What problems are companies encountering when applying to open a bank account in Hong Kong?

Companies applying to open bank account in Hong Kong may encounter several problems, including strict compliance regulations, increased due diligence requirements, and a lack of transparency from some banks. Additionally, the recent political and economic instability in Hong Kong has caused some banks to become more cautious when onboarding new customers. Some companies may also struggle to meet the minimum deposit and balance requirements for certain accounts, especially if they are newly established or have limited funds. These challenges can make the process of opening a business account HK more complex and time-consuming.

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