Bank of China (Hong Kong) Limited

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Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited is the largest banking group, representing Hong Kong, is the part of the three banks that participate in promulgation of local currency. Formed in 2001 from the group of Chinese banks. Governmental Bank of China owns of 65% of shares.

The group is represented by 300 offices in the Hong Kong possessing with the second largest portfolio of client deposits. The group divisions are known in China as the Nanyang Commercial Bank. In 2002, Bank of China (Hong Kong) appeared on the Hong Kong Stock Exchange.

Types of accounts

Private, corporate accounts.

Cost for account opening (bank fee) 

For activation your account you need to deposit 300 HKD

Managing your account

Internet banking., sending payment orders by mail, fax with voice confirmation.

Account maintenance,
(per month)

Maintenance for current account - free.

Cost for an incoming payment - 50 HKD.

Cost for outgoing payment via internet banking - 100 HKD. 

Cost for outgoing payment via a bank branch - 170-220 HKD. 

Terms of opening the account

The process of account opening consists of the preparatory period and the account opening itself

The preparatory period: includes collecting and providing us with the documents required for opening an account. The duration of this preparatory period depends directly on you.

The process of documents reviewing by the bank staff and the decision to open an account takes from 4 to 6 working days following the date after a personal meeting with the bank manager.

Staff

English-speaking

Credit/debit cards

Visa, MasterCard.

Other bank services

Loans, insurance, stock market, deposits, bonds.

Documents necessary to open the account

Forms for signature feature in the main office of the Bank in person.

Documents necessary from the company

You have to transmit the originals of all the founding and statutory documents of the company. In case the company was registered more than one year ago the Certificate of Good Standing with apostile is required.

Documents necessary from the account holder:

  • original of internal passport;
  • original of foreign passport ;
  • original of bank reference in English with indication of address the account holder;
  • notarized translation of utility bill no older than 3 months into English;

Documents necessary from company’s beneficiary:

  • original of internal passport;
  • original of foreign passport ;
  • original of bank reference in English with indication of address the account holder;
  • notarized translation of utility bill no older than 3 months into English;

Documents necessary from the nominee Director in the case of a company nominee service:

  • Set of documents affixed with Apostille, including the following: copies of passport and utility bill no older than 3 months and bank reference (if the nominee Director is physical entities);
  • Set of documents affixed with Apostille, including the following: certificate of Incorporation, Memorandum and Articles of Association, Appointment of Director (if the nominee Director is legal entities). threatened required documents about this Director – Set of documents affixed with Apostille, including the following: utility bill no older than 3 months and bank reference

Bank of China (Hong Kong) Ltd adheres to the “know your client” principle and thus you may be requested any additional information or documents. This may extend the process of the account opening. Bank also may refuse to open the account without any explanations.

The procedure of opening an account

Assignment us a description of company’s activity (business plan), containing:

  • description of the business conducted by the company;
  • purpose of opening an account in Hong Kong;
  • methods of management and financing of the company;
  • name of the country in which the main business of the company;
  • expected monthly volume of banking transactions for incoming and outgoing payments;
  • the list of partners.

Need a personal meeting attorney/beneficiary with the Bank Manager in the main office of the Bank. If attorney/beneficiary is not fluent in English, you make use of services an interpreter, as communication will be in English.

Web-site

http://www.boc.cn