Hong Kong Company Formation, Offshore Company Incorporation

Cash management account opening procedure

In the account opening meeting with HSBC :

• All documents should be certified by HKCPA and be completely ready (HSBC does not accept signing first and documents submission afterwards);
• Required personnel should all attend;
  • Directors sufficient for a quorum according to M&A should attend;
  • Shareholders holding 10% or more should attend;
  • Authorized signatory should attend;
• Client should provide detail of the company's business;
• Client should specify which corresponding address to use (can be different from company register address and can be overseas address);
• Initial deposit should be ready;
• Bank account number will be released to client within 7 days;
• Client can use the account immediately for fund deposit but need to wait around 3 days for money withdrawal (when the bank account is formally opened).

Around 2 weeks later :

• PIN number for internet banking, ATM card, cheques book etc will be sent to corresponding address;
• Client can then register the 1st stage of internet banking;
• To activate internet banking, client should sign the acknowledge receipt and mail back to HSBC.

In the account opening meeting with HSBC :

• All documents should be completely ready (HSBC does not accept signing first and documents submission afterwards);
• Client should specify which corresponding address to use (can be overseas address);
• Initial deposit should be ready;
• Bank account number, ATM card & card PIN, cheques book and phone banking PIN will be released to client immediately;
• Client can use the account immediately for fund deposit and withdrawal;
• ATM card should first be used and activated in Hong Kong. Otherwise, it cannot be used overseas.