One. Bank Accounts and Jurisdictions  
                                      
Wherever you set up your companies, you can open bank accounts in Hong Kong, the companies, which could open bank accounts in Hong Kong, range from Hong Kong companies and China companies to offshore companies and overseas companies.

Two.  Local Bank Accounts & Offshore Bank Account
                                                                     
Local account means HONG KONG enterprise open the account in HONG KONG local bank while the offshore account means open account outside HK such as SHENZHEN, SHANGHAI and USA.. Any companies can open bank accounts with a local bank or an offshore bank for their different purposes. If a Hong Kong Company opens a bank account with a local bank, it is called a local bank account, If a Hong Kong Company opens a bank account with a Shenzhen bank, it is called an offshore bank account.

Three:  Types of Accounts       
                                             
Many banks are likely to provide all-in-one corporate account while others have different types of bank accounts for your specific business purposes. Taking Hong Kong as a sample, the bank account could usually be divided into four as follows:    

1.Hong Kong Dollar saving account;                                                        
2. Foreign currency saving account (including all the top popular currencies);               
3. Hong Kong Dollar current account;                                                       
4.letter of credit (L/C) account. The above-mentioned three accounts can receive L/C but the L/C account is required if you want to open L/C for your business payment.

Four.  Who Should Go to the Bank for a Corporate Account Opening? 
                        
1. The Eligible Shareholders Should Go                                             
All the shareholders whose shares are more than 10% (including 10%) are eligible to sign the bank documents personally at the bank or the designated place before the bank managers if a bank account is being opened. All the shareholders are welcome to be present.   
                                                   
2. The Eligible Directors Should Go                                                      
Two third of corporate directors whose shares are more than 10% (including 10%) must go to bank personally for opening the bank account. All the directors are welcome to be present.

3. The Eligible Appointed Account Managers                                                      
If the shareholders or directors appoint anyone else to manage the bank account and sign for and on behalf of the company, the person should also go himself and sign the documents for bank account opening.

4. Special Arrangement by HSBC and Hang Seng Bank                                      
HSBC and Hang Seng Bank can provide a special arrangement for Tannet’s  clients from Mainland China to open a bank account by internal witness signature through video meeting conference ( the cover area includes Shenzhen , Guangzhou , Shanghai & Beijing.

Five.  The documents required & The handling charges of bank 
                                                  
1. Original copy of Identity certificate of directors (Identity certificate, HK & Macau passport or passport which issued by original country where the holder belongs to )
2. Original copy of business license
3. Original copy of Certificate of Incorporation
4. Original copy of Memorandums and Articles of Association                            
5. Certified True Copies prepared and signed by CPA
6. The cash deposited in the new account

7. Residential address prove (water, electricity or phone bills in the latest three month)
8. Business transaction records & Business plan (some banks need it)                    
9. Clients should need to pay the Name Search fees to Bank with HONGKONG company and  the company which registered at OVERSEAS.

Six.  Tannet’s Assistance in Bank Account Opening   
                         
Tannet will provide all the possible assistance in any type of bank account opening requirements and all the follow-up activities.     

1. The assistance package in bank account opening includes bank recommendation, making an arrangement and an appointment with the bank, working a referee, providing the certified true copies prepared and signed by CPA, preparing the documents required, providing a guide to follow-up the processing, providing the contact address. 

2. The follow-up activities include all business transactions through the bank processing, such as letter of credit, T/T, bank transfer, cheque deposit, etc.

Seven.  How Long Can We Use the New Account?
                                
It usually takes two hours to open a bank account, and the bank needs further confirmation of the documents provided by the applicants with the relevant government department. This confirmation processing takes two weeks.  the detailed time depends on the different banks.

Eight:Contact us 

If you have further enquiry, please do not hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website www.tannet.net, or calling  Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143181. or emailing to mailtannet@21cn.com . You are also welcome to talk with Overseas SME Service Department online by simply joining our MSN: service@tannet.net.

Tannet--A Sound Global Business Solution Partner, Serving the World of Business, Professionally & Reliably.

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