Many accounts have been frozen, and the root cause is always the same: KYC information was not updated in a timely manner.

KYC (Know Your Customer) is a periodic verification process that banks conduct for all account holders. It is not a one-time review, but an ongoing process—once an account is opened, the bank will require you to resubmit the necessary information annually.

If you miss just one payment, your account may be suspended.

💡 If you're preparing for a KYC update and aren't sure if your documents are complete, feel free to add us on WeChat. qcygscszk or call 18676749275, text 【KYC】 and we’ll provide you with a complete checklist of required documents for free and help you prepare and submit them.

01 When Banks Require KYC Updates

02 6 Documents You Must Prepare

Document 1: Director’s passport (must be valid for at least 6 months)

If a passport has less than 6 months remaining before expiration, the bank will consider it an invalid document and will immediately reject the KYC application.

Attention: If your passport expires during the KYC review process, you must renew it in advance and resubmit your application.

Document 2: Proof of Address (issued within the last 3 months)

Types of proof of address accepted by banks:

• Utility bills (must show your name and address)
• Bank Statement
• Letters from the Government (Official correspondence from the tax authority and government agencies)

Not accepted: Cell phone bills (from certain banks), credit card statements (from certain banks), and documents older than 3 months.

Document 3: Business Contracts (2–3 recent transaction contracts)

Key documentation proving that the company’s business operations are continuing as usual.

Request:

• Contracts dated within the last 6–12 months
• The contract terms are consistent with the company’s registered scope of business.
• The information regarding both parties to the contract is clear, and the amount is specified.

📌 If you don’t have any recent business contracts and aren’t sure how to explain the situation to the bank, feel free to contact us for advice.
Cell phone: 18676749275 ｜ WeChat: qcygscszk

Document 4: Bank statements for the past 3 months

The bank requires the following:Bank statements from other banks(Not a branch account), used to understand the company’s overall financial position.

If you have only one account, this section will provide the transaction history for that account, but the bank may ask if you have any other accounts.

Document 5: Latest Audit Report

Most major banks require an audited financial statement for the most recent fiscal year when updating KYC information.

This is why “conducting accounting and audits on time every year” is so important—audit reports are not only a tax requirement but also a core document for bank compliance management.

Without an audit report, it is virtually impossible to pass the bank's KYC process.

Document 6: Company Organizational Chart (Must be updated whenever there is a change in shareholding)

If a company has multiple shareholders or a parent-subsidiary structure, the bank requires a clear ownership structure chart showing the ultimate beneficial owner (UBO).

In the event of a change in shareholders or a transfer of equity, this information must be updated and the bank notified once the change is complete.

03 The Key to Passing KYC on the First Try

1. Respond within 14 days of receiving the bank's notice
If you don’t respond within 30 days, the bank will suspend your account. Don’t wait until you have all the information ready to send it—respond to confirm first, then provide the additional information later.

2. Consistency of Data
The names and company names on all documents (passports, proof of address, contracts, audit reports) must match those on file with the bank. Even a single character difference will be flagged.

3. Timeliness of Audit Reports
The audit report required for KYC must be the “most recent” one. If your audit is significantly overdue (more than two years past due), submitting an old audit report may actually draw further scrutiny from the bank.

📞 If you need to complete your audit report as soon as possible to meet KYC review requirements, please feel free to contact Qicaiying. We can arrange for expedited bookkeeping and auditing services.
WeChat: qcygscszk Just send [Audit].

Do you need to update your KYC information but aren’t sure what to prepare? Text “KYC” to us, and we’ll provide you with a complete checklist of required documents for free and help you prepare and submit them.

04 The Four Core Advantages of Qicaiying’s Hong Kong Company Services

🔹 1. A team of experts to guide you throughout the process

Our team of nearly 400 professionals, comprising senior Hong Kong licensed secretaries, certified public accountants, tax accountants and cross-border business consultants, handles tens of thousands of Hong Kong company registration and maintenance cases annually. We provide ”one-to-one” customized solutions from company structure design (e.g. Mainland-Hong Kong dual entity, VIE structure), name search, document preparation to government filing. We have 3 TCSP licensed secretaries and 1 self-owned Hong Kong CPA firm to ensure that every step of the process is legally compliant and to avoid risks from the source.

🔹 2. digitally empowered, smart and efficient

We have invested tens of millions of dollars to develop our own digital system ”E-Tron”, which realizes the standardization of the whole process and visualization of the progress of Hong Kong company registration, bank account opening, annual review, audit and tax filing, and so on. Customers can track the key nodes such as certificate issuance, bank interview, tax return submission, etc. in real time. The integration of AI intelligent analysis can quickly assess whether your business is suitable for applying for offshore exemption, whether you need to do transfer pricing, and assist in generating the optimal compliance program, so that complex matters are clear and transparent.

🔹 3. Eco-links, extra value

We connect over 500,000+ entrepreneurs with domestic and international associations (e.g. Shenzhen Cross-border E-commerce Association, Hong Kong Chinese General Chamber of Commerce), and regularly organize cross-border salons and seminars on finance and tax law. Registering a Hong Kong company through us is not just about getting a certificate - it is also about linking ecological resources such as green channel for bank account opening, cross-border payment, overseas warehouses, auditing and taxation, etc., which solves the problem of ”not knowing who to look for next after registering”, and creates secondary business opportunities.

🔹 4. Full-cycle accompaniment for worry-free sailing

Our services go beyond ”successful registration” to provide full life-cycle support for Hong Kong companies:

Previously: Free assessment of whether you need a Hong Kong company, recommending the optimal type of entity (Mainland company/Hong Kong company/Offshore company);

Midterm: Assist in completing Hong Kong company registration, bank account opening (HSBC / Overseas Chinese / Dah Sing / CBI and many other green channels), VAT / EIN application;

Late: Annual audits, audit tax returns, offshore exemption applications, CRS compliance, account freezes in case of emergencies, to become a long-term and robust partner for your overseas business. We automatically remind and handle all annual compliance matters on behalf of you on a nodal basis, and you just focus on your business.