Ok so my experiences trying to open hongkong bank account for my seychelles ibc

[daniels27]

Yes. That's why I told you to abstain.

But what @ActionMan meant was to have a dormant HK company and keep a bank account. Once you know‍ the bankers, they may be more willing to help with your Seychelles company.

 

[providenceventurer]

So template looks like if i register my seychelles company in hongkong get bank account⁤ and then put it into dormant mode it might be useful for opening a Seychelles⁣ ibc account with the bankers.But keeping company dormant means bank account opened will also be⁢ dormant ,doesnt make sense in doing all this unnecessarily.I am not sure what is the︀ gain in getting a dormant hongkong company account apart from paper work and just in︁ case maybe a chance at getting a seychelles ibc account with them.But if they are︂ going with any oecd guidelines or central bank guidelines of not opening account for a︃ offshore company why will they change it just because i have a dormant hk company︄ and account.

 

[SCHLOSSFINANZ]

sorry but nobody would open an account for you we are in 2025.
If you‌ deposit > 2 Mio USD in asset management the story is of course different.

 

[providenceventurer]

Can do 5 M

 

[SCHLOSSFINANZ]

then make an appointment with LGT in Hong Kong

 

[providenceventurer]

What is LGT?

 

[daniels27]

https://www.lgt.com/

I think they charge a percantage of your AUM. Probably not what you are‌ looking for.

 

[Sols]

Then make appointments with OCBC, DBS,‌ Citibank, and Standard Chartered. You can probably even go back to Hang Seng and HSBC‍ and approach them as a wealth management/private banking client.

LGT is a good bank. But besides⁤ not being the kind of bank @providenceventurer is looking for and AFAIK 5 million isn't⁣ enough (10+ last I saw), if someone were to bank with LGT, might as well⁢ just go with LGT in Liechtenstein and not some far-flung Asian outfit.

Never really understood︀ why people go to places like Hong Kong and Singapore only to work with European/western︁ banks, unless it's to bridge a interregional business interest. HSBC, Citibank, and SC are different︂ in that their Asian presences are so strong (retail, commercial, and wealth management). Banking with︃ LGT in Hong Kong makes about as much sense as banking with Bank of China︄ in Luxembourg.

 

[Forester]

Currenxie is perhaps‍ not the only chance for such a case in general, a Seychelles company might be⁠ onboarded with some other subject, too (but let's not go offtopic); yet the best bet⁤ for HK, definitely.

I do not think so (but not 100% sure).⁢

No way 🙂

Such guidelines can︉ usually be bypassed when a bank deals with a person that is known to them︊ and has a positive history. Especially in Asia.

But if you are able and willing︋ to deposit 5m, the best solution for you is described by @Sols above. Start with︌ opening an account as a wealth management/private banking client, declaring that you also want︍ the account for your Seychelles IBC.

 

[providenceventurer]

You are correct ,but as the name of the post says i was trying my luck︃ with different banks (before going for either currenxie or pingpong )to find out if i︄ can get some decent brick and mortar banking for my seychelles ibc.I agree with you︅ asian bank in hongkong would have been better but they were so good at refusing︆ me i tried checking with hsbc at the very end and hang seng a second︇ time successfully in the mongkok branch( my quota for rejections was over on that day).I︈ realised somewhere during the day that if u just told them that i had to︉ buy computer hardware and net business would be 500000 usd from my Mongkok supplier it︊ wouldnt be enough to satisfy these bankers.So i also stated i would be happy to︋ put in 5 m .
On a sidenote what are the chances that i can︌ get any banking in shenzhen for paying suppliers and not having to put in so︍ much dough .

 

[providenceventurer]

Yes i went to OCBC also and the guy said to try through their website.‌
Bank of China during the second try in the Mongkok branch was more responsive including‍ personal account.DBS,StanC and Citi didnt try because i was trying with the local banks which⁠ i thought would work well for my small computer hardware business.NBC in my second try⁤ told me I could get a personal account,he however told me he wanted my passport,on⁣ repeatedly telling him that i am a resident in Dubai and he said he didnt⁢ care and wanted my passport only instead of the Dubai proof of address

 

[Sols]

OCBC is Singaporean. The acquired Wing Hang bank (an old‍ but relatively small local bank in HK and Macao) in 2014. They operated as OCBC⁠ Wing Hang for a few years but are now fully conformed with the Singaporean parent.⁤

DBS is also Singaporean. So if you're OK with OCBC, it would follow that DBS︀ is also acceptable. 😉

SC might be one of the biggest banks headquartered in the UK,︁ but it does over 90% of its business through its subsidiaries in Asia, Africa, and︂ GCC/Middle East.

Citibank also has a very strong presence outside of its home in the︃ states. But they have much stronger ties back home than SC does.

Have you tried︄ BEA or CITIC? Chances are low but they can sometimes be friendly to non-residents. IIRC,︅ I've seen a couple of offshore companies banked there (that have had some connection to︆ the region and/or owners depositing a few million HKD in personal accounts).

 

[providenceventurer]

That's good info︃ @Sols.
I dont know what is BEA and CITIC sorry for my lack of︄ knowledge on it.If my knowledge is correct OCBC can give me a brokerage account and︅ open me a parallel bank account which would otherwise require hefty amounts to open.I think︆ I read it somewhere in this forum some user had mentioned it.Let me know if︇ that info is any good.No idea about IIRC either.

 

[daniels27]

Pretty much none. Unless your company is registered in China.

 

[providenceventurer]

Ok dea
dead end here

 

[providenceventurer]

Anyone can tell me more about BEA,IIRC and CITIC.

 

[daniels27]

IIRC is not a bank. It means "If I Remember Correctly".

Bank of East Asia and‌ China International Trust Investment Corporation are both banks. BEA is from Hong Kong and CITIC‍ is a Chinese bank with a subsidiary in Hong Kong trading as China CITIC Bank⁠ International there.

 

[SCHLOSSFINANZ]

make an appointment with LGT Hong Kong put 5 Mio in asset management and negotiate‌ that they do a little bit payment services for your business on the side

 

[daniels27]

They charge percentages of AUM afaik. It definitely won't fit his⁠ cost appetite.

 

[Sols]

https://www.hkbea.com/html/en/index.html
https://www.cncbinternational.com/home/en/index.jsp

Not a good fit in this case.