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Why is it so easy to register a Hong Kong company but so hard to open an account?

Released Date: Dec 09,2021 Article Source: HUANZE

The registration of Hong Kong companies has become a springboard for more and more enterprises to go international. Hong Kong's unique environmental advantages, financial advantages and tax advantages have also created its position as an international financial center. Before the world100Among the big banks, at least80Both companies operate in Hong Kong, and opening an account is also a very important part of registering a Hong Kong company.

The registration of Hong Kong companies has become a springboard for more and more enterprises to go international. Hong Kong's unique environmental advantages, financial advantages and tax advantages have also created its position as an international financial center. Before the world100Among the big banks, at least80All businesses are in Hong Kong, and after registering a Hong Kong company, opening an account is also a very important part. However, recently, it has become difficult to open an account in Hong Kong bank, today we will analyze the reasons:

1Reasons left by history. because2018Years ago, many Hong Kong companies registered and opened an account, but did not use the account, which wasted the bank's management resources. The operation cost of an account was about10Hk $10,000/Years, if the customer'sAccount opening with Hong Kong companyAfter no use, that is, no deposit or other business income, then the bank is operating at a loss.

2Countries all over the world further tighten the control of money laundering, all require banks to strengthen supervision, because once found, banks will be punished.

3Influenced by the market environment,Hong Kong bank accountThe quantity is close to saturation. In order to avoid waste of resources, it has become an unspoken rule of the industry that banks set a high threshold for opening accounts to select high-quality customers.

4Because of the high risk of the industry, the customer groups of individual companies are regions or countries that have been sanctioned or restricted, such as Syria and Iran. Iraq, etc., will eventually make it difficult to open an account.

To sum up,Account opening with Hong Kong companyThe difficulties are caused by various factors. It is easy to register a Hong Kong company, but it is difficult to open an account. In the actual operation, we also need to make countermeasures according to the corresponding situation.

Easy to register a Hong Kong company, but hard to open an account?

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