I was offered to buy an offshore company with a HSBC bank account

[Kakarot]

I was asking various tax and legal people in HK for quotes on forming a HK company.

One company, called Ressos Legal, offered me a pre-existing HK company which they claimed already had an HSBC bank account -- all the price of 18,000 USD.

So I replied, interesting idea, but wouldn't HSBC freeze my bank account when suddenly the transactions are totally different, when I start receiving money from my totally different clients, and paying my totally different suppliers in totally different countries in totally different amounts than the previous company was using the HSBC bank account for?

to which they replied:

"Seems like you just go on and on asking typical ”˜digital nomad' questions without any willingness to engage a law firm for an initial consultation. Just continue to use google. We will not dedicate any more time to you."

So they're lovely people... But anyway, the basic idea I nonetheless found intriguing.

Is there any possibility of buying a pre-existing company in a jurisdiction you like, which already has the bank accounts etc set up? Would it work? I'm sure it's case by case....

but if the company existed a long time, and thusly built up credibility with the bank, and did transactions in similar jurisdictions as you.... maybe this is a good solution to getting a company and the solid bank account in one quick step.

Or... is this even possible? I mean, the bank account would be in the name of a totally different UBO -- how can they just transfer it to a new one?

I can understand transferring a company to someone else, but a bank account?

 

[Sols]

Wow. Sounds like you dodged a bullet. Perfectly︂ reasonable question to such a proposal, with a rather unreasonable response.

If there is a significant change in ownership of a company, the︆ bank will treat the company as an entirely new applicant and review the (presumably updated)︇ business plan, need to meet with the new owners/directors, and review all new agreements with︈ customers and suppliers.

So if you don't fit the bank's criteria, you would be thrown︉ out at that point. Which would be better than being thrown out a few months︊ into the relationship when you have transactions coming and going.

 

[JohnLocke]

You need to be very careful with people behaving like that and also you need‌ to consider that any firm that you find on Google and that offer you a‍ Ready-Made company with bank account, regardless if it is HSBC or any other bank on⁠ earth, then it is most often a scam or they try to fool you into⁤ your business.

Either they will never deliver or they will ask you (after you paid)⁣ for KYC and you will end up with a lot of hassle and maybe the⁢ bank even refuse to accept the new owner as a banking client.

If you want︀ to do such and acquisition you will want to find a reputable lawyer which is︁ know and for sure won't be able to help you with a ready-made setup like︂ this.

 

[Kakarot]

indeed sketchy as hell, and a pretty ridiculous response, this was the company that proposed‌ it to me, a singaporean company strangely.

They seemed like pretty dumb characters to me‍ if they hadn't even thought out replies to those kind of basic questions that surely⁠ anyone would ask.

I don't think you could make 18,000 dollars in the world if⁤ you were so stupid you wouldn't even ask such basic questions. So I wonder who's⁣ going to buy their company exactly.

this is the company that offered it to me:⁢

Ressos Legal Pte Ltd

100 Peck Seah Road, #07-14 PS100
Singapore 079333
T: +65 9773︀ 5820
F: +65 6491 6412
E: [email protected]
www.ressos.com

 

[Martin Everson]

Thread title should read:

"I was almost scammed into buying an offshore company with‌ HSBC account".

Anyway there response sounds very unprofessional. Getting asked loads of questions by‍ a potential client is part of the job. Be grateful the person put their true⁠ feeling down in that response to you so you at least know now.

 

[CaptK]

Don't do it the bank account will be closed and then you have to start‌ a whole new application for a bank account.

I stopped facilitating sale of companies with‍ bank account in HK and Asia as a whole for this reason.

 

[cyprus123]

I also think it is very questionable to offer a company with existing bank account.‌ Most probably there will be issues with the bank account very soon, especially with a‍ high street bank (like HSBC) - if the account even exists.