How to Open a Bank Account in Hong Kong
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- เผยแพร่เมื่อ 29 พ.ค. 2019
- nomadcapitalist.com/offshore-...
Hong Kong has always been famous as a banking and financial hub, but opening a bank account there has become much more difficult, as they started closing accounts and rejecting certain people.
That was mostly because of different regulations, such as FATCA and CRS, which made banks more conservative and cautious.
However, it is still possible to open a bank account in Hong Kong and depending on whether you want a personal or a corporate account, certain banks are more or less suitable, including Citibank, Bank of China, HSBC, etc.
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I'm in Hong Kong, all of my friends are business owners, and literally every week at least one of them has a gripe with the banks here. From small to even large businesses, its not getting difficult it's damn right hard to operate with the banks. Its not about the amount of money you have guys with big pockets have issues with them too.
The title should be How hard it is to open a bank account in HK
Hi Andrew. Loving the recent content. Just wanted to let you know that this video didn’t show in my subscription feed for some reason. Luckily popped up in my recommended
I live and work in Hong Kong, i.e. I have Hong Kong ID. I had misfortune to open bank account at HSBC HK. They keep sending me papers and saying - we noticed that your permanent address is outside of Hong Kong, explain why. When I opened bank account with them they asked me address in my country of citizenship. So I filled papers, sent them. Then two months after they sent lots of papers again asking the same thing. And in my internet bank my tax residency details are still in review even after I showed them that I already paid taxes in Hong Kong. I thought only US citizens have such problems. Anyway, I opened bank account at Standard Chartered and I don’t have such problems anymore. It looks like HSBC is a mess.
I've been one customer of HSBC since 2014, they treat me well.
Julian Z I guess you got lucky. My colleagues had the same problem with HSBC and people on expat forums have the same complaints. Probably HSBC is good bank when you have 10M HKD
HSBC is heavily bureaucratic. It’s not very customer friendly. It is, however, a developed and integrated international bank. Which makes things easier if you have businesses and assets around the globe.
Just use TransferWise borderless as your bank.
You are 100% correct.
Thank you 🙏 I believe the best is to bank outside of Hong Kong 🇭🇰 I like Hong Kong would love ❤️ to start some kinda business there but much appreciate on the info
Hong Kong is mission impossible to open an account nowadays.
"How frustrating is to open an account in Honk Kong" even being there
Hi Andrew. I really enjoy your content but i have a quick question not related to this video. Who is the creator of that beautiful painting behind you in this video?
Thanks
Things have changed since 2013. Even residents/citizens can't open business accounts anymore!
you need to open a premiere account. the cost of running a small personal account is too much for a corporate bank because of the rent and salary. if you have an HKID, then you might able to open a personal account. they don't need the money but they do it for obligations.
For us American Expats it takes 2 to 3 hours or two days to send money by Bank in China, 1. Must get tax records from the tax office to prove your income, next 2. take your working permit card to the bank, next 3. convert to dollar (takes 1 hour) and 4. fill out the form and send the money (takes 1 hour or more), FYI bank workers hate us because the process takes forever for them too. So I've have heard that some Expats working in China have been able to open a bank in the "Bank or China" of Hong Kong and send money back their U.S banks in minutes. So that's why I would want one, I will try this summer. Otherwise to get by this I use a China Paypal to my American Paypal so its me sending money to myself, but every $1000 cost $50, but these days no choice because you also sometimes lose money for taking time off from work to send money home, so Paypal is the best Choice until we see if Hong Kong allows us to open a bank. Many IF's
Hopefully, I might open a Hong Kong bank account. :-)
you spoke about neat and currency , can you give me currency link ?
What if you’re buying and selling products Chinese products
TOPIC for VIDEO: What breadbasket of currencies should one invest in if worried about a falling dollar?
Gold
So you're saying to open a account with them u need 40k dollars to open a account seriously how bout if u don't have that make but u are working in buying real estate and renting them out will they take u?
without going there
Tried it once, didn't like it.
I don't like HSBC. Had an acct they treated me bad, closed acct 2 years later. They really don't want to help you, they look at you as prey and how can they feed off you. 🤬
ltcomment its hard to open a bank account as a nonresident
Neat is terrible, never work with them. They put me in so much trouble and crashed my business
can you open a hong kong bank account with a chinese passport and a million dollar deposit?
Yes. Go to bank in person
🤔
The women analogy is lacking...
...treat them all the same...because they are all scared, anxious, little girls inside at the end of the day.
But your point is well taken.
You are confusing older girls for women. Just like a lot of adult age boys that aren't grown men.
@@t.l1357 Uh huh. If you say so Huey Lewis and the News..
You felt like a scorned lover? Sorry, that's not helping me understand how you felt... (just kidding!).