Opening a bank account in Hong Kong
We offer 2 solutions for opening a bank account for your company.
Which solution should you choose to open your account?
1. Bank account in Hong Kong with a traditional bank
This is the most logical and recommended solution, but opening an account in Hong Kong has become complicated.
To put it simply, Hong Kong banks require the company’s activities to be related to Hong Kong and/or China, and proof of business activity must be provided: signed contracts, paid invoices, and bank statements for the last 6 months.
You are required to travel to Hong Kong to open the account.
2. Bank account with a fintech (in HK or outside HK)
This is a new solution related to the development of FinTechs in Hong Kong and around the world.
It is an operator that allows you to open a business bank account, but its services are limited (no bank loans, debit card only, etc.).
It is the ideal solution for obtaining an account quickly through remote account opening. After at least 6 months of activity, it can also provide bank statements to make it easier to open an account with a traditional bank in Hong Kong (solution no. 1).
Please note: a company in Hong Kong may have multiple bank accounts (in Hong Kong and/or elsewhere in the world). You can therefore open multiple accounts without any problem.
Choice of bank in Hong Kong and outside Hong Kong
Bank A
Assistance & certification: HKD 6000
Profile: Local bank
Remote opening: No
Documents: Original company documents certified by HKCPA, passport, proof of address dated within the last 3 months, proof of business activity (paid invoices, signed contracts, bank statements from the last 6 months related to activity in Hong Kong / China).
Minimum deposit: HKD 50,000
Opening time: 1 month
Bank B
Assistance & certification: Included in our package
Profile: Fintech in HK
Remote opening: Yes
Documents: