As the bank wanted to understand your business better when opening your company bank account. To provide with the right solutions to support your business growth and protect you from financial crime. So, during the bank interview, the officer will ask you a series of question based on the following aspects:
- Identity documents
- Sources of wealth
- Sources of funds
- Purpose of opening an account in Hong Kong
Required Documents
The documents that you will need to provide will depend on the country or region your business is incorporated in. Plus, the shareholding and directorship structure. For an incorporated limited company in Hong Kong, you will need to provide:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Identity documents for the beneficial owners, key controllers, authorised signatories and persons purporting to act
Sources of wealth
Bank needs to know the origins of the funding that supports your business.
For a new start-up, the funding is more likely to come from the owner. Then you can provide the evidence of wealth could include:
- Personal Bank Statements
- Proof of Salary
- Proof of Property
- Proof of one-off income
For the established business, the evidence could be:
- Audited report
- Company bank statement
Sources of funds
In order to known more about your banking needs. The bank need to understand your day-to-day operating cash flow, including where its funds come from:
- What is the amount of the funds?
- Do these funds come from your buyers?
- From which country/region?
- Through what payment method?
Purpose of opening an account in Hong Kong
If you are opening a bank account for an overseas enterprise, the bank needs to know why you want to set up a business bank account in Hong Kong
- Is the company a sourcing or purchasing arm?
- Is the company a branch office expanding into Hong Kong or Asia?
For further information, please contact us.
You may want to read: Needing Consultation for Bank Account Opening?