Registration of Overseas Company & Account Opening Services-Gain Source Inc Limited

Registration of Overseas Company & Account Opening Services

We provide registration service for HK, Chinese and global trademark as well as assisting the companies to deal with tax declaration items, etc.
The companies registered as strategy consultation service company by us have exceeded 150 (different types of business).

including:
• Domestic representative offices of Foreign company
• Limited liability company
• Catering industry
• Retail industry
• Factory and manufacturing industry
• Trademark registration for China and foreign countries
• BIV registration and strategies
• Strategies for overseas financing and investment, citizenship

• Overseas personal 、 company bank account (opening) services

Company Formation Requirements
1. Proposed Name of Company (if name is not an English word or if it is an acronym an explanation/meaning is required)
2. Nature of business of company
3. Name, Address, Nationality, DOB and Profession of ALL Directors
4. Authorized Share Capital
5. Par value per share
6. Name, Address, Nationality, DOB and Profession of ALL Shareholders
7. Share allocation for ALL Shareholders

Documents Required
The following documents are required for all Directors, Shareholders & Secretary:-
1. government-issued picture ids
2. proof of address – i.e. utility bill or bank statement
3. bank reference letter
4. professional reference letter

Government Issued picture ID's

A certified or notarized copy of the identification page of a valid passport (The certification should state that "Having seen the individual and the identification document at the same time, I certify that this is a true copy and the photograph is a reasonable likeness).

Where the proposed director or shareholder or officer is a company, the following will need to be provided:
1. A certified or notarized copy of the Certificate of Incorporation or other equivalent governing constitution;
2. A certified or notarized copy of the Memorandum and Articles of Association or equivalent governing
Constitution;
3. An authorized signatory listing (bearing specimen signatures);
4. Copies of powers of attorney or other authorities given by the directors in relation to the company;
5. An original Certificate of Good Standing;
6. Certified or notarized copies of the Registers of Directors, Shareholders, Beneficial Owners and Officers;
7. Company resolution with regards to the opening of any bank accounts,

PROOF OF ADDRESS
A certified/notarized copy or an original of a utility bill, bank statement or credit/debit card statement
Addressed to the respective individual at the mailing address given.

BANK & PROFESSIONAL REFERENCE
An original reference from a banker or professional (e.g. accountant or lawyer), (The reference must state the length of the relationship with the bank or professional and that from personal knowledge or enquiries, the individual, is a suitable person with whom to do business. Such relationship must have existed for a minimum of one (1) year. References provided should be current, i.e. not older than one month and should be addressed to Ms. Leah Crag-Chaderton.

CLIENT INFORMATION FORM

The following information is required in order to incorporate companies and to provide registered office and agent services in St. Kitts for the purpose of this form "Relevant Individual" shall mean the beneficial owner of the company and any other person with principle control over the company's assets i.e. principal or shadow directors together with those giving instructions to Leah Chaderton. Each Relevant Individual must complete a separate information form. The "Company" shall mean the company to be incorporated by Law Office of Leah Crag-Chaderton. Guidance notes are also contained herein to assist you with the completion of this form.

SECTION A - CONTACT INFORMATION
Name

Date Birth

Residential Address
Town

Country

Postal Code
Phone

Fax
Email
Nationality

Occupation

SECTION B - BACKGROUND INFORMATION

1. Pleas provide a Certified Copy of The passport of the relevant Individual, Including a clear Photograph. (Please refer to guidance notes.)
2. Please provide/attach a "Proof of Address" for the relevant Individual. Please refer to guidance notes.)
3. Please provide below the contact of the professional organization that has provided the Relevant Individual with legal/tax advice.

Name of Professional Organization

Address
Phone
Email
Name of Contact Person

4. Please Detail below how you were referred to the Law Office of Leah Crag-Chaderton.

______________________________________________________________________________

SECTION C - PURPOSE OF THE COMPANY /SOURCE ASSETS

Name of the company
___________________________________________________________________________________
Please indicate the purpose for which the company is required. (Provide full details – "holding company" is not sufficient.)
___________________________________________________________________________________________________

___________________________________________________________________________________________________

Please describe/identify the assets that will be held by the company.
____________________________________________________________________________________________________ ____________________________________________________________________________________________________
From what source or sources have the assets/funds to be introduced into the company been derived? (How did you acquire the assets that will be held by the company? The description must be clear and self- explanatory. Explanations such as "inheritance" or "sale of property" are not sufficient and require further explanation.)
_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

Section D - Director Information
Name

Date Birth
Residential Address
Town

Country

Postal Code
Phone

Fax
Email
Nationality

Occupation

Share Holders Information
Name

Date Birth
Residential Address
Town

Country

Postal Code

Phone

Fax
Email
Nationality

Occupation

Company Shares

Authorized Share Capital for Company:

Per Value:

Registered Address for the Company:

Company Secretary Information
Name

Date Birth
Residential Address
Town

Country

Postal Code
Phone

Fax

Email
Nationality

Occupation

DECLARATION

We declare and affirm that the information provided herein is true and correct and the assets to be introduced into the Company to be incorporated are from lawful sources and not deemed to be illegal or immoral either in the country of origin or in the country/countries of residence of the Relevant Individual. If requested to do so, we will provide with any further evidence of the verification of the identity or activities of the Relevant Individual and will promptly inform of any changes in the shareholding, directors, officers or beneficial ownership of the Company.

