Bankers in Hong Kong has set strict requirements for account opening especially for companies owned by non-residents since January 2012 due to the Anti-Money Laundering and Due Diligence Compliance Requirements from the US Foreign Account Tax Compliance Act. The banker would request for solid business proof, source of funds, and qualification(s) of the Director(s) and Beneficial Owner(s) of the Company.

Furthermore, for the set up of Bank Account(s) in Hong Kong, all Directors and Authorized Bank Signatories are required to go to the bank in person and have their signatures and passports/HKID verified by the bank officer.

Devonshire would be delighted to refer our bankers such as HSBC, Standard Chartered Bank, OCBC Wing Hang to their clients and liaise with them to set-up the Bank Account for the Company. Devonshire would also be delighted to initial review all related business proof documents (e.g. Sales/Purchase Agreements, Invoices issued/received, Shipping documents, etc.) and would formulate an appropriate approach with the desired bankers to minimize the applicable being rejected by the Bankers.