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HSBC Safeguard - Company Account

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  1. #1

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    HSBC Safeguard - Company Account

    Has anyone gone through this recently for a HK registered, HK shareholder, HK director type setup?

    I submitted my docs, got a letter back essentially asking for all of them again, saying nothing was received. (I had actually gone to a nearby branch to submit / certify my personal ID card / proof of address).

    The remaining company docs were sent by courier.

    Also, what is this "incumbency certificate" that they're asking for. Our company sec says its not required for HK companies, but HSBC wants one...

    Going to get on the phone with them tomorrow.

    Or is there someone at the corporate branches who can help with this?

    Any ideas?


  2. #2

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    Where is your company incorporated? If its within my realm you know how to contact me. I can answer the cert of incumbency question for you, but depends on where its incorporated.

    louloute580 likes this.

  3. #3

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    Hong Kong ...

    Co Sec says its required for overseas incorporated (BVI / Liberia etc) and no concept of incumbency cert for HK incorp company.


  4. #4

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    Quote Originally Posted by shri:
    Hong Kong ...

    Co Sec says its required for overseas incorporated (BVI / Liberia etc) and no concept of incumbency cert for HK incorp company.
    Ask the co sec if they issue the following for HK companies:

    - Registered Agent's Certificate
    - Secretary's Certificate
    shri likes this.

  5. #5

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    I honestly gave the co sec the list of documents required - told them, give me the certified copies of documentation you've created for the rest of your clients.

    Sent those to the bank - but they're asking for them again... including articles / NAR1 etc.

    Will have a chat with HSBC and to Co Sec tomorrow.

    I have a very very bad feeling whoever I speak to at HSBC will have no clue what happened to the docs I submitted.

    Fingers crossed...


  6. #6

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    OK, checked with a mate, these certs don't exist for HK cos.


  7. #7

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    Matches what the CO sec said


  8. #8

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    Right , it does exist for Hong Kong register company. You are not the only one having such issue. Seem HSBC does not want new corporate or SME client at all. They have ridiculous request, if client can't provide them , they use this as excuse not to open account. Try SCB...


  9. #9

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    Should we start planning a farewell party for this website?


  10. #10

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    FYI - Quick update.

    It is amazing how blatantly they display their incompetence - no pretences.

    - They did find the documents eventually. "Misfiled" or whatever.. no reason given.
    - Once they found it they did the interview by phone - some pretty weird question .. "why is your company name in all caps on some documents" (does not matter - the names are not unqiuely different) and "why is the name different from our records (because you misspelt it during account setup and I could never convince anyone for 20 years to change it - but you still accept cheques in the correct name).

    That was about 10 days ago. The response to the phone interview was "thank you, we have all the information we need and we'll now submit for compliance approval".

    About 2-3 days ago, the f'ing moronic "computer said this department" sent me a comp generated letter telling me they've not received any of the documents, to resubmit everything otherwise some very specific transaction types will be disabled.

    The sad part is - just have to deal with this. The process of opening a new account with any other bank is probably going to be as bad.


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