3 ms·
It's not as bad as Hong Kong. I had to visit seventeen (17) banks and spend over USD$10,000 to get a bank account for our company over the last 1.5 years. I did
by contingencies 9y ago
It's not as bad as Hong Kong. I had to visit seventeen (17) banks and spend over USD$10,000 to get a bank account for our company over the last 1.5 years. I did everything from opening accounts in the same banking groups overseas to renting needless physical offices. None of it helped. Finally I got accepted by a startup bank with a special KYC process approved by the HKMA. Hong Kong accountants and other professional services firms privately report that their business is down immensely. It's the US' fault and they've announced in The Banker a month or two ago that they're preparing to roll back pressure, but the damage has been done.