Category Archives: Bank Account

A financial plan is a comprehensive evaluation of a company’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. Here are 7 elements you need to include in the financial plan. 1. Cash investment from different parties 2. Forecasted expenses 3. Forecasted sales 4. …

Continue reading “What do I need to mention in financial plan?”

Business plan is a formal statement of business goals. It outlines the route a company intends to take to grow revenues. If you want to open a bank account, it is an essential statement to hand in. Apart from executive summary in the beginning, here are 6 questions you need to answer in your business …

Continue reading “How to write a business plan?”

It depends on the purpose of the bank reference letter since it is usually issued for a particular goal. For instance, it will usually be required while you open up a company bank account. In that case, the bank reference letter does not need to be addressed to anyone. It is a simple letter that …

Continue reading “Does a Bank Reference Letter Need to Be Addressed to Someone / a Company?”

A bank reference letter is basically a report of the bank’s overall picture of your ability to meet the requirements you are asked for, based on your transactions’ history. It provides the following information: 1. Name and Address / Details of the Account Holder 2. Date of the Bank Account Opening 3. Confirmation Statement of …

Continue reading “What is a Bank Reference Letter?”

When you decide to open company bank account, apart from having directors and shareholders showing up at the meeting as well as bringing along the company’s documents, you have to prepare the initial deposit as well. In Hong Kong, the money that the bank first needs to debit depends according to the different banks. Here …

Continue reading “What is the initial deposit for bank account opening?”