What caused the rejection of opening a bank account in Hong Kong?
What are the reasons for being rejected for opening a bank account in Hong Kong?
1. Upgrading bank risk control
In order to combat illegal and criminal activities such as money laundering, Hong Kong banks actively cooperate with the government to assume regulatory responsibilities, raise account opening thresholds, and avoid tax evasion and capital flight.
During the account opening process, banks will also evaluate and conduct background checks on customers' basic information. If a company's main customers come from high-risk countries or regions, especially those that are subject to political and economic sanctions, banks will be cautious and may even refuse to open an account directly.
2. Incomplete, unclear, and untrue information
One of the most common reasons for account opening rejection is incomplete information, such as failure to provide valid information when submitting documents, unclear and untrue content uploaded online, which can lead to account opening failure and rejection.
The requirements and documents for opening an account vary from bank to bank. Before opening an account in Hong Kong, it is necessary to verify all the relevant information required!
3. Failed to provide actual business proof
Hong Kong companies need to provide sufficient commercial evidence to evaluate whether the purpose of the bank account is reasonable, including the company registration certificate, financial statements, articles of association, annual declaration form, and statements of the company for the past three months. If the bank cannot clearly understand the company's operation, trade background, business volume, and other information, the account opening will be rejected!
How to improve the success rate of account opening?
1. Match suitable banks based on the company's situation and qualifications, submit relevant information on the bank's official website in advance or make an appointment through other channels, and wait for the bank to accept.
2. Prepare all necessary documents according to the bank's requirements before opening an account to ensure effective compliance.
3. Clear and fluent answers to relevant questions raised by the bank during face-to-face interviews can gain the bank's trust and help with successful account registration.
Of course, the safest and quickest way is to find a professional agency. With the increasing threshold for opening a bank account, it is easy to open an account on your own due to insufficient preparation and lack of understanding of the account opening requirements, resulting in multiple failed reviews (with a record of unsuccessful account opening). Now, seeking the services of a secretary company can improve the success rate of account opening.
What documents are required for opening a bank account?
Company bank account opening:
① Complete set of company documents: including company registration certificate, business registration certificate, incorporation form/annual declaration form, company articles of association, and bar seal.
② Proof of shareholder identity: valid ID card, passport/Hong Kong/Macau travel permit, personal, and recent three month statement.
③ Business proof documents: There may be different requirements based on the requirements of different customers and branches.
④ Related mainland company information: business license, business certificate, and bank statement certificate for the past three months.
Personal bank account opening:
The required documents for personal account opening are relatively simple. Simply provide a clear scanned copy of your ID card, a customs clearance receipt, a scanned copy of your passport/Hong Kong/Macau travel permit, and a personal KYC investigation form to complete the process.
Note: The required documents for each bank are different, and the final requirements of the bank that chooses to open the account shall prevail.
