Hong Kong trading company with settlement accounts
The challenge
The client traded with suppliers in China and buyers in Europe through a company that some partners had stopped accepting payments from. Two deals nearly collapsed. He needed a neutral structure.
What we did
We incorporated a Hong Kong Ltd, opened an account with a Hong Kong bank for incoming EU payments and a second account with a Chinese bank for settlements with factories in yuan. Contracts moved across within a month.
Result
The banking stage worried me most, I expected a refusal because of our counterparty history. The first bank did turn us down, the second approved. EU payments now arrive without delays or questions.