In the globalizing world conditions, besides traveling abroad, doing business abroad has become much easier. Therefore, you may need to open a bank account from abroad. In this article, we will tell you how to open a bank in Hong Kong from Norway. It is both possible and very easy nowadays to open an account in Norway without going to Hong Kong. Thanks to the Hong Kong bank account, which provides great convenience for travels or business from Norway, you can perform many of your transactions in accordance with the procedures. You can find answers to questions such as can Norwegian citizens open an account in Hong Kong, the documents required to open an account in Hong Kong, what are the advantages and disadvantages, will there be any problems if you are not a Hong Kong citizen, can an online account be opened and is it safe?
Can Norwegian Citizens Have an Account in Hong Kong?
It is possible to complete account opening transactions from Hong Kong banks very quickly and easily. Norwegian citizens are also allowed to open a bank account without facing major procedures. You can open an account in Hong Kong as a Norwegian citizen, not only in your country of residence but wherever you are in the world. In other words, living in China, the USA or the heart of Europe and being a Norwegian citizen does not prevent you from having these accounts.
What Documents Are Required to Open an Account in Hong Kong Banks from Norway?
It is possible to mention some basic documents required to open an account in Hong Kong banks. Although there are extra documents that banks may request under their own procedures, you can find the list of generally required documents below:
– Passport of the person you want to open a bank account with
– The identity card of the person you want to open a bank account with and its translation into the language of the country where you will open a bank account
– Proof of residence in Norway (must be in the language of the country you want to open an account with)
– Any billing document registered in the name of the person you want to open an account with in Norway
All of these documents are valid for account opening periods, except for the residence permit. If you want to open a bank account in Hong Kong as part of a residence permit, different procedures have to be applied according to the rules of the country and the bank.
What are the Advantages of Opening an Account in Hong Kong?
There are several advantages to opening a bank account in Hong Kong from Norway. Tax regulations will be your biggest advantage when you have a bank account in Hong Kong. In case of any negativity, irregularities will also be reported to your country’s tax administration as a result of the Common Reporting Standard that has come into force worldwide. In addition, it is among the most important advantages that the security and privacy issues of your bank account opened in Hong Kong are strictly controlled. When you need to go to Hong Kong for business, travel or an emergency, you can easily perform all your transactions without being bound by any procedure through the Hong Kong bank you are a customer of.
Are There Any Downsides to Opening an Account in Hong Kong from Norway?
Opening a Hong Kong’d bank account from Norway has its advantages as well as disadvantages. If you are going to actively use your Hong Kong bank account, there may be negative situations as well as advantages. Not all banks in Hong Kong are eligible to transfer funds to other countries’ accounts. Just like in Norway, when you want to transfer money to a bank account in another country, there is a commission fee. The fact that the bank you have opened an account in Hong Kong has a branch in Norway does not mean that you can easily make transactions. Since they have different legal procedures, you may not be able to complete your transactions with facilities such as Norwegian banks, even if there are branches in money transfer or bank transactions.
Is It Safe To Open An Online Bank Account From Hong Kong Banks?
There is no risk in opening a bank account online in Hong Kong from Norway. As fast and easy as it is to open an online account with banks in Norway, the same is true for banks in Hong Kong. Even if you have never been to Hong Kong in your life, you can open an online bank account in a very short time. Immediately after opening your account online, you can take advantage of options such as deposit and withdrawal, payment and shopping. You can follow the current exchange rates very easily with your Hong Kong bank account opened from Norway. In addition, by using both your bank’s mobile application and internet banking, you can perform all the transactions you want wherever you are.