Mike Forman said:
As mentioned in my post, an agent can asses your situation first and evaluate if you will be eligible to open a bank account or not. This will save you time and money.
They don't bribe banks nor have special backdoors, they will only speed things up so you don't have to go through the normal clerks to provide everything. The agent makes sure all required information to open successfully a bank account is well prepared and provided to the bank. They will then arrange the interview with the bank and the account can be opened in 2 months.
It is important to chose a provider that offers a full refund if they didn't succeed opening a bank account.
Doing this yourself will take at least 6 months, most banks you have to pay as well an "investigation fee" before they are willing to open an account which you agree to forfeit even when you get rejected (around 1000hkd+)
This is our experience and although we have opened different HK bank accounts ourselves, we won't go through the hassle and months of waiting again. Last opening of a bank account took 8 months! This with historical transaction records of the HK company including bank statements from another HK bank (that had closed the account) and the company 100pct run / owned by a HK director / HK shareholder.
If someone has the time and patience to visit banks in Hong Kong and can wait 6-9 months to receive a rejection, one can try.
We are at present setting up a new HK corporation and use an established agent to open a business bank account either in HK or Taiwan, while HK is at our doorstep.
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