For those who are considering to open a company bank account with Bank of China, there are a few things to be aware of. Speaking from experience from our previous clients, they have encountered problems to what they are required to have for a successful opening:
For Example, a recent client was denied approval of company bank account opening with BoC due to the basis he was not a serviced office client.
New Since Q4 2013, BoC have mentioned they do not accept, co-work space, virtual or registered office agreement. What clients need are the proper tenancy agreements and also the 1st invoice from landlord or suppliers for serviced office/ traditional office client. They needs these due to recent activity of BoC receiving fake contracts from their clients.
Below states the standard requirement if they wish to use BoC:
1) Have HKID card with valid visa status in HK ( for overseas clients)
2) A proper tenancy agreement with office address to be the same as on NC1, or ND2A (price of rent/month and also rental period should be included)
3) Invoices and receipts (proof of payment of the venue)
4) Business Plan
5) Personal Residential Address (cannot be same as company registered address)
If this is a difficult process, then an easier solution would simply refer to other banks.
Good Luck!
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