Private Accounts for High-net Worth Clients
There are many perks to having a private bank account in Hong Kong, with secrecy and anonymity being the most sought service. Few were surprised that the so-called Panama Papers came peppered with mentions of Hong Kong as a place where some wealthy individuals, corporations, and world leaders hide their money. From the latest figures available, from 2018, private wealth assets under management in Hong Kong were approximately $1 trillion, with 52% of that coming from outside of Hong Kong.
Renowned tax haven, Switzerland, bowed to pressure from the United States and the European Union to share information about foreign bank accounts and asset owners seeking shelter from taxation. However, Hong Kong refused to do so and was named to the EU’s blacklist of noncooperation tax havens around the world.
Early this year, the Financial Secrecy Index gave Hong Kong a score of 66.38, which is considered a high score and a reflection of the region’s commitment to the privacy of those who keep their money there.
Hong Kong’s favourable tax structure makes it an attractive place for foreigners to deposit their money as well as a place for corporations to do business. The tax structure and Hong Kong’s ongoing dedication to preserving secrecy for investors have contributed to it becoming a popular tax haven that has helped establish it as one of the world’s premier financial hubs.
Hong Kong is one of the world’s fastest growing secrecy jurisdictions and tax havens today. Its fund management industry had $3.1 trillion under management as of 2018; and $973 billion in private banking assets. It has the third largest stock exchange in Asia after Tokyo and Shanghai; it ranks second after New York for proceeds of initial public offerings, and hosts a wide range of financial services players. In 2018 it had the world’s second-highest density of Ultra High Net Worth Individuals with personal wealth over $30 million, at 136 per 100,000 adults. On paper, Hong Kong accounted for two-thirds of all foreign investment into China as of 2019, according to the Ministry of Commerce.
At Rancvist Bank we have structured
our private bank accounts in a unique way in order to bypass even the most stringent pressure from any organisation into releasing sensitive information to any authority or government body.
with a Privat Account at Rancvist Bank comes many features such as
Customizable name of account holder
- Privat Multicurrency account
- Numberless accounts
- Fee free incoming/outgoing wires
- Zero yearly maintenance fees
- SEPA, SWIFT & Faster Payments capabilities
- Instant withdrawals
- Private One-time use accounts for incoming funds
In order to be eligible for a Private Bank Account with us, you will need;
If you meet the eligibility criteria set out above, and wish to have a Private Account with us then click on the button below.
Rancvist Bank, Online Business Banking Specially Tailored For Your Needs
Applying for a business account is as simple as 1,2,3
Enter your personal info
Complete application form with your personal information
Attach your proof of ID and address
Passport, License, Utility Bills, etc
Account approved in 2 days
Receive approval within 48 hours of submitting your application.