FAQ regarding the Hong Kong bank account
Here are the activities typically rejected by banks located in Hong Kong:
Anyone (meaning without being a resident there or having a company there) can open a personal bank account in Hong Kong. HSBC Hong Kong offers two solutions for this:
The application can be submitted either via the HSBC app (when the person is in Hong Kong) for eligible customers, or by calling the HSBC hotline to make an appointment at the Mong Kok branch or the main branch in Central. Eligibility requirements for an application via the HSBC app:
- Holders of an Exit-Entry Permit (EEP) valid for at least 6 months and currently in Hong Kong
- Holders of an HKID card or a passport residing in Australia, the Macao SAR, Singapore, the United Kingdom, the United States or Canada.
For all other people wishing to open an HSBC ONE account, it will be necessary to call HSBC to make an appointment by phone at +(852) 2233 3000 (then press 2 for English, followed by ## to speak to an advisor). The minimum deposit to be maintained in the account is HKD 10,000 (otherwise, the bank will charge a monthly banking fee of HKD 100). Useful information: - Points to note when opening the account - HSBC One website
An appointment can be scheduled in advance via the HSBC website, and an account manager will be assigned to you. Website for scheduling an appointment: HSBC eTicketing The minimum balance to maintain in the account is HKD 1,000,000 (otherwise, the bank will charge a monthly fee of HKD 380). Useful information: - HSBC Premier site
For an account opened with a major bank in Hong Kong (such as HSBC), your presence there is required. Please note that for an appointment to be arranged with the bank, the company must be registered (Certificate of Incorporation issued). The questions below therefore concern this type of bank. For an account opened with an online bank (in Hong Kong or abroad), everything can be done remotely!
The meeting with the bank is only possible if your company is registered (Certificate of Incorporation issued).
All directors and shareholders of the company must come to Hong Kong to sign the company's bank account opening forms. If the bank account operator is neither a director nor a shareholder of the company, they must also be present in Hong Kong with the director.
To enable the banker to fully understand the nature of your business and your experience, and due to regulations aimed at combating money laundering, you are required to provide the following documents translated into English:
- Regarding you:
- For clients who already have a company: - a copy of the company’s official registration documents: Certificate of Incorporation (KBIS in France, Moniteur Belge, etc.) and documents (articles of association, registers) indicating the client’s position in the company (director/shareholder).
- For clients employed by a company (who are neither directors nor shareholders): - a copy of the employment contract indicating the employer’s name, the client’s name, their position, the duration of the contract, the signatures of both parties, and the employer’s website/brochure.
- Regarding your business activity:
- You already have an existing business activity: - a sales/service contract bearing the signatures/stamps of both parties, accompanied by 3 customer invoices or 3 supplier invoices and the bank statements evidencing their payment. For import-export companies: transport documents bearing official stamps. As the purpose of the documents above is to help the banker better understand the client’s need for a bank account in Hong Kong, it is advisable that these documents indicate that the client already conducts business in Asia. Therefore, it is advisable to provide evidence of relationships with customers or suppliers located in Asia (China, Hong Kong, Singapore, Japan): business cards, brochure, quotation, website, etc.
- For a new business activity: - a copy of a sales contract with customers or suppliers located in Asia. A copy of a pro forma invoice is sufficient if the client is in the early stages of negotiations with their Asian customers/suppliers. Business cards, brochures, and websites of the Asian customers/suppliers to help the banker better understand the nature of the business activity.
Please note: All documents must be less than one year old. If the documents are not in English or Chinese, they must be translated by a certified translator (the translator’s stamp and signature must appear on the documents).
It usually takes a maximum of 15 business days for the banker to review the submitted documents.
Yes, internet banking is available at all the banks we work with. It allows you to carry out all the usual banking transactions (checking accounts, transfers, etc.).
On the “Customer Access” page of our website, please click the link “H) How can I contact HSBC Hong Kong?” You will then find the ways to contact HSBC Hong Kong by phone, mail, email, and via e-banking.
Banks have strengthened their privacy rules, and in accordance with the recommendations of the Hong Kong Banking Authority, our company, as Company Secretary, cannot contact the bank on your behalf or act as an intermediary, since we have no authority over your company’s bank account. We therefore invite you to contact your bank directly whenever you have any request related to your bank account.
