Is a Founder’s Personal Bank Account or a Corporate Bank Account Better?

If you’re a startup, keep your business and personal accounts separate. Having a separate Hong Kong bank account for your business has several advantages.

Some well-known advantages of owning one are as follows:

1. Professionalism. Issuing a personal check to a supplier or client may jeopardize your company’s future credibility. Having a business account demonstrates that you take your work seriously.

2. Finance administration has been streamlined. It is easier to track and monitor your spending when you keep your business and personal bank accounts separate.

3. The tax burden has been reduced. You won’t have to deal with an audit, and you’ll be able to concentrate on growing your company.