CMB Wing Lung Bank is one of Hong Kong’s oldest and most prestigious banks, as well as a subsidiary of China Merchants Bank, a large financial company.
A bank has more than 50 branches in Macau, Hong Kong and mainland China, as well as 2 branches in Los Angeles and the Cayman Islands. A staff is more than 1,750 people, and a volume of assets exceeding 200 billion HKD.
Opening an account with CMB Wing Lung Bank will be a good solution for entrepreneurs, who want to establish a business in East Asia.
Bank overview
Opening an account with CMB Wing Lung Bank will be beneficial for the following reasons:
- More than 85 years of stable operation;
- It obtained a license in Hong Kong;
- Types of services: comprehensive services, including deposits, loans, insurance, investments, currency exchange, credit cards and asset management;
- It is one of the 3 banking institutions of the ATS, authorized to issue banknotes;
- Opening an account with CMB Wing Lung Bank is possible both for a resident and a non-resident;
- Advanced Internet and telephone banking;
- A modern data protection system.
- A bank does not present excessive requirements for additional documents;
- A bank has an English-speaking staff.
IT IS IMPORTANT:
- Opening an account for an individual with Wing Lung Bank is possible only with a personal visit of the director/shareholder to Hong Kong (if there is an active deposit opened in his name);
- A corporate account can only be opened for Hong Kong companies (including those, who have a registered office in Hong Kong).
Tariffs
If you want to open an account for a company with a bank in Hong Kong, we recommend you familiarizing yourself with the tariffs of this institution:
- Outgoing payments:
- Via RTGS - transfer HKD/USD/RMB/EUR - 6 EUR;
- Via SWIFT - 13 EUR.
- Incoming payments:
- Via RTGS (CHATS) - 2 EUR;
- Via SWIFT - 6 EUR.
- A monthly maintenance fee is 24 EUR, if the total account balance is 50,000 HKD (5,800 EUR).
It is important to consider
Deciding to open a corporate account with CMB Wing Lung Bank, pay attention to the following:
- A fee for opening an account is 230 EUR;
- A cost of a qualified support in opening an account with CMB Wing Lung Bank is 7 500 EUR;
- Terms of consideration of the application by the bank are 3 weeks;
- A client must personally visit the bank to open an account.
YB Case specialists will provide you with all necessary support services in opening an account with a Hong Kong bank, as well as advise you in detail in resolving related issues, such as: registering a company in Hong Kong, obtaining a business license in China.
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