Bank Account for Hong Kong Limited

[MiddleEuroAsia]

shizui04421 said:
I Have currenxie but i dont know if i withdraw money from coinbase to that bank they will close my account,
i am using Coinbase as payment gateway but then i dont know where to withdraw the money.
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Just Don't. I have a couple of companies in HK and I always found that the best course of action is to use P2P transfers, specially P2P between B2B parties. it's easier and it flies under the radar, as long as you have sufficient SOF to explain to the recipient FI (Banks/EMIs/Brokers) which can be anything from simple invoices to full-fledged solutions like notarized/Gov stamped documents (contracts).

I do this all the time, it's not rocket science, just have your papers in order and you are good to go.

 

[uplana]

What platform are you using to exchange your crypto to FIAT to get it into your account for the HK company ?

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[MiddleEuroAsia]

uplana said:
What platform are you using to exchange your crypto to FIAT to get it into your account for the HK company ?
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It depends on the end goal.
For regular trading, OKX with my Hangseng account is enough. HKD in&out of the exchange/bank account so nothing too crazy.

For My other activities, I use P2P/OTC trades, and utilize P2P channels like OKX, Binance, kucoin and some others which flies under the radar.
However, the receiving party in this case (bank/exchange/EMI/broker) doesn't need to concern itself with the nature of the transaction, because they have papers that says "this transaction is for XYZ and here is the proof" and they are satisfied with that.

So, at the end, you have to know what your end goal is and work backwards until you find a solution that fits, and in most cases, proper documentation solve this issue.

Last edited: Feb 19, 2023

 

[shizui04421]

VESTANON said:
Do tryout :
barclays
Citigroup
Standard Chartered

the above listed banks have formidable Global presence and repute within EuroAsian Jurisdictions..

A personal acct/biz acct would do just fine...for ease of Trx tryout small amounts and then build over time..
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i will use those banks for my company as i receive paymnets in my coinbase then i will send to the bank and then to my personal account

 

[shizui04421]

MiddleEuroAsia said:
Just Don't. I have a couple of companies in HK and I always found that the best course of action is to use P2P transfers, specially P2P between B2B parties. it's easier and it flies under the radar, as long as you have sufficient SOF to explain to the recipient FI (Banks/EMIs/Brokers) which can be anything from simple invoices to full-fledged solutions like notarized/Gov stamped documents (contracts).

I do this all the time, it's not rocket science, just have your papers in order and you are good to go.
Click to expand...

Can i purchase cryptocurrencies with Statrys or AirWallex or they are more likely goin to block my account?

 

[Mary P]

I recomend to open an account in FAS for based in Hong Kong limited liabilty company. I see in this thread that you accept cryptocurrencys payment from your clients. So, in addition to FAS I`d recomment to open account in Sminti. It`s FAS`s cryptocurrency provider, so they have connection. To open an accont in this EMI is very simple and you`ll not ran into a problem.

 

[shizui04421]

Peter Cooper said:
I recomend to open an account in FAS for based in Hong Kong limited liabilty company. I see in this thread that you accept cryptocurrencys payment from your clients. So, in addition to FAS I`d recomment to open account in Sminti. It`s FAS`s cryptocurrency provider, so they have connection. To open an accont in this EMI is very simple and you`ll not ran into a problem.
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What is FAS, and where can i find Sminti? i tried to google both but didnt find any result.
Thank you for your help, if you could give me your telegram it would be better.

 

[MiddleEuroAsia]

shizui04421 said:
Can i purchase cryptocurrencies with Statrys or AirWallex or they are more likely goin to block my account?
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you can. but you need to use P2P and have SOF to cover it up. if not, forget about it.

 

[shizui04421]

MiddleEuroAsia said:
you can. but you need to use P2P and have SOF to cover it up. if not, forget about it.
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What about paxful ? And what is the "SOF" ?

 

[MiddleEuroAsia]

shizui04421 said:
What about paxful ? And what is the "SOF" ?
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paxful is p2p. Still, it has higher fees and so-so traders, and you can get your account blocked/frozen if you don't have documents that justify your transactions.

"SOF" refers to Source of funds. This includes documents that justify where you money comes from (Salary, savings, investments, loans). but because you deal with crypto, it gets more complicated. As you need to show your EMI that you have nothing to do with crypto but still give them good SOF, and it's an extra if you give them some sort of credible SOF, like notarized/stamped SOF. I will send you a DM to explain more as this is all I can say in the public forum.

 

[uplana]

shizui04421 said:
Can i purchase cryptocurrencies with Statrys
Click to expand...

they were used to advertise here for some time ago, I think they are good with crypto. Ask them before you go ahead.

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[MiddleEuroAsia]

uplana said:
they were used to advertise here for some time ago, I think they are good with crypto. Ask them before you go ahead.
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No, I asked them back and they said they don't support it, maybe that's changed now Idk, but I won't risk it.