Completed by
Name Title

Signature___________________

Overseas companies and personal bank account opening (undertaking) services:

Documents required for Bank Account Opening:

By Applicants - all shareholder

1. Passport (If you have a working/ Business visa in china or any other countries, Pls provide

2. If you have any alien permit . Pls provide

3. Utility bill/ Address proof (Water, electricity, telephone bills or bank statement)

4. Personal bank statement (3 months or more)

5. Personal CV

6. Diploma, special skills certificate, professional certificate, awards, etc. (If any)

Documents required for overseas (including China) company reference:

1.Company's licence

2.Lease contact

3.Social security certificate(Any proof of social security and employee record)

4.Photos of the office(10 or more) - (if any)

5.Company bank account (3 months or more)

6.Business introduction (company profile) & business proof

7.Taxation record

8.Company websites/ products information/ brochures...etc.

Account Opening Process

1. Account Opening Process

In recent years, the international community has vigorously cracked down on illegal activities such as money laundering, terrorist financing and tax evasion, and various forms of sanctions have prompted banks to generally strengthen relevant control measures, including stricter customer due diligence reviews on existing and new customers. Therefore, compared with five years ago and ten years ago, the current account opening procedure is indeed more complicated, and the time required is longer than before.

In addition to complying with Hong Kong's regulations, some banks also have to comply with the regulations or standards of their headquarters and overseas authorities and have different account opening requirements. Therefore, if you want to open a bank account, you might as well contact several banks to compare and choose the services that suit you.

2. Account opening process

Before providing account services to customers, banks must conduct Customer Due Diligence procedures to understand the background and needs of customers in order to provide banking services suitable for customers. Depending on whether the customer can provide enough information for the bank to conduct due diligence, for a simple case, the bank can complete the account opening process within a few days.

3. required materials

Similar to other financial centres, banks in Hong Kong do not have identical checklist of information required for account opening since individual banks formulate policies in accordance with their own business strategies and risk assessments. Moreover, apart from local requirements, some banks also need to comply with the requirements or standards mandated by their head offices or overseas authorities. The account opening requirements of these banks may therefore vary.

In general, banks may obtain the following information or require the relevant original documents when handling applications of personal or corporate bank accounts:

Identification documents, for example:

- Identity card

- Travel document

Residential address information

- For the avoidance of doubt, a bank may, under certain circumstances, require verification (on top of collection) of residential address from a customer for other purposes (e.g. group requirements, other local or overseas legal and regulatory requirements). In such circumstances, the bank should communicate clearly to the customer the reasons of requiring verification of address.

Please note that the information required for account opening set out above is for reference only. According to the actual circumstances (such as the backgrounds of the applicants, the requested banking services, etc.) and their risk assessments, banks may require applicants to submit other types of or additional information and documentation, for example, information and documents related to Foreign Account Tax Compliance Act (FATCA) and Automatic Exchange of Financial Account Information (AEOI), etc. Customers may contact the banks concerned or visit their websites to check for the required information.

Corporate identification documents, for example:

- Certificate of incorporation

- Report from a company registry

- Certificate of Incumbency;

- Certificate of good standing;

- Record of registration;

- Partnership agreement of deed; or

- Constitutional document

Information of the address of registered office and principal place of business (if different from the address of registered office)

Information of the beneficial owner(s), for example:

- Identification document of the beneficial owner(s)

- Details of the ownership and control structure of the company

Purpose and intended nature of account, for example:

- Purpose of the account

- Expected account activities

- Business nature and mode of operation

Information of the person acting on behalf of the customer, for example:

- Identification document of the person acting on behalf of the customer

- Authorisation document

4. What if the Application is Rejected?

In general, banks should provide reasons for rejecting account opening applications. Moreover, banks have established Review Mechanism for unsuccessful applications. The rejected applicants can ask the banks concerned to re-examine their account opening applications.

Go to another bank for account opening. Please refer to contact details of banks.

Contact the HKMA (Email: accountopening@hkma.gov.hk/ Telephone: (852) 2878 1133) to make comments or enquiries.

5. Updating Account Information

According to international standards in AML/CFT, in addition to undertaking customer due diligence (CDD) process when handling account opening applications, banks are required to review and update information on existing customers on a regular basis. The frequency and extent of the reviews will depend on the risk profile of the customers concerned. Therefore, you may receive letters from banks requiring you to update customer information or account activities, even though the bank accounts have been maintained for years. Nevertheless, banks should endeavor to assist customers in the process. If customers have difficulties in meeting the information requests of banks, they can call the banks to discuss.

Up-to-date information not only helps banks to protect customers from the risk of fraud and financial crime, it also enables the banks to better understand the needs of the customers and provide the most suitable services and products.

6. Banks should not …

1. When conducting CDD measures, banks should not make unreasonable requests to their customers that are disproportionate or irrelevant to risk assessment. These may include, for example:

· requiring all directors and beneficial owners of an overseas corporate to be present at account opening;

· mandating that all documents of an overseas corporate are certified by a certifier in Hong Kong;

· requesting a start-up to provide the same degree of detail on its track record, business plan and revenue projections as a long-established company;

· expecting a Hong Kong business registration certificate for all applicants or evidence of a Hong Kong office for all overseas corporates, irrespective of business model or mode of operation;

· requiring voluminous or very detailed information on source of wealth sometimes going back decades irrespective of the risks presented by the relationship or type of service offered (e.g. MPF account, basic banking services with small balances) which is difficult or impossible for the customer to provide; and

· rejecting account opening based on unreasonably high benchmarks such as expected or actual sales turnover.

2. Bank also should not make the purchase of wealth management investment or insurance products or having a large amount of initial deposits as a condition for opening a bank account, or link these activities with the chance of success or processing time of opening of bank accounts.