Best Malaysian bank for foreign business ...?

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Member since 18 March 2018

lori_solanMember19 March 2018 23:55:43

Hi,

I am looking in to opening a business bank account here in Malaysia for an Australian company that is looking to set up shop here.
Does anyone have any advice on which banks would be the better options? HSBC have a minimum 2 year operating clause which makes it difficult.
The company I am looking to set up this account for have been in existence for 11 years however it seems that banks here need proof of operation here in Malaysia before opening.
Any help would be greatly appreciated.
Thanks,
Lori

Gravitas ViP

Member since 02 March 2011

GravitasViP20 March 2018 00:46:05

9040

A company needs to be locally incorporated (e.g. sdn bhd or Labuan) and the account holders who open the account would need immigration status i.e. an employment pass.

Standard Chartered has intelligible and reliable systems. But if you are going to be doing online commerce, a local bank would be better. CIMB or Hong Leong may be suitable.

Arafatnabi New member

Member since 24 February 2018

ArafatnabiNew member20 March 2018 02:59:26

1st, u have to register local license SDN BHD Company with at least 2 directors.
2nd, HSBC, SCB foreign bank so very limited Branch

3rd, bank will ask for resident pass/ work permit etc (but have alternative)

Maybank have lots of restrictions
RHB, Hong Leong, CIMB good for online trading

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