The financial and banking centre of Asia, Hong Kong has enjoys an excellent reputation for people and companies searching for the ideal offshore banking location. There are also plenty of consultants who are more than willing to give you assistance in opening a Hong Kong corporate bank account easily and quickly.
Offshore banking in Hong Kong
Why should investors, companies and individuals consider offshore banking in Hong Kong when there are other locations?
Easy to set up
Hong Kong offshore banking accounts are quite easy to set up. They only take approximately 4 to 6 weeks to complete. Most consultants needs only two weeks to prepare the application and banks take two weeks more to review applications, as well as furnish applicants all the necessary details about their bank accounts.
Legitimate and clean
Money laundering has always been an issue in all parts of the world and the government of Hong Kong ensures that capital inflows are clean and legitimate by requesting local banks to know their clients thoroughly when they open or apply for offshore accounts in Hong Kong.
In order to further reinforce the state’s reputation as a financial powerhouse in the region, the government has set up a Bond programme which focuses on Islamic finance. It aims to create a level playing field not only for all types of banking products.
Hong Kong offshore banking is secure and has always projected a positive image not only to the region but all over the world. Clients, investors and suppliers who have chosen to bank there enjoy confidentiality.
Opening an offshore account in Hong Kong
There is a great demand for offshore banking in Hong Kong thanks to the increased capital flows from the East and West. The banking facilities in the area are superb. The initial deposit required for a corporate bank account in Hong Kong is only US $2,000. Companies and individuals who need help in opening bank accounts should know that charges vary from one firm to another, or from one consultant to another.
Advantages of offshore banking in Hong Kong
The third largest financial and commercial center in the world, next only to New York and London, Hong Kong has more than 160 licensed banks, 128 of which are foreign banks with offices and 225 working licensed depository financial companies.
Profits made outside Hong Kong are not subject to tax even if these profits are transferred in Hong Kong. Confidentiality, political stability, and the absence of currency restrictions are just some of the things which make it the ideal place for offshore banking.