Opening a bank account for a company is a decision made solely by the bank (the bank’s Compliance Department makes the decision). We therefore cannot be held responsible if a bank account is not opened. Consequently, our package includes an obligation of means and not of result, since we cannot guarantee something that does not depend on us but on a third party (the bank). This obligation of means consists of assisting you with opening your bank account, BUT we are not authorized to replace you in this process or to act on your behalf (for example, if the bank asks you for additional information about your business, we cannot respond in your place because regulations prohibit us from doing so). Following the appointment to open the account, banks usually communicate directly with the client rather than through us due to banking secrecy. We are therefore not always aware of the progress of an account-opening application or whether any documents are missing from the file. Likewise, we are not informed if an application is rejected (the bank notifies the client directly), and we cannot know why an application was rejected. We undertake to assist you free of charge with opening an account at a second bank if the first bank has not agreed to open your account or if the account-opening process is taking too long.
Unfortunately, yes, because you are considered a new business customer regardless of your history with the bank. Furthermore, due to banking secrecy, HSBC cannot exchange information with banks located in other countries, even if those banks belong to the HSBC network.
In accordance with regulations, these forms must be signed in Hong Kong. We are arranging an appointment with the banker for them to sign.
In Hong Kong, we primarily work with HSBC, Hang Seng Bank, and China Citic Bank. It is possible to open a business account for your company. It is possible to open an account with several banks in Hong Kong.
The appointment usually takes place at the branch closest to our offices. ATTENTION: The appointment with the bank is only possible if your company is already registered (Certificate of Incorporation issued).
All the directors and partners of the company have access to the company's bank account. As your Company Secretary, our firm has no access to your company's bank account. We have no authority over your bank account.
Only the bank can answer you on these matters, as we cannot respond on its behalf. We therefore invite you to ask your account manager directly. However, please note that as a non-resident, the bank needs to understand your activities and transaction history well over several months before offering you additional banking services.
The amount to be deposited when opening the account (“initial deposit”) is a minimum of HKD 10,000 (approximately EUR 1,200). This amount is immediately available once the company account is opened.
The bank will provide you with its SWIFT code, allowing you to receive funds by bank transfer. Please note that IBANs do not exist in Hong Kong (but you can make transfers to an account with an IBAN). To make a transfer to your account, you need to provide your clients with your account number, the bank's name and address, and the bank's SWIFT code. It is possible to cash checks issued outside Hong Kong, but we strongly advise against this international payment method due to the processing time (more than a month) and fees.
The usual method is a bank transfer. Please note that transfer requests by fax are not accepted (only by mail or online via the bank’s Internet banking interface). HSBC offers you a debit and credit card.
Two business bank accounts are automatically opened for you: – An HKD account (required); – A multi-currency account: EUR, USD, RMB, etc. For the multi-currency account, simply specify the currencies you want when opening your account or later, as needed. If you receive a payment in a currency that is not one of your account’s currencies, a new account in that currency will be created automatically.
Yes, but be mindful of your company's credibility if it has a bank account in a country other than where the company is headquartered, as this could raise questions about the credibility of your invoices and therefore have legal and tax implications for your customers/suppliers.
Banking secrecy applies in Hong Kong. Therefore, the bank will not disclose any information to third parties, except at the request of the Hong Kong Authorities, as well as under the Common Reporting Standard, which provides for the automatic exchange of tax information for companies known as offshore companies or whose income is predominantly passive.
Banking secrecy applies in Hong Kong. Therefore, the bank will not disclose any information to third parties, except at the request of the Hong Kong Authorities, as well as under the Common Reporting Standard, which provides for the automatic exchange of tax information for companies known as offshore companies or whose income is predominantly passive.
Hong Kong banks usually refuse to cash checks issued by non-residents of Hong Kong or China and almost systematically return them to their issuers. We therefore strongly advise against using this payment method, which is not suitable for international trade.
Hong Kong banks only offer HKD checkbooks. Therefore, if your supplier accepts it, yes, it is possible, but internationally we strongly advise against using checks due to the collection costs and processing times (a bank transfer is preferable).
Banks in Hong Kong no longer offer this type of bank card.
Through banks, all investments are available: stocks, currencies, investment funds, life insurance, gold, etc. on all major global markets (USA, Europe, Asia, etc.). It is also possible to open an account with a broker (such as Interactive Brokers, etc.).
Our banking partners offer the main trading platforms, such as Interactive Brokers, etc. Accounts opened with these brokers are in the name of your Hong Kong company.
Yes, absolutely, and through our partnership, we also offer you a simplified procedure for opening an account for your company with Interactive Brokers.
