Hong Kong
Why is it so complicated to open a corporate bank account in Hong Kong?
Just got your Certificate of Incorporation and Business Registration Certificate? Congrats, you are now officially able to open a corporate bank account! Unfortunately, this may not be as simple as you might be thinking, particularly if you are not an HK resident

Just got your Certificate of Incorporation and Business Registration Certificate? Congrats, you are now officially able to open a corporate bank account! Unfortunately, this may not be as simple as you might be thinking, particularly if you are not an HK resident
The requirements for opening such an account in Hong Kong differ greatly from those overseas.
Indeed, the Hong Kong Monetary Authority (HKMA), in charge of monetary and banking stability, puts a lot of pressure on banks to avoid issues with money.
Due of course, to the impact such activity could cause on the local economy and worldwide reputation of Hong Kong’s banking system.
That explains why banks are asking so many questions. Regrettably, it also means that if one bank just refused to open an account for your newly incorporated company, the bank right across the street may come to the same conclusion.
However, it is possible to maximize your chances of getting approval by understanding bank expectations and preparing for your meeting with them accordingly. Orbis answers the most commonly asked questions and provides you with a few tips as follows:
A) Who needs to attend the Bank meeting?
- At least 2 directors of the company, if not all, should attend the meeting in person and even every shareholder (or legal representative for a corporate body) for certain banks
China
Hong Kong’s US-Bound Exports to be Labeled ‘Made in China’
Goods produced in Hong Kong and exported to the US must be “marked to indicate that their origin is China”, according to a notice put out by US Customs and Border Protection (CBP) on August 11, 2020.
China
Hong Kong : no journalist in the world is free from China’s violent retribution
The new national security legislation China is imposing on Hong Kong could be used not only against journalists operating in Asia’s main financial hub, but against every journalist in the world says RSF

Reporters Without Borders (RSF) urges democracies to do everything in their power to compel Beijing to withdraw the law that allows it to charge any journalist writing on Hong Kong of endangering national security, an accusation that could result in life imprisonment or even the death penalty if tried in China.
(more…)Hong Kong
National security law for Hong Kong risks turning city into police state
China’s national security law for Hong Kong will put everybody in the city at risk of arbitrary detention and unfair trial unless underpinned by measures to guarantee protection of human rights, Amnesty International said today

China’s national security law for Hong Kong will put everybody in the city at risk of arbitrary detention and unfair trial unless underpinned by measures to guarantee protection of human rights, Amnesty International said today as Beijing lawmakers prepare to adopt the dangerous legislation.
(more…)-
Economics7 hours ago
Thai economy to grow 4% in 2021 following 6.5% decline in 2020
-
Forex3 days ago
Leverage from Forex Brokers & How Beginners Can Benefit from It
-
Tourism1 week ago
Wish you were here: how the pandemic harmed tourism-dependent economies
-
Economics1 week ago
COVID-19 brings first consumer confidence drop in 3 months