hongkong offshore banking

Hong Kong price list

Local HK Provider do provide wide range of maintenance services such as bookkeeping, tax reporting and arranging the annual audit as well. Local HK Provider is providing one-stop services to Hong Kong private limited companies.

Our fee to incorporate a private limited company with standard authorized share capital in Hong Kong is US$2,100

It covers the following:

  • Payment of incorporation official filing fee: US$225   
  • Payment of first year’s business registration fee: US$315
  • Production of one complete company kit: US$200
  • Provision of first year’s Company Secretary: US$300
  • Provision of first year’s Registered Office: US$560
  • Being our incorporation services charge: US$500

Please note the followings:

  1. You are required to pay an additional capital duty on 0.1% of the excess capital if the capital of the proposed company exceeds HK$10,000;
  2. The above quotation only applies to the use of our standard memorandum and articles of association;
  3. The delivery fee of pre-incorporation and post-incorporation documents for yours signing before the incorporation and the company kit to you or your clients after incorporation has not been covered in the above quotation. Please let us know where the company kit will be sent to so as to enable us to provide you a quote for the courier charge for your consideration;
  4. Our provision of registered address services only covers the services of servicing of letters from the government authorities: we will receive the letters from the government and forward the same to you or your clients. Please be informed that clients are not allowed to include local HK Provider's telephone number and fax number in any correspondence unless getting the approval from him. If you would like to use his office address for commercial letters and correspondence and/or have an office telephone number and fax number in Hong Kong, you are welcome to enroll our Hong Kong virtual office services. We will provide you the details of our Hong Kong virtual office services for consideration on request;

Hong Kong STANDARD incorporation package: US$ 2,999

  1. Hong Kong Private Limited Company incorporation
  2. Corporate secretarial services
  3. Registered Office/Business Address
  4. HSBC HK Bank Account

HONG KONG COMPANIES’ ANNUAL MAINTENANCE PAGE

 

Establishment of a corporate bank account in HSBC Hong Kong

We mainly work with HSBC, the SME center next to our building for the establishment of the corporate bank account for our clients. We mainly recommend our clients to go for the Business Direct account, which is an all-in one account. Business Direct Account is a multi-currency account, which include the most common foreign currencies. HSBC has superior Internet Banking Services, which allow  to do wire transfer online. HSBC HK does not impose any minimum balance requirements on its Business Direct Account.

Our services fee to assist you to set up a Business Direct account in HSBC Hong Kong is US$900.

Basically HSBC HK requests at least one director or one principal shareholder to physically present in the branch where the bank account will be opened for the bank account opening ‘know your customer’ due diligence process. If you would like to avoid your physically presentation in Hong Kong for the bank account opening, you can engage local Provider as your temporary nominee shareholder to facilitate the bank account opening.

Our services for the bank account opening in HSBC HK cover:

  1. Inform you the requirements of HSBC Hong Kong;
  2. We will make prior appointment for you with one of our bank officers. By the way, we will accompany you for the bank account opening meeting;
  3. We will guide you to answer the questions raised by our bank officer;
  4. We will collect the ATM card for you if you do apply for an ATM card;
  5. We will send the ATM card and Internet Banking PIN number and security device to you or your clients after their issue by courier;
  6. Arrange those director(s), shareholder(s) and beneficiary(ies) holding at least 10% interest and bank account signer(s) who will not visit HK in person for the bank account opening to verify their signatures and certify their passport and recent residential address with proof in HSBC overseas branches.

Regarding the establishment of a corporate bank account, the bank basically requests the following documents from the clients:

  1. A set of certified true copy of the full set of corporate documents certified by a CPA, lawyer or our bank officer. We will do this for you if you will engage us for the bank account opening;
  2. The certified passport and certified recent residential address proof of each director, each shareholder and each ultimate beneficial owner who owns 10% or more interest in the proposed Hong Kong company and each bank account signer. The passport and recent residential address proof can be certified by CPA, lawyer or HSBC officer.
    This is our clients’ task;
  3. The business activities proof of the proposed company such as invoices, quotations issued by the suppliers of the subject company, contracts entered into in the name of the subject company and/or a simple business plan. We will guide you how to write the business plan if you will engage us for the bank account opening. The quantity of business proof is on case-by-case basis. We will advise you accordingly after we study the business and corporate structure if you will take our bank account opening services.

By the way, the bank requests a minimum initial deposit of HK$5,000 for its Business Direct Account.   

Note:   

1)  HSBC Hong Kong reserves all rights to request further information and documents. If you will visit Hong Kong in person for the bank account opening, please let us know two working days in advance before their visit so that we can fix a meeting with our bank officer for them. Thank you;

2)  Further to our previous paragraph, we can assist you to set up a corporate bank account in HSBC HK without their physical presentation in HK if we are the temporary nominee shareholder holding 10% of the issued share capital of the subject company. Then once the bank account is approved, we will transfer our share(s) to you immediately. That means upon the receipt of the company kit from us, the company is 100% owned by you. We request an extra fee of US$250 if you would like us to act as your temporary nominee shareholder to avoid your physical presentation in Hong Kong for the bank account opening. Please be informed that even you can be avoided to visit HK in person for the bank account opening, you are still required to visit an overseas HSBC branch for signature verification and passport and recent residential address proof certification. Thank you.

TIME FRAME FOR THE BANK ACCOUNT OPENING

Approval: it depends on a few factors such as the scope of businesses, the expected annual turnover, the nationality of the key personnel of the company and the locations of its business partners. For general business, usually the account can be approved in 2-4 working days after the completion of the whole incorporation process and you have provided us all the information and documents requested by HSBC HK.

Issuance of ATM card, Internet banking PIN number and security device: it normally takes around 8-10 working days for the bank to issue our clients the materials upon the approval of the corporate bank account. Thank you.

 

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 Asset Protection s.r.o. is not a law firm and does not provide legal advices or legal services. We recommended to consult licensed professionals with regards to local tax and legal matters.

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