution which doesn’t require additional effort and expenses.
In Conclusion
Opening a bank account for your business in Hong Kong may be challenging as it demands your personal presence and meeting the list of legal requirements.
Nevertheless, Neat online banking has a great solution for business owners.
Neat is the best choice if you want to open a bank account in Hong Kong.
It helps you get your business set up and rolling faster, more easily and with greater control.
