We are an international based CPA firm in Hong Kong and United Kingdom, and have experience in offshore field (including offshore incorporation, offshore bank account processes, as well as international tax issues) of over a decade. In 2012, the Hong Kong Government enacted an Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance which restricts the opening of a bank account in Hong Kong by distance and MOST IMPORTANTLY makes it difficult to open a bank account in Hong Kong. Many clients from other countries come to Hong Kong and go to the banks, and many of them GET REJECTED (9 out of 10 clients will get rejected). There are in fact a couple of reasons why. The main reason being, that they chose the professional firms with less experience, and with little help. Basically, when clients go to the bank, the bank manager will go through the database and check, then go through the Question and Answer process (called Q & A) with the clients (which takes approximately 30 minutes). This is the Q & A process which will determine the success or failure of opening a bank account for clients in Hong Kong. It is why many clients get rejected. They failed to follow the Q & A process. The Q & A's are the key questions which mainly come from Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. It is why many professional firms cannot open a Bank account for clients. They have no legal training. They are unable to advise them on how to handle the Q & A process. It is why clients get rejected from the bank, and come to us.
With us, after the formation is done, we will arrange clients to our company FIRST to have Q & A training under a Guarantee Scheme, which are 99% similar to the banks Q & A process required by Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance. After OUR Q & A, clients will go to the bank and process BANK Q & A, then they can open bank accounts easily and quickly. Some clients even get the bank accounts within hours, some within days.
Mr. Stephen Lai
FCCA (A fellow member of the Association of Chartered Certificate Accountants)
HKICPA (A practising member of Hong Kong Institute of Certified Public Accountants)
MBA (Master of Business Administration from Heriot-Watt University, UK)
PDA (Postgraduate Diploma in Business Administration from Heriot-Watt University,UK)
PCA (Postgraduate Certificate in Business Administration from Heriot-Watt University,UK)
LLB (Undergraduate of Law Degree from Nottingham Trent University, UK)