Frequently Asked Questions

1. What services do you provide?

We specialize exclusively in bank account opening assistance (corporate and personal) across Hong Kong, Singapore, and offshore jurisdictions. This includes document preparation, bank selection, and application submission—no corporate services or upselling.

2. How long does the process take?

  • Traditional banks: 1 to 1.5 months upon approval

  • Fintech/digital banks: 3–7 business days
    Timelines depend on client responsiveness and bank processing speeds.

3. Do I need to visit the bank in person?

  • Hong Kong: Yes, directors are required to be in person for interview and signing. We’ll prepare you for the interview and accompany you at the bank meeting.

  • Offshore: 100% remote opening

  • Fintech/digital banks: 100% remote opening

4. Do you require any upfront fees?

No upfront fees – Payment is due only after bank pre-approval.

5. What happens if my bank account application is pre-approved but the bank still refuses to open the account? Do you offer a refund?

  • Yes, we offer a 100% money-back guarantee under these conditions:
    1. Pre-approval Obtained: The bank formally pre-approved the application.
    2. Bank-Side Issue: The refusal is due to the bank’s internal policies (e.g., sudden compliance changes, relationship manager discretion).

  • No Refund If:
    1. Client-Side Issue: Missing/inaccurate documents, undisclosed high-risk activities, or failure to respond to bank requests.
    2. Third-Party Fees: Bank charges, due diligence fees, or government costs (non-refundable).

6. How are your fees determined?

Our pricing is tailored to each client’s unique situation, based on:

  • Business Nature

  • Jurisdiction & Nationality

  • Documentation Readiness

  • Account Terms

You’ll receive a fixed-fee quote after our initial assessment, with no hidden charges.

7. What are your payment methods?

  • Bank Transfer - Phare holds a business bank account with HSBC Hong Kong.

  • Paypal– Paypal payments incur a 3.5% handling fee.

8. Can you guarantee approval?

No. While we maximize approval odds through our banking network and compliance expertise, final decisions rest with financial institutions.

9. What documents are required?

Requirements vary by bank/jurisdiction but typically include:

  • Company registration documents

  • Business proof such as recent bank statements, invoices, contracts, bill of lading, etc.

  • Passport and proof of address for directors and shareholders

    We provide a customized checklist after assessing your needs.

10. Do you handle high-risk industries (crypto, trading)?

Yes. We have experience navigating complex cases but advise full transparency about your business activities upfront.

11. How do you protect my data?

All documents are:

  • Stored encrypted

  • Shared only with target banks

  • Deleted after 3 years (per HK PDPO)
    See our Privacy Policy for details.

12. Can you help if my account was rejected?

Yes. We offer:

  • Appeal support (e.g., rebuttal letters)

  • Alternative bank applications (no extra fees if within original scope)