USD versus HKD in regards to AML, KYC and so on

[NicolasMaduro]

So I can either choose to settle payments to my bank account in USD or HKD.

Would you expect that a company transacting in USD will receive more questions and more compliance
versus a company transacting in HKD?

Is there any difference?

 

[Simon4466]

Of course not 100% sure here (as this depends on a million factors so to say), but what is your home currency so to speak?
Say you are an American and you suddenly receive $10k worth of HKD, that might raise some additional suspicion (and vice versa if you are from Hong Kong and suddenly receive dollars).
But in reality, it shouldn't matter. The only thing that matters for a bank is whether or not the transaction itself is 'sketchy'. And they have tons of ways to figure that out nowadays.

 

[Sols]

Since it's pegged to the USD, HKD is sometimes used as a shadow currency to USD for high-risk transactions where the parties tolerate a small loss.

All else being equal, you can typically transact large sums of HKD with far less compliance involvement than with USD.

Toggle signature
This is the probably the answer to your question.

 

[JackAlabama]

NicolasMaduro said:
So I can either choose to settle payments to my bank account in USD or HKD.

Would you expect that a company transacting in USD will receive more questions and more compliance
versus a company transacting in HKD?

Is there any difference?
Click to expand...

if you have no usa involvement whatsoever use hkd.

 

[AMD]

HK over the USA really? comparing a US LLC for instant in New Mexico or Delaware would really be worse a HK LTD ?

 

[JackAlabama]

AMD said:
HK over the USA really? comparing a US LLC for instant in New Mexico or Delaware would really be worse a HK LTD ?
Click to expand...

the question here was about currencies and not companies.

 

[Marie Manila]

I'd avoid USD payments and take the HKD route.
I think most banks will be more relaxed processing HKD payments than USD payments.