Corporate Bank Account
We can help set up a corporate bank account in the destination of your choice including Thailand, the Isle of Man, Guernsey, Hong Kong, Singapore, Mauritius, the British Virgin Islands, Bermuda, Gibraltar or the destination of your choice. It is often beneficial to open a corporate account in Thailand and a corporate account in Hong Kong for tax purposes. If you are a foreign national living in Thailand and have proof of address in a Western country, e.g. UK, Germany, France, Australia, we can help set up a HK corporate bank account and HK company formation without leaving Thailand. We can also help you set up a Thai company and Thai corporate bank account.
Please email us your requirements and we will pass your request on to our trusted professional financial consultants.
Opening Corporate Bank Account
Usually we open Thai corporate bank accounts with Thailand and offshore corporate bank accounts with HSBC in Hong Kong.
Setting up a Corporate Bank Account in Hong Kong with HSBC
How to open a corporate bank account offshore.
We mainly work with HSBC for the establishment of offshore corporate bank accounts for our clients as their banking facilities, easy of set up and reputation make it the obvious choice.
We can assist you to set up a Business Direct Account in HSBC HK with or without your physical presentation at HSBC (as long as you have proof of address in a white listed country, e.g. UK, France, Germany, Australia).
The Business Direct Account is a multi-currency account which includes the most common foreign currencies. You can apply for an ATM card, telephone banking and/or internet online banking services. HSBC has superior internet banking services, which allows you to do wire transfers online. The daily transfer limit is also high.
Here is an example of our corporate bank account set up proceedure:
1) preparing all the documents necessary for opening the corporate account with HSBC in Hong Kong;
2) making a prior appointment for you with a bank officer in Hong Kong, should you wish to meet them and accompany you to the meeting. Alternatively, if you do not wish to fly to Hong Kong, we can accompany you to the bank in Thailand.
3) collecting the ATM card for you when you apply for a corporate bank account ATM card;
4) sending the ATM card and internet banking PIN number and security device to you after issue;
5) verify the signatures, certify copies of passports and proof of residential address for those director(s), shareholder(s) and bank account signee(s) who do not intend to visit HK in person for the bank account opening. In which case, we will accompany you to HSBC bank in Thailand.
Documents for Setting Up a Corporate Bank Account in Hong Kong
To establish a corporate bank account, the bank basically requests the following documents from the client:
1) a set of certified true copies of the full set of corporate documents certified by a notary (e.g. lawyer). We will do this for you when you apply to open a bank account;
2) The certified passport and recent proof of residential address in Thailand 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 signee. The passport and recent residential address proof can be certified by a notary (lawyer).
By the way, the bank requests a minimum initial deposit of HK$5,290 for its Business Direct Account . Please note that the bank would deduct HK$190/- as a set up fee. Also the bank would deduct HK$100 as the company search fee (altogether US$38).
The account can be approved in 2-5 days. Issuance of an ATM card, internet banking, PIN number and security device takes around 2 – 3 weeks.
HSBC bank in Thailand also charges 1000 baht (300 baht if you are already an HSBC Premier bank account holder) for witnessing and stamping the HSBC HK corporate bank account documents.
Foreign currency savings available in 11 currencies – including US dollar (USD), Euro (EUR), Pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF), Renminbi (RMB)* and Thai baht (THB)
Withdrawal limit varies country to country. Normally HK$20,000 (roughly US$2,500) for ATM withdrawal and HK$50,000.00 for transfers.
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