Keep reading the below text lines will help you to get a better understanding of each factor! How can your nationality affect your application? Well, just from my point of view and through hundreds of cases I have worked on with my clients in BBCIncorp who shared the similar purpose as yours, people can be denied access to a bank account setup with a Hong Kong local bank like DBS, HSBC, OCBC Wing Hang, etc., due to three main causes: I do not have the statistics on how many cases had been refused by Hong Kong banks, but for sure, that is not a low number on a yearly basis. Evidentially, in-person interviews and especially the due diligence process have been typical requirements that cause a challenge and a bit of inconvenience for non-residents like you. I have worked closely with many of our banking partners in Hong Kong, and I know that Hong Kong banks implement a fairly stringent examination and inspection of clients’ applications. Unfortunately, opening a bank account in Hong Kong is not that easy. Many of my clients like to store their assets in Hong Kong banks as they can offer better asset protection, while others expect to have a bank account to seek more trading opportunities. There are many reasons why people often show a marked bias in favor of Hong Kong, key of which I’m sure you know that Hong Kong is among the largest financial offshore hubs in the world. Are you intending to open a bank account in Hong Kong but still wondered about the high possibility of rejection that usually occurs? Below is the sharing of Sheryl, Relationship Manager from BBCIncorp, on why this might happen! Some challenges when opening a bank account in Hong Kong
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