Requirements To Open Corporate Bank Account

General

Requirements To Open Corporate Bank Account

Opening a corporate offshore bank account a few years back was somewhat of a hassle. This was because, in those days, the internet had not grown into what it is today and a large portion of the documentation and processes that are involved in registering an account with the bank was done by snail mail. This meant waiting for significant stretches during the verification process. However, these days, the requirements to open a corporate bank account are quite non-demanding and just about anyone can do it. This includes corporate entities just as individuals who are on the lookout for a financial service that can provide a great deal of convenience and save them some money too.

Corporate accounts are open to companies that engage in international trading, asset-holding, investments, Yacht/Jet servicing and this is because such companies execute a large amount of money every day and furthermore in multiple currencies. An advantage of having the corporate bank account is that the account holder can execute in any currency without being open to losses due to foreign exchange. Credit and debit card facilities are likewise easily available and can be activated for one’s convenience. While debit cards are easier to maintain, credit cards are more useful and offers a wider exhibit of services but they likewise require a larger deposit in order to obtain one. However, this amount is certainly not a very large one and most business people will be able to easily get themselves a credit card which is supported either by Visa/Mastercard thereby giving them access to their money anywhere on the planet. Once the open corporate bank account in hong kong is opened, you can transfer funds through the Internet banking system which is available from every single offshore bank. More often than not there is likewise a personal corporate account manager in case there are any problems during usage. Here is a short overview of the exact process which is followed to open a bank account in offshore locations.

An application structure is filled and afterward signed by the customer. This is sent to the bank by electronic purposes for records. Alongside this structure, there is a set of supporting documentation that must likewise be attached via the post office package and click https://www.formationkit.com/en/hong-kong-trademark-registration/. These include a notarized copy of the company’s Certificate of Registration, a notarized copy of the Registered Share Certificate/s, a copy of the company’s Resolution or Power of Attorney to open account, a notarized copy of the passport plus one other personal identification document of each authorized person, director and shareholder, a reference letter from a banker for each authorized person and shareholder and a document that can be used to verify the current address of residence of the applicant/shareholder.