The RMB, CNY, or Yuan is the currency of the People’s Republic of China. It is now possible to open an RMB account with HSBC Hong Kong, allowing you to receive payments in RMB and pay your suppliers in RMB. This account is opened automatically.
Yes, absolutely: this letter can be issued in English or Chinese with the appropriate wording according to your needs (for example, to open a representative office or subsidiary in China).
The bank allows you to process (issue and receive) letters of credit (Letter of Credit – L/C) and documentary credits (Document Credit – DC). To do this, the bank will open a Trade Services account for you so that you can manage them. Through its Instant@dvice service, everything can be managed online and by email (so there is no need to go to Hong Kong to process them).
Indeed, you need to provide a business plan to open your bank account. Please note that we provide you with a template to complete in English: – this document is 2 pages long and the questions are very basic: the company’s activity, expected turnover, etc.; – it is in English, and if necessary, we are available to help you complete it in French; – this document is reviewed by our French-speaking team and then by our Hong Kong team before being sent to the bank. This double validation ensures that your bank account will be opened without problems and within the usual time frame.
For in-branch transfers with HSBC Hong Kong, there is no limit. For “paper” transfers (sending a transfer order by mail using the appropriate form), there is no limit. For e-banking transfers, the limit is HKD 20,000,000 (or the equivalent in another currency) per day, regardless of the number of transfers made. It can be increased to HKD 128,000,000 per day upon request.
Only the beneficiary who signed the bank account opening form has access to and authority over the company's bank account. We (as Company Secretary or otherwise) have no authority or access to your bank account. Therefore, due to the strict bank secrecy regulations applied in Hong Kong, only the beneficiary can contact the bank and act on the company's bank account.
Your company in Hong Kong can open as many bank accounts as you wish in Hong Kong and abroad. In Hong Kong, we offer to open a bank account for you with HSBC, Hang Seng Bank, or China Citic Bank. Other banks in Hong Kong are also available (contact us). With all these banks, 2 bank accounts are opened for you: – An HKD account (mandatory); – A multi-currency account: EUR, USD, GBP, etc.
This is only possible if you are a resident of Hong Kong and can be arranged when you come to Hong Kong (your presence at the branch is required to open it).
HSBC offers cash withdrawal cards and payment cards. The distinction is as follows: - Debit card (also known as an ATM card): a card that debits your bank account directly. It allows you to withdraw funds from all Visa/Mastercard/UnionPay ATMs. This card is issued automatically when you open your bank account. - Credit card (Visa Gold or Visa Platinum): Visa cards offering a credit function, allowing you to pay merchants (in-store or online). This card must be requested (it is not issued automatically). Please note that these cards are issued in HKD: they therefore debit your HKD account, which must consequently be funded by your other foreign-currency accounts, if applicable. For a credit card, the minimum amount to be blocked in your account is HKD 30,000 for a Visa Gold and HKD 50,000 for a Visa Platinum. Assistance fees for applying for these cards (signing the forms, submitting them to HSBC, etc.) are included in our package.
HSBC Hong Kong automatically provides an ATM card (cash withdrawal card) with every account opening. This is a bank card that works at ATMs worldwide. This card is free.
The International Bank Account Number (IBAN) does not yet exist in Hong Kong. IBANs are mainly used in Europe and are gradually spreading worldwide. Therefore, to make a transfer to a bank account located in Hong Kong, you must provide the sending bank with the account number and the SWIFT code of the receiving bank.
The appointment with the bank to open the company's bank account is only possible once your company is registered (Certificate of Incorporation issued). You can therefore come to our office to sign the company's registration documents, but in that case you will have to wait for the Certificate of Incorporation to be issued before meeting with the banker. Here are the expected timeframes for registering your company: - “express ” registration on-site: 24 hours - “standard ” registration remotely: 7 business days
The cash withdrawal limit at an ATM is as follows: – Debit card (ATM): HKD 20 000 per day (limit to be converted into the currency of the country where the ATM is located); – Visa credit card: HKD 10 000 per day (limit to be converted into the currency of the country where the ATM is located).
The credit card payment limit is linked to the security deposit you block on your bank account. So, if you block HKD 30,000, your monthly payment limit will be HKD 30,000 (converted into the currency of the country where the payment is made). This limit can therefore be increased or decreased according to your needs.
When opening your personal or business bank account, the bank will always check whether your name appears in the "World-Check" database. Your name may appear there simply due to an error or namesake. If this is the case, here is an email address to correct the information concerning you: contact@world-check.com. You can also check whether you are listed on World-Check by clicking here.