Finance

What is The Main Requirement to Opening a Bank Account in Hong Kong for a Foreigner? 

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Banks in Hong Kong are considered to be the safest place for parking your money as they keep the details of their client confidential under every circumstance. In Hong Kong, everybody can open a bank account irrespective of whether he is a resident or not. Most importantly you can open the bank account even without visiting Hong Kong. Since the process of making a bank account in Hong Kong is less stringent as compared to other countries of the world, it is considered to be quite easy to do so there. 

You can simply submit an online application for opening a global account in Hong Kong. Once you have an account in Hong Kong, the Government of no other country can track the details of your account. With that, you can incorporate Hong Kong company without any as long as you you have both your address and identity proof which are necessary for any documentation in Hong Kong.

The Requirement for Opening a Current Account in Hong Kong for a Foreigner

Anyone in the world can approach Hong Kong Banks to open overseas account. The main thing that is required to open a current account in Hong Kong by a foreigner is that he or she has to show that he is allowed to stay in the country for 1 to 2 months by the immigration authorities of Hong Kong. 

Apart from that, the foreigners also have to produce some documents such as their local identity proof or National Registration Identity Card (NRIC) which is issued to the foreigners for holding the status of Permanent Resident (PR) in the country. He also needs to produce an Employment Pass (EP) which is issued to the skilled foreign employees who are working in Hong Kong. It is also required of the foreigner to produce Dependent Pass (DP) that is mainly issued to the family members of those who are working in Hong Kong. However, if a foreigner cannot produce a permanent residence certificate, he can try to use his long-term visit pass as well those that is issued to his family members in Hong Kong to do so instead. 

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