BC Partners Consulting Limited

Hong Kong has long term been a hotbed for businessmen with budding business ideas. Incorporation in Hong Kong is quick and easy.   Since 2016, HSBC Hong Kong first gradually tightened its commercial account opening requirement, Hang Seng Hong Kong follows. Recently a lot of expats stuck in the corporate bank account opening in Hong Kong after company incorporation. Information or comments about the difficulties of opening a bank account in Hong Kong is everywhere.   Based on the cases and experience, we compare and see there are 4 Steps to get a guaranteed HK Corporate Bank Account Even as a Startup:   First, Get a Basic Understanding of Hong Kong Bank’s KYC “Know Your Customer Policy” & Anti-money Laundry Policy For expats, they can walk into a random branch in their country and get a clear guidance by the bank mangers there. Within a week, they will get a functional bank account without any abundant supporting documentation or detailed explanation. Well, this is not...

China's social security law was promulgated by the central government but its administration and specific details are governed by local authorities. It is paid by both employer and employee, and the levels of this payment to the social insurance agencies are connected directly to the employee's salary. It can be complicated as there is not one steadfast rule for the country. Instead it is governed at a regional level, so depending where your company is based in China you will have differing responsibilities as an employer.  China social insurance not only needs to be set up, but also paid monthly, it may be easier to outsource this task to the local experts at Business China. China's new Social Insurance Law, which took effect on July 1, 2011, established the first national, basic social insurance framework for employees across mainland China. The law requires that all employers in China enroll each employee in five insurance programs, plus one mandatory housing ...