China, Hong Kong and diversification of banking risks

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CHINA-OLIESERVE

Banking system and its implicit threats

Nowadays the government of your country knows everything about your money. It is not difficult for them to check you and get all the information about you using and analyzing your taxpayer identification number, national insurance number, mobile number, internet accounts and credit card transactions.

Moreover, in case all your finances are gathered in one country, you are always at risk of the actions of the government as they can freeze or seize your capital assets, bank accounts and investments for some reasons.

Let’s be down-to-earth to agree that we have already witnessed several banking crisis in various economies.

Opening bank accounts in China and Hong Kong as guaranty of capital safety

Banking structure is fragile and its sustainability depends on several external factors.

That is why more businessmen are choosing financial solvency rather than waiting and fear of losing everything. Experienced entrepreneurs apply the rule “not to keep all the eggs in one basket” and transfer their money to different reliable international banks.

Hong Kong and China have recently gained and absolutely deserved favor.

Contrary to common belief, China is a very convenient country to visit in terms of logistics and visas.

Meanwhile, the procedure of setting up a bank account in Hong Kong is easy and it does not require much time or a thick package of documents. In addition, clients get an opportunity to open an account at bank counterparty of China, in Hong Kong and vice versa.

Holding an account in Chinese bank in Hong Kong is supportive in case you want to set up an account in the same bank in China.

Diversification of risks connected to European monetary system and legal regulations comes to naught if you open accounts in banks that have headquarters in China and Hong Kong restricted to these two jurisdictions. Moreover, having set up an account in Hong Kong or China, a client gets access to China UnionPay which is a Chinese transfer processing system used as an alternative to Visa and MasterCard. Being a payment system based in China, China UnionPay offers a processing system of credit and debit cards which cannot be frozen in other countries. In other words, a client can use China UnionPay to diversify risks connected to laws and statuary instruments of other countries.

The list of the most successful and reliable banks in described direction:
1. Bank of China;
2. Agricultural Bank of China;
3. China Construction Bank;
4. China Citic Bank;
5. OCBC Wing Hang;
6. DBS Bank;
7. Hang Seng Bank;
8. Bank of Communications;
9. ICBC;
10. HSBC.

Despite the fact, that investment is often connected to some risks; wise application of modern facilities allows businessmen to level down these risks in a legal and transparent way.

Contact the specialists of OLIESERVE and we will be happy to provide you with all the required information about opening bank accounts and business incorporation in Hong Kong.

OLIESERVE offers an exceptional level of modern service and creative solution for routine tasks!