Hong Kong Phone Card

Hong Kong is regarded as one of the major financial centers in Asia. With over 100 licensed banks in Hong Kong offers financing services related to several customers in Hong Kong and the Asia Pacific. You can avail services such as corporate banking, retail banking, investment services and trade finance to each and every bank in Hong Kong. Some of the largest banks worldwide, including Canadian banks have their representatives here. Based on the feasibility and the credit risk of the individual enterprise, most banks in Hong Kong provide comprehensive banking services. If you are a foreigner, you can check with your bank to verify existing if they have a division here. It is also advisable to ask for details of the services they offer.

Today it is a simple process to open a new account with any bank in Hong Kong. To start a new business account, the first step is to register your business. If already registered, you can open an account with the required documents such as company registration certificate attached to other forms of regulation on registration, certificate of incorporation, articles of association and articles of association, proof of identity of all directors and copy of board resolution indicating approval of the Board to start a new account.

For opening a bank account, the company must be registered in Hong Kong. The authority of Hong Kong does not allow all types of structures on a register, only certain structures of the company are allowed. Three types of companies are allowed to enter, including a company wholly foreign, joint venture and a representative office. You can open an account based on the structure of the company.

A representative office is limited to only open foreign currency accounts and RMB spending while wholly foreign-owned and joint venture can open bank accounts of some, including basic accounts, capital accounts and ordinary accounts. You can not open a basic account and ordinary account in the same bank.

Account type:
1. RMB Corporate Accounts
This account type includes basic account, current account, special account and temporary account.

You can use a basic account for the transfer of funds, payment of wages, and deposits and withdrawals. accounts are scheduled for the needs of cash management and you can not withdraw money from this account. For special needs, including infrastructure construction, reconstruction, agency business, credit cards, you can go to a special account. If you've decided to start a business temporarily in Hong Kong, it is better to go with a temporary account. You can receive remittances and inward electronic draft through this account.

2. Foreign currency accounts:
These types of accounts include capital account, the basic account or the account settlement, loan account and the loan account.

A capital account is for the capital injection and you can make transactions in foreign currencies operating through settlement accounts. A loan account is for foreign currency borrowing from a bank in Hong Kong. For the loan principal repayment and interest, you can use the service account of a loan. The approval of the State Administration of Foreign Exchange (SAFE) is required to open a foreign currency account and capital account regulations.

You can use bank accounts in Hong Kong outside the metropolis through the following manner.

i) Telephone Banking / Internet Banking Service
Hong Kong banks such as HSBC and SCB to provide this service. You can use the service through the Internet to make inquiries and the balance of cash transactions. HSBC offers an exception to a monthly fee of HK $ 80, if your account has an average monthly balance of HK $ 50,000. In the case of CBS, it offers.