Preparation for Bank appointment: Hong Kong

Dear Customer,

Thank you for choosing Startupr. As with most banks, Hong Kong institutions set certain prerequisites, such as certification of corporate documents, before permitting anyone to set up a business account. Startupr is experienced in this sometimes complex process, and pleased to assist with these preparations.

So you’ll know what to expect, we offer you a summary of typical bank requirements, with advice on what and how to prepare for a successful meeting with bank officials.

Note that all documents should be in English. If your original documentation is in another language, it should be translated into English, and certified by a local authorized translation agency.

 

1. Scheduling your appointment

Once you let us know the date you can meet with bank officials, we contact the bank to make the appointment, outlining the nature of your firm and its corporate structure, and indicating your availability. For reasons of confidentiality, we cannot actually attend this meeting. Nor, serving only as company secretary, can Startupr be responsible for whatever formal arrangements you make with the bank.

Please, collect certified incorporation documents from our accounting/auditing office (all documents will be certified by CPA (Certified Public Accountant).

 

2. Required Company Documents

  •    Certificate of incorporation
  •    Business registration certificate
  •    NNC1 form
  •    Articles of association

 

3. Personal documents

The documents below should be delivered to bank officials by you personally. Please note that failing to provide these at your meeting may delay the process.

  • Passport (required), and other supplementary documents such as home country driver’s license showing your address.
  • Additional address proof required, bank statement, electricity bill, phone bill, etc.

 

4. Supporting Company Documents and Information

1) Some proof of business, or preparation for business, even if your company is newly registered.

Bank officials will inquire into the nature of your business, and your experience in the field.

2) Issued or Received Invoices

Once a company incorporates, it may issue or receive invoices. Any invoices for your firm help demonstrate actual business engagement.

3) Business Description.

Compose and print a one page summary of your firm for presentation to the bank.

A dated, signed statement on company letterhead, naming directors and/or principal shareholders.

Copies of agreements with suppliers, if any.

A letter of reference from a bank where you currently have a business or personal account is helpful, as is a reference from a professional contact or associate.

Any business certificate and incorporation certificate from a previous company you owned or controlled further establishes your experience.

5) Bank appointment.

A typical bank appointment occupies 25-30 minutes for discussion of your business.

6) Results of Meeting.

Bank officials may open your firm’s new account the same day. Or they may postpone their decision as long as ten business days.

Further Requirements:

Shareholders with more than 10% of shares must be present during the bank meeting.

If there are multiple directors, a proper quorum of these should be at the meeting. Startupr suggests all directors attend.

Before departing for the bank meeting, it’s prudent to make sure all necessary documents are in hand.

 

 

This notice seeks only to advise what bank officials normally require during such meetings, and what they may additionally request. Thorough preparation makes for successful application.

 

BANK ACCOUNT OPENING DISCLAIMER:

Be aware that banks reserve the right to decide whether to open a specific company account. Startupr itself is neither responsible nor liable for any bank’s decision. Although customers may succeed in opening certain bank accounts the same day, most of our clients normally enjoy company account opening within 4-10 days. In some cases, if a bank requires further information, or a local holiday occurs, there can be several days’ delay.