Hong Kong

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Hong Kong

Location: South coast of China

Capital: Hong Kong

Population (2018): 7,448,900

Status: Special Administrative Region of China; founding member of APEC; GATT member since 1986, WTO member since 1995; and many others ASEAN, IMCO, ICFTU, IMF.

Currency: HKD (Hong Kong dollar)

Official languages: Chinese, English

Deposit guarantee: N/A

Did you know?

Hong Kong means in Cantonese Flagrance harbor.

There are more Rolls Royces per person in Hong Kong than any other city in the world.

Ranked 5th in the World Bankʼs doing business ranking for 2018.

Hong Kong International Airport is the same size as 20 soccer fields.

A famous Hong Kong landmark, the bronze Big Buddha located on Lantau Island is one of the world’s largest seated Buddhas and is 34 metres high.

Hong Kong is a Special Administrative Region located to the east of the Pearl River estuary on the south coast of China and consists of Hong Kong Island, Kowloon, the New Territories, and several other smaller islands spread over 1,092 square kilometers.
A former British Colony now part of the Republic of China, Hong Kong is considered one of the worlds major international centre for business.
It became part of China on the 1st of July 1997 but has retained its own legal system. The legal system in Hong Kong is, unsurprisingly, based on the British system with the official languages being English and Chinese.
Hong Kong has many benefits for doing business and some of these are: acces to mainland China market, advanced economy with one of the highest GDPs in the world, territoral tax principle application, English is one of the official languages, high qualified human resources, excellent banking system and communication infrastructure.
The banking system in Hong Kong is characterized by a three-tier system of deposit-taking institutions, namely, licensed banks, restricted licence banks, deposit-taking companies, all known as authorized institutions.
Hong Kong has one of the highest concentration of banking institutions in the world. Seventy of the largest 100 banks in the world have an operation in Hong Kong.

Key features

Muticurrency accounts

Physical presence for identification is required

Minimum balance and turnover requirements

Low fees for inwards/outwards

VISA debit cards

Private banking and wealth management services

24 hours English Customer Service

24 hours Currency exchange

Remote Internet Banking from any country.