Circulars

2017/02/21

Problems with Opening a Bank Account in Hong Kong?

Dear Member,
 

The Hong Kong General Chamber of Commerce (HKGCC) conducted a survey in May last year after hearing about businesses in Hong Kong experiencing difficulties in opening and maintaining bank accounts. We worked with the Hong Kong Monetary Authority and leading banks in Hong Kong to tackle this very important issue. Since then, after speaking with banks and regulators, HKMA issued guidelines for financial institutions to follow. Banks have increased their transparency, and also hired more staff to help their new and existing customers through the cumbersome regulatory compliance procedures. While a lot of progress has been made, we are still hearing that some companies continue to have difficulties.

To enable the HKGCC to obtain a clearer understand of the issues, we are conducting another survey, which you can find here. Please let us know by 28 February 2017 of your, or your clients, experience in applying for or maintaining a business bank account. We will use this information to address the problems that businesses are facing. All responses in this mini survey are anonymous. 
 

TAKE OUR SURVEY

Best regards,


Shirley Yuen
CEO

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