In all cases, a director’s personal visit to the bank is required after receiving the bank’s acceptance.
The Asian banking system is internationally recognized as one of the most stable, rapidly developing and reliable.
Amid the unstable banking situation in the European sector, with constant tightening, tariff increases, new AML requirements and banks refusing to work with certain jurisdictions, citizens and business niches, Asian banks look very attractive as part of conducting international business.
It's no secret that since 2015, Asian banks have adopted a policy of refusing to work with non-residents, putting forward the following conditions:
- The presence of a local director and shareholder who is the ultimate beneficiary.
- The presence of a real office in Hong Kong and/or China.
- Close connection with Hong Kong/China, in terms of business, production, counterparties.
- Personal visit of the director for an interview at the bank. Lack of prior coordination of activities.
The absence of at least one of the points listed led to a refusal to open an account in an Asian bank.
Asia has become a completely low-key sector, inaccessible to owners of small and medium-sized businesses. Selectively, Asian banks may offer account opening to high-profile clients but require a close relationship with domestic business. You can find many articles that say why you can’t open an account in Hong Kong or China.
Law and Trust is ready to offer you this service on a turnkey basis.
Through personal acquired contacts in local banks, as well as extensive experience in working with international banking, understanding the nuances of the banking system and compliance, constantly updating the partner base of financial institutions (in the form of banks and payment systems) and establishing personal contacts with bankers, we are ready offer our customers unique solutions on the market.
Law and Trust offers opening an account with the following banks in Hong Kong and China
Hong Kong Banks
Hong Kong Banks
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HSBC Hong Kong
The cost of Law and Trust services is 10 000 EUR. 1000 EUR is paid for the service of prior approval. The remaining amount is paid upon receipt of the bank acceptance.
Initial deposit is 50,000 HKD.
Bank commission for opening an account is 1350 HKD.
Maintenance cost is 200 HKD per month.
Outgoing transaction cost is 50 HKD.
Incoming payments are free of charge.
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Bank of China Hong Kong
The cost of Law and Trust services is 9 500 EUR. 1000 EUR is paid for the service of prior approval. The remaining amount is paid upon receipt of the bank acceptance.
No need for the initial deposit.
Bank commission for opening an account is 1200 HKD.
Maintenance cost is 120 HKD per month.
Outgoing transaction cost is 60 HKD.
Incoming payments cost is 50 HKD.
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Bank of East Asia Hong Kong
The cost of Law and Trust services is 8 000 EUR. 1000 EUR is paid for the service of prior approval. The remaining amount is paid upon receipt of the bank acceptance.
Initial deposit is 10 000 HKD.
Bank commission for opening an account is 400 HKD.
Maintenance cost is 150 HKD per month.
Outgoing transaction cost is 100 HKD.
Incoming payments cost is 65 HKD.
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Chong Hing Bank Hong Kong
The cost of Law and Trust services is 8 000 EUR. 1000 EUR is paid for the service of prior approval. The remaining amount is paid upon receipt of the bank acceptance.
No need for the initial deposit.
Bank commission for opening an account is 2250 HKD.
Account maintenance is free.
Outgoing transaction cost is 140 HKD.
Incoming payments cost is 60 HKD.
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China Citic Bank Hong Kong
The cost of Law and Trust services is 8 000 EUR. 1000 EUR is paid for the service of prior approval. The remaining amount is paid upon receipt of the bank acceptance.
Initial deposit is 2 000 HKD.
Bank commission for opening an account is 800 HKD.
Maintenance cost is 100 HKD per month.
Outgoing transaction cost is 110 HKD.
Incoming payments cost is 50 HKD.
Banks of China
Banks of China
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HSBC Mainland NRA Branch
The cost of Law and Trust services is 10 000 EUR.
1000 EUR is paid for the service of prior approval.
The remaining amount is paid upon receipt of the bank acceptance.
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OCBS Shenzhen Offshore NRA Branch
Стоимость услуг Law and Trust 9 000 EUR.
1000 EUR оплачивается за услугу предварительного согласования.
Остальная сумма оплачивается после получения акцепта банка.
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DBS Bank Mainland NRA Brach
The cost of Law and Trust services is 8 000 EUR.
1000 EUR is paid for the service of prior approval.
The remaining amount is paid upon receipt of the bank acceptance.
Stages of opening an account:
- Choosing a bank to open an account.
- Payment for prior approval.
- Collection and preparation of documents and filing them to the bank by an employee of Law and Trust.
- Obtaining prior approval from the bank manager.
- Payment of the full cost of the service.
- Agreement on the interview time at the bank.
- Director's visit to the bank with an entourage.
- Filling and signing of relevant documents.
- Obtaining the account details and tokens after the agreed time period.
Here’s what you get after opening an account:
- Account details with information about the bank, address, account number, SWIFT.
- 2 USB tokens.
- Bank reference on the opened account.
- List of contacts of bank managers.
- A brief instruction on working with a bank account.
To select a bank and obtain details, contact the managers of Law and Trust company.
Our clients
Our team
Victoria Zhelezova
Branch Director, HR
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Dariia Grib
Legal secretaries & Receptionists
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