Banks in Hong Kong need to undertake a process of annual review for the corporate account. The purpose is to ensure the bank maintains the latest information about your company. Otherwise, your corporate bank account activities will be restricted.
Herein below, we have included a list of document and information bank always ask for when arranging review with the corporate accounts. We suggest our clients to always have these document ready for banks.
Furthermore, if your company’s mode of operation and directorship structure has a few hierarchies. It is very common for the bank to request further documents to verify the relationship between your parent company and the subsidiary company. The role of each of your company, the background and their Tax ID as well. Nonetheless, the bank will ask who are the ultimate beneficial owner, their tax residency and also proof of tax payments.
For further information, please contact us.
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