Primasia HSBC Know Your Client Update

There is good news from HSBC about account opening, especially for customers who are unable to travel to Hong Kong. HSBC is now able to conduct the account opening Know Your Client via telephone, after which the banker will email the application forms to the customer for signing.

If the directors are already holding personal or business accounts with HSBC Hong Kong, and HSBC has their signature already on file, then the customer can simply sign and return the original forms to them.

For customers who are not already banking with HSBC Hong Kong, they will need to have their signature witnessed at their local bank outside Hong Kong. This does not have to be HSBC: it can beany  other bank. HSBC and one of our clients have bank meeting by zoom call yesterday and it went well according to the officer in charge. After the telephone phone meeting, the HSBC officer will email the bank forms to the customer for signature.

For customers who are not holding personal HK HSBC bank account, the customer would need to sign the application forms in front of a bank (again, not necessarily HSBC) branch staff member. The branch staff should then stamp their full name and staff identification number next to each and every signature.

The customer has to find a suitable bank (presumably their existing banker) themselves – i.e. they have to find a bank officer to verify their signature. The original forms would then need to be couriered back to HSBC Hong Kong officer in charge for submission after which the application can be reviewed and the account opened.

If you have any questions about this positive change to HSBC KYC procedure, Primasia would be happy to assist in with understand not only how this affects you and your company but how to fully set a company bank account here in Hong Kong. Please click here to visit the Primasia Corporate Services website and learn more about company registration in Asia, as well as the wide range of corporate services we offer.

Primasia Corporate Services is a Hong Kong based corporate services provider that has been supporting its clients in Asia for over three decades. Among several of our services, Primasia Hong Kong (Primasia) offers our clients Online Accounting services, China Company Incorporation services, Virtual CFO services, MPF Filing services, Profit tax filing services, Employment return filing services, Wholly Foreign Owned Enterprise (WFOE) incorporation and registration services etc. One of our services which we are proud to be offering our clientele is our investment visa and working visa Hong Kong services.

Connect with Primasia Corporate Services Limited

Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wan Chai, Hong Kong

Website: https://primasia.hk/

LinkedIn: https://www.linkedin.com/company/primasia-corporate-services-limited-pcs-

Facebook: https://www.facebook.com/PrimasiaCorporateServicesLimited/

Twitter: https://twitter.com/PrimasiaHK