Is opening a corporate bank account preferable to using a founder's personal account?

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

The following are a few well-known advantages of possessing it:

1. Professionalism. Issuing a personal check to your suppliers or clients could jeopardize your company’s future credibility. Having a business account Hong Kong only demonstrates that you take your work seriously.

2. Finance management is simplified. It’s easier to track and monitor your expenditure when you keep your business and personal accounts separate.

3. Tax burden is reduced. You won’t face an audit, and you’ll be able to maximize your business tax deductions.

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