Welcome everyone to episode 37 of Global From Asia! middle of June here and father’s day just passed. A special one for me as its the first time I’m a father on this special holiday. And gave my dad a long distance call – for all those global business owners like me – I know one of the hardest sacrifices is being away from friends and family! But the amazing benefits and experiences of international business is an amazing upside as well.
So now for this week’s show – I just had a friend Jack ask me about receiving money in Asia. where to have a bank account, does he need a bank account, etc. and that fits in perfectly for this week’s show.
It is a hairy thing. Living outside of your home country, in a country that may not be as easy, transparent, or just culturally different is difficult and confusing. Today’s show we have Chris Moore, a buddy I met on Dynamite circle and moved to Shenzhen, China about 6 months ago, discusses his process of getting a personal bank account setup in HSBC Hong Kong. It was funny because he thought this topic would be too short to make a full podcast, but when you get into the nitty gritty, there is a lot to discuss
Hope this helps make people a bit more confident about things and not so nervous so let’s listen up!
Topics Covered in this Episode
- introduce Chris Moore
- why did you want to open a HSBC Hong Kong bank account?
- You’re not normally in Hong Kong, maybe share why you still want the account to our listeners
- did you book appointment at HSBC?
- how did you choose which bank location to go to?
- personal or business account
- what is the type of bank account, premier right?
- why did you choose that banking plan?
- you’re a US citizen, did bank care you had US passport?
- reporting or declaring to US IRS?
- what documents did you need, proof of address examples.
- how long did the process take
- did you get ATM card? Debit card?
- What address did you give them?
- Will the card work in China, and overseas as an ATM?
- what are the fees? monthly fee, annual fee? ATM withdrawal fee?
- What currency can you use to take out cash?
- What is the exchange rate when you take out foreign currency from the bank?
- Ways to reach out to Christopher Moore
People / Companies / Resources Mentioned in this Episode
- Dynamitecircle mastermind group
- chris gormley the man for HSBC premiere hookups
- HSBC Premiere Account
- Andrew Leyden talking about Fbar and US tax reporting on episode 7
- Contacting Chris via Linkedin profile
Episode Length: 23:31
Thanks for that Chris – It’s been a lot of fun to watch his progress getting setup in China and figuring out the best ways for him to do his global business. Step by step, we can all make it happen.
I am also getting questions of differences using a Hong Kong company or bank account in various countries, or how to balance various bank accounts in different countries and cross border chaos. I’ll work on this – wondering who is the best type of person to interview.
And of course I’m open to suggestions from anyone on shows and topics to discuss.
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