In the past, only Hong Kong companies were audited annually, and the bank accounts of Hong Kong companies were rarely audited annually. However, with the tightening of the regulatory policy of financial institutions, more and more banks required customers to do annual audits, by providing the new business registration certificate and other required documents to the bank, so as to prepare for updating the information retained by customers in the bank.

If the customer fails to provide the new business registration certificate and other required documents on time, the bank will first issue a notice of delayed submission of documents, requiring the documents required by the bank to be provided as soon as possible. However, if the customer fails to provide the documents, the bank will further freeze the bank account of the customer and unfreeze it only when the customer provides the documents required for improvement.

Therefore, the client Hong Kong company should pay attention to submit documents to the bank for annual audit on time in addition to annual inspection, otherwise the bank account will be frozen. Some bank account managers may take the initiative to notify, while some banks will not. If there is no notification, customers should pay more attention to the mailbox left by the bank when opening the account, so as to avoid missing the time to submit documents and causing the bank account to be frozen.

CycloseFocusing on providing company audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.