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Authorization Letter For Bank Account Opening for Hong Kong

Authorization Letter For Bank Account Opening Template for Hong Kong

A formal authorization document governed by Hong Kong law that grants specific powers to a designated individual to open and manage bank accounts on behalf of the authorizer. The document complies with Hong Kong Banking Ordinance requirements and includes necessary provisions for anti-money laundering compliance. It serves as a legal instrument recognized by Hong Kong banks and financial institutions, incorporating all essential elements required under Hong Kong's banking regulations and common law principles for valid authorization.

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Authorization Letter For Bank Account Opening

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What is a Authorization Letter For Bank Account Opening?

The Authorization Letter For Bank Account Opening is a fundamental document used in Hong Kong's banking sector when an individual or entity needs to delegate the authority to open and manage bank accounts to another person. This document is particularly relevant when business owners, overseas clients, or corporate entities cannot personally attend to bank account opening procedures. It must comply with Hong Kong Banking Ordinance requirements, anti-money laundering regulations, and the Hong Kong Monetary Authority's guidelines. The letter typically includes detailed information about both parties, specific powers granted, duration of authority, and any limitations on the authorization. It's commonly used in international business contexts, corporate restructuring, and situations where physical presence of the account holder is impractical.

What sections should be included in a Authorization Letter For Bank Account Opening?

1. Letter Date and Location: Current date and place of execution of the authorization letter

2. Bank Details: Full name and address of the target bank

3. Subject Line: Clear indication that this is an Authorization Letter for Bank Account Opening

4. Authorizer Information: Full name, identification details, and contact information of the person giving the authorization

5. Authorized Person Information: Full name, identification details, and contact information of the person being authorized

6. Authorization Scope: Specific powers being granted regarding the bank account opening process

7. Account Details: Type of account to be opened and any specific requirements

8. Duration of Authorization: Validity period of the authorization

9. Declaration of Free Will: Statement confirming the authorization is given freely and under no duress

10. Signature Block: Space for authorizer's signature, name, and date

What sections are optional to include in a Authorization Letter For Bank Account Opening?

1. Witness Section: Section for witness details and signature, required if bank policy or local regulations mandate witness verification

2. Specimen Signature: Additional section showing specimen signature of the authorized person, if required by the bank

3. Special Instructions: Any specific limitations or special instructions regarding the authorization

4. Language Declaration: Required if the letter is bilingual or if the authorizer is signing a document in a language they may not fully understand

5. Revocation Clause: Specific conditions under which the authorization may be revoked before its expiry

What schedules should be included in a Authorization Letter For Bank Account Opening?

1. Appendix A - Identity Documents: Copies of identification documents of both authorizer and authorized person

2. Appendix B - Proof of Address: Recent proof of address documents for both parties if required by the bank

3. Appendix C - Company Documents: If authorization is for corporate account opening, relevant company registration documents

4. Appendix D - Bank Forms: Any specific bank forms that need to be attached to the authorization letter

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Authorization Form

Cost

Free to use
Relevant legal definitions




















Clauses



















Relevant Industries

Banking and Financial Services

Corporate Services

Legal Services

Business Process Outsourcing

Financial Technology

Professional Services

International Trade

Retail Banking

Corporate Banking

Investment Banking

Small and Medium Enterprises

Relevant Teams

Legal

Compliance

Corporate Banking

Retail Banking

Operations

Customer Service

Risk Management

Administration

Corporate Secretarial

Account Opening

Client Relations

Documentation

Relevant Roles

Banking Relationship Manager

Compliance Officer

Legal Counsel

Corporate Secretary

Account Opening Officer

Business Development Manager

Financial Controller

Chief Financial Officer

Company Director

Operations Manager

Risk Management Officer

Customer Service Manager

Branch Manager

Corporate Banking Officer

Administrative Executive

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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