展群CK ® understands the high level of difficulty of opening commercial bank accounts by company owners.

 

In order to save time in waiting for the opening of bank accounts and avoid any time-consuming issues, some company owners may use their own personal bank accounts for business activities.

 

Yet, their personal bank accounts will generally be canceled when the bank discovers that the accounts are used for commercial purposes. Furthermore, the bank will not provide any services for these clients, including credit card services, mortgage loans, tax credits, and e-Wallet.

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If company owners use their personal bank accounts for business activities for a long period of time, and being discovered by the Inland Revenue Department of any understated company revenue, the business is likely to undergo tax investigation. This will generate substantial financial and psychological burden for owners.

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In order to avoid the aforementioned issues, 展群CK ® provides services in assisting the application of opening commercial bank accounts. We will pre-review the relevant application documents and follow up the entire application process and progress, which will lead to a smoother application process with a higher chance of success.

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Generally, the application process of opening commercial bank accounts is complicated, with the need to provide a large amount of documents and information to the bank. It generally takes three to six months for the bank to review.

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With a view to reducing start-up owners’ pressure, and speeding up the process, 展群CK ® will understand the nature and business operation of each applicant’s company industry so as to recommend the most suitable bank for them. Besides, we will provide the bank with the basic required documents according to each applicant’s company industry.

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In general, most customers will be able to open a commercial bank account, collect ATM cards, and receive tokens for online login in two weeks’ time.

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Documents required to open commercial bank accounts :

• Certificate of Incorporation

• Business Registration Certificate

• Articles of Association

• Incorporation form (NNC1)

• Annual return (NAR1)

• Identification documents (HKID / Passport) of shareholders, directors, ultimate owners, and authorized signers, and their residential address proof (issued within 3 months)

• Company chart

• Business proof (e.g. orders, sale and purchase invoices, contracts, delivery notes)

• Audited reports

• Source of fund proof

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展群CK ® referral services for opening commercial bank accounts include :

• Pre-review the documents required to open commercial bank accounts

• Assess the likelihood of successfully opening commercial bank accounts

• Liaise and coordinate with the bank with regard to the opening of commercial bank accounts

• Schedule the date and time of the meeting between clients and the bank