Hong Kong is a great place to start a business, especially because of its favorable tax code. Yet sometimes there are troubles with maintaining a Hong Kong Company. The sudden closure of your bank account is one of them, as every bank has their own policy and timeline, it can be quite bothersome to deal with this problem.
There are up to half of all businesses turned down for bank accounts. What can business owners do to save their company this situation?
At Centre O, we will first investigate why the account is closed down. It is necessary to see whether the bank has specific reasons when making such decisions. If it is actually issues created from our clients, we will be the intermediate in between to liaise and try to fix the problem.
Next, we will determine clients’ urgency in opening a new bank account.
Finally, we will suggest the way to handle the problem by getting a new bank account to ensure the least disruption to the business.
Losing your bank account can be harmful to your business, so please handle it carefully and clearly. Here I would like to provide you with one more business tip: Always open more than one business and personal bank account at different banks, it is always good to have a backup plan. =)
Good luck entrepreneurs! Centre O is always here to help, please contact us at email@example.com to see how we can assist you.