ATA Corporate Formation & Management Limited  


Time: 2008-7-1 Author: Source:


 Banking Assis
How to open an account in a bank
Open company account in Hong Kong or outside Hong Kong. Generally there are kinds of situations as stated briefly below
1 All directors open account in HongKong directly
    HongKong bank generally demands all directors of the limited company to process opening procedure in the bank in person. If signer of the account or director of the company is people of China hinterland, he must hold the visa of China of pass to HongKong and Macao. This is one qualification to open an account. Materials necessary to the owner of account please refer to Item 4.
2 Treatment if director of the company cannot go to HongKong in person to open the account
    Because some directors may have inconvenience to go to HongKong to open the account directly, they can sign opening document in China Mainland Office of HongKong Bank
signature certification by conventional name. When the office submits the document to the head office in HongKong, well transact all procedures in the head office for them. Due to complexity of this procedure, clients can consult us in advance.
3 All directors going to bank of foreign investment of hinterland to open offshore account
   If you have no visa, you can open an offshore account in Chinese office of HongKong Bank. Account signer and non-account signer only need to own ID card of China hinterland. Materials necessary to the owner of the bank please refer to Item
4 Materials necessary when opening a company account in the bank
     ID certification document of directors
ID card or visa in original/commercial register in original /register certificate in original/company rules in original/company rules/minutes in original /opening document signed by the accountant /cash deposited in the new account/credit certification issued by the bank union in originalcredit certificate should includeName of the owner of the account, visa, ID No., opening date, deposit amount and words such as Sound Record of Banking Credit”)

 Service content
recommend opening bank/arrange opening bank to send letter of indication of signature testimony to office of the hinterland /prepare documents signed by accountant, minutes and opening application/arrange introducer/to the opening bank to help the transaction/speed return fee/car fare

The financial industry
From early in its history, the excellent harbor and geographical location of Hong Kong made it a focal point for international trade. Today it has a developed financial and trade infrastructure with a sophisticated banking and financial services industry. This infrastructure, a low tax rate, no exchange control and a continued commitment to minimum government regulation are the ingredients which have made Hong Kong the financial center of the Pacific and Far East.

Registered and paid-up capital
For a Hong Kong limited company, the minimum registered capital is HKD10, 000(aboutUSD1, 200) the government levies 0.1% tax on registered capital. The board of a company has a final say about paid-up capital. You dont have to pay up your capital share at the time the company is formatted.

Share capital and directors
There is no minimum share capital requirement. Share capital can be denominated in currencies other than Hong Kong dollars and multiple currency share capital is permitted. Separate classes of shares with different rights to dividends and in different currencies are permitted. A minimum of two shareholders is permitted.
Companies may have only one director. It is not necessary that any of the directors be resident in Hong Kong. The directors may be corporate. Particulars of the directors and secretary must be filed with the Registrar.

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