Opening a corporate bank account is a relatively simple and straightforward procedure in Hong Kong. However, before you can open an account with your desired bank. You have to almighty understand what information and document the bank are requesting. For example, the bank needs your business proof. Then what does Business Proof mean? What document and information you have to provide? In this article, Centre O is going to take about Business Proof.
Some entrepreneurs think Business Proof means the proof of business ownership. Then the entrepreneurs will provide all the documents when they establish the business. In fact, some entrepreneurs think Business Proof means the existence of the business. And then the entrepreneurs will prepare the office tenancy agreement to show the office is still here. Unfortunately, the concept of Business Proof is far more than the ownership and the existence.
‒ Confirmed order
‒ Sales contract
‒ Packing list
‒ Documentary credit
‒ Lease of office
‒ Provisional sales and purchase agreement (for property holding company)
‒ Applicant’s website
‒ Applicant’s leaflet / brochure
‒ Counterparties’ website
‒ Counterparties’ leaflet / brochure
‒ Audited report
‒ 3 – 6 months bank statements
‒ Employment letter
‒ Relevant certificate
‒ Relevant license
‒ Director appointment letter from parent or related company
‒ Annual report of parent or related company
‒ Parent or related company’s website which indicates the relationship between applicant and parent or related company
‒ Incorporation documents of the parent or related company
‒ Latest audited report
‒ Latest 3 – 6 months bank statements
Last but not the least, the above stated are the basic concept of the Business Proof. You are welcome to provide additional documents and information to facilitate your account application. We know it is time consuming to gather all the required information. But you still need to aware some of the documents such as bank statements are valid within certain time period.
For further information, please contact us.
You may want to read: NEEDING CONSULTATION FOR BANK ACCOUNT OPENING?