Incorporate in Hong Kong, name that cheques get made out to

#1

I currently have a log of cheques form clients written to my name.

I’m not yet setup as a corporation in Hong Kong, but am thinking about doing so. Will I be able to deposit these cheques from my name into my business bank account?

Also, I wish to continue to receive cheques to my name. Will I be able to deposit them into my business based in Hong Kong?

#2

Unfortunately not. You won’t be able to deposit cheques that are made to your name to a company bank account. You are right to choose Hong Kong to set up your company as I do think it is the best city to incorporate businesses. But please do work with a professional corporate services provider for the company incorporation and management going forward as this means significant operational efficiencies and costs savings. Besides, this provider should also be experienced in facilitating the company bank account application as it is getting increasingly difficult to open bank accounts nowadays. You might also consider opening a personal bank account in HK so that you can deposit cheques that are made to your name.

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#3

Here are my thoughts on Hong Kong companies: http://ustax.bz/want-to-form-a-hong-kong-company-read-this-first/

#4

As others have replied, no, that’s not possible. What I would recommend, with precaution, is that you ask your clients to write out the cheques to “Cash” meaning anybody who holds the cheque can cash it in, if you really need to deposit the money directly from cheque to your company account and you don’t know what will be the full name of your business.

Another option would be once your money is in your account, simply withdraw the money from your personal account and deposit to the company account, or do a wire transfer, which should be fast if both your personal and company accounts are with the same bank.

Hope this helps!