Offshore Bank Account with HSBC Bank
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When it comes to the banking sector or the financial market, one of the biggest names to ring out is HSBC. More than 40 million customers from all over the world have an account with the bank. It also has an extensive branch network that covers more than 64 countries and regions.
HSBC Hong Kong was founded back in 1865 and has since then expanded to different regions all across the globe. It offers a wide range of commercial, personal, and corporate banking services to customers residing in the Asian peninsula and beyond.
Having an offshore bank account with HSBC allows individuals and businesses to manage their financial transactions effectively across different regions and maintain a stable banking portfolio. Other main benefits of having such an account include, but are not limited to:
Provides customers with the opportunity to enjoy tax-efficient savings based on the kind of investments they make.
In addition, an offshore HSBC account allows people and businesses to receive, transfer, and hold monies while using different currencies.
The account also gives customers a way of maintaining the same banking portfolio every time they move without changing currencies depending on the region they are working.
The standard documents needed for setting up an offshore HSBC bank account are proof of ID and proof of address. However, this is still subject to local laws, requirements, and regulations of one's country or region, so do not be surprised if you are asked to provide more documentation when trying to set up the account.
In case of any issues with your documentation, one may ring up the HSBC international call center and ask to speak to a representative who can assist with your application.
Currently, one may open an offshore HSBC bank account free of charge. This also includes no annual maintenance costs for the account. However, it is important to point out that these benefits only apply to customers with an existing HSBC Premier Customer account or HSBC Jade account. The bank also waives fees for its clients who apply for offshore bank accounts online.
If one does a phone or staff-assisted offshore bank account opening, certain charges will apply depending on the region. There is also a maintenance fee charged monthly for those accounts that do not meet the eligibility criteria, often determined by their country of residence.
Opening an offshore HSBC bank account can be done in three ways:
Through your local HSBC branch
Online application
At the HSBC branch of your intended destination
It should also be stated that with the current COVID-19 situation, one does not have to physically visit the bank to apply for an offshore HSBC account. Instead, you can submit your request via an online application and liaise with the bank's international call center to process your request. However, you can only do this if you already have an HSBC account in your country or region.
Persons and businesses can open an offshore HSBC account in over 30 countries and regions, which include: Hong Kong SAR, Singapore, Sri Lanka, Saudi Arabia, UAE, Qatar, UK, USA, France, Turkey, Australia, Bahrain, Argentina, Canada, Bermuda, Bangladesh, Egypt, Greece, Macau SAR, Philippines, Taiwan, Mauritius, Mainland China, Jersey, India, New Zealand, Mexico, Oman, Malaysia, Malta, and Vietnam.
When you submit your application to open an offshore account with HSBC to the moment it becomes active, the period is usually 14 days. However, this is provided you submit all the relevant documentation within the same time frame and verify them in person.
If you are a new client to HSBC, you may be required to first open an account in your region or country before the bank can process your application for an offshore account.
When it comes to the banking sector or the financial market, one of the biggest names to ring out is HSBC. More than 40 million customers from all over the world have an account with the bank. It also has an extensive branch network that covers more than 64 countries and regions.
HSBC Hong Kong was founded back in 1865 and has since then expanded to different regions all across the globe. It offers a wide range of commercial, personal, and corporate banking services to customers residing in the Asian peninsula and beyond.
Having an offshore bank account with HSBC allows individuals and businesses to manage their financial transactions effectively across different regions and maintain a stable banking portfolio. Other main benefits of having such an account include, but are not limited to:
Provides customers with the opportunity to enjoy tax-efficient savings based on the kind of investments they make.
In addition, an offshore HSBC account allows people and businesses to receive, transfer, and hold monies while using different currencies.
The account also gives customers a way of maintaining the same banking portfolio every time they move without changing currencies depending on the region they are working.
The standard documents needed for setting up an offshore HSBC bank account are proof of ID and proof of address. However, this is still subject to local laws, requirements, and regulations of one's country or region, so do not be surprised if you are asked to provide more documentation when trying to set up the account.
In case of any issues with your documentation, one may ring up the HSBC international call center and ask to speak to a representative who can assist with your application.
Currently, one may open an offshore HSBC bank account free of charge. This also includes no annual maintenance costs for the account. However, it is important to point out that these benefits only apply to customers with an existing HSBC Premier Customer account or HSBC Jade account. The bank also waives fees for its clients who apply for offshore bank accounts online.
If one does a phone or staff-assisted offshore bank account opening, certain charges will apply depending on the region. There is also a maintenance fee charged monthly for those accounts that do not meet the eligibility criteria, often determined by their country of residence.
Opening an offshore HSBC bank account can be done in three ways:
Through your local HSBC branch
Online application
At the HSBC branch of your intended destination
It should also be stated that with the current COVID-19 situation, one does not have to physically visit the bank to apply for an offshore HSBC account. Instead, you can submit your request via an online application and liaise with the bank's international call center to process your request. However, you can only do this if you already have an HSBC account in your country or region.
Persons and businesses can open an offshore HSBC account in over 30 countries and regions, which include: Hong Kong SAR, Singapore, Sri Lanka, Saudi Arabia, UAE, Qatar, UK, USA, France, Turkey, Australia, Bahrain, Argentina, Canada, Bermuda, Bangladesh, Egypt, Greece, Macau SAR, Philippines, Taiwan, Mauritius, Mainland China, Jersey, India, New Zealand, Mexico, Oman, Malaysia, Malta, and Vietnam.
When you submit your application to open an offshore account with HSBC to the moment it becomes active, the period is usually 14 days. However, this is provided you submit all the relevant documentation within the same time frame and verify them in person.
If you are a new client to HSBC, you may be required to first open an account in your region or country before the bank can process your application for an offshore account.
