Turnerlittle unable to open decent bank account for HK company

black2 · 2020-02-17T17:01:03+00:00

Hello everyone, After countless hours of research, I was confident that I should get professionals to help me set it up, so after a few emails with Turnerlittle I paid for; Hong Kong Offshore Company Formation Nominee Director Nominee Shareholder Bank Account Application Merchant account Totalling: Â£4784 The company was incorporated in just a few days after payment, however, bank account opening has taken about 3 months now; They initially sold me on Switzerland bank, however, they rejected and Turnerlittle proposed ABC bank in Mauritius(rejected) and Euro Deniz IBU. Both of them gave little confidence, I then asked for other options which where EMI's - TransferWise and Revolut - Both Rejected. I once again asked for tier 1 banks in EU, EEA, US, CA and it turns out that none of the EU banks are able to open an account with a company that does not have business premises in HK. Once again the best option they have is Euro Deniz IBU which still seems like a low tier bank compared to what I asked for from the start. It seems like Turnerlittle doesn't have any other option for HK company except for Euro Deniz. I don't see why I should settle for this "shady" bank when we are a low-risk business (digital marketing) and not trying to skip on taxes etc. Not to mention their fees. What would you do in my situation? At this time it seems like if I do not agree to open an account with EuroDeniz I will be stuck with HK company and no Bank account or merchant account - useless company. I would really appreciate any tips on what to do at this point! Thank you!

black217 Feb 2020

replies: 40
views: 1.1K

onemansomewhereActive Recruit

Joined: Apr 2020
Messages: 269

2 May 2020#41

CaLViN said:
I am in the same situation.
We have also founded a HK company without a nominee director.
It has already been 1 year but no bank accounts yet.They dont have a proper solution.I dont think they will be able to achieve it either.
They have many years in business but no working solutions.
I think we have lost 5k GBP so far for a useless HK company.
So sad but true.

There is a way how to open a HK bank account for a HK company.. You just need to know what you are doing.. The most of OSP are resellers of somebody else service only. The most of them are not a lawyers. I wrote an article how to have account openned..

Turnerlittle unable to open decent bank account for HK company

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