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Do you plan to start a business in China? With SWIFTIBC, you are assured to experience a quick and relaxed business setup process. Our amalgamated services approach lets our clients to begin their company operations with just few easy steps. Having a strong hold in China, we provide company formation in Hong Kong, mainland China and offshore company registry for Chinese and foreign investors.
Due to Hong Kong sharing the same time zone as mainland China and its access to the international banking, the territory is the favored location for establishing accounts in respect of inward investment into China. While previously a fairly straightforward process; banks in Hong Kong now impose a lengthy and detailed application procedure for ALL offshore companies wishing to establish accounts, this is in response to new Anti-Money Laundering and Anti-Terrorism regulations. However, as Hong Kong companies are more reputable and transparent, the requirements to establish an account are more relaxed.
Non-Hong Kong residents can be directors of Hong Kong companies, and can easily establish accounts for their company in Hong Kong, although it may normally require a personal visit by the directors to the bank to do so. The most commonly used local banks are Hong Kong & Shanghai Banking Corporation (HSBC), Standard Chartered and Bank of East Asia although most international banks will permit accounts to be opened for local companies. To service your China entity, funds would normally be channeled into China from this account, which may in turn have been fed by the parent.