As more and more people feel the need to have an offshore bank account, the more our governments feel the need to tighten the noose and prevent their citizens from financial security. Many governments like the US government actively look to crucify or tie up with foreign banking institutions to impose regulations and terms that are largely unfair and prevent American citizens from diversifying their risk of investment and safeguard their money.
Hong Kong banks however have not fallen prey to such tactics and as a result remain some of the best banks in the world to open a bank account. For long now, Hong Kong banks have been the center of attraction for people who desire a greate3r amount of control on their money and financial freedom.
Why Hong Kong?
Hong Kong has made itself a lucrative destination for the money of the rich and the famous coz of its iron clad banking system that tolerates no nonsense. Unlike American banks, you won't receive flyers and spam mail encouraging you to open a bank account with so and so bank. No sir. On the contrary, many of the elite Hong Kong banks will require that a potential non resident customer be referred by an existing resident customer before they will even consider reviewing the account application.
At the same time there are multi national banks like HSBC that are friendlier and will very likely grant you an account, provided you be in solid financial standing. Most other banks that are used for offshore banking are however privately run operations that are run in a conservative manner making things a bit more difficult. The truth is that most Hong Kong banks do not need the money from the west, as they have plenty of it coming from the Chinese mainland, now that the boom in China has rendered plenty of its people in a rather rich state of affairs.
Opening a offshore account in Hong Kong
Though most Hong Kong banks will prefer that you be a resident in order to open an account, it can be a rather tricky affair. Even if you do consider moving to Hong Kong, the real estate prices and the cost of living is enough to deter anyone. This makes Hong Kong banks out of reach for most regular people who are considering offshore banking.
There is however a way around it and it is actually rather simple. Instead of individual residency, you can establish corporate residency in Hong Kong by registering a company in Hong Kong. With that you will be able to create a corporate account with any of the Hong Kong banks and enjoy the services of some of the best banks in the world.
The state of Hong Kong's economy is very healthy and Hong Kong banks are some of best banks in the world in terms of liquidity and capitalization. The healthy state of the Hong Kong dollar makes it an even more lucrative option.
It might require a bit of an extra effort but Hong Kong banks are definitely the way to go if you want a super secure offshore bank account.
Hong Kong banks however have not fallen prey to such tactics and as a result remain some of the best banks in the world to open a bank account. For long now, Hong Kong banks have been the center of attraction for people who desire a greate3r amount of control on their money and financial freedom.
Why Hong Kong?
Hong Kong has made itself a lucrative destination for the money of the rich and the famous coz of its iron clad banking system that tolerates no nonsense. Unlike American banks, you won't receive flyers and spam mail encouraging you to open a bank account with so and so bank. No sir. On the contrary, many of the elite Hong Kong banks will require that a potential non resident customer be referred by an existing resident customer before they will even consider reviewing the account application.
At the same time there are multi national banks like HSBC that are friendlier and will very likely grant you an account, provided you be in solid financial standing. Most other banks that are used for offshore banking are however privately run operations that are run in a conservative manner making things a bit more difficult. The truth is that most Hong Kong banks do not need the money from the west, as they have plenty of it coming from the Chinese mainland, now that the boom in China has rendered plenty of its people in a rather rich state of affairs.
Opening a offshore account in Hong Kong
Though most Hong Kong banks will prefer that you be a resident in order to open an account, it can be a rather tricky affair. Even if you do consider moving to Hong Kong, the real estate prices and the cost of living is enough to deter anyone. This makes Hong Kong banks out of reach for most regular people who are considering offshore banking.
There is however a way around it and it is actually rather simple. Instead of individual residency, you can establish corporate residency in Hong Kong by registering a company in Hong Kong. With that you will be able to create a corporate account with any of the Hong Kong banks and enjoy the services of some of the best banks in the world.
The state of Hong Kong's economy is very healthy and Hong Kong banks are some of best banks in the world in terms of liquidity and capitalization. The healthy state of the Hong Kong dollar makes it an even more lucrative option.
It might require a bit of an extra effort but Hong Kong banks are definitely the way to go if you want a super secure offshore bank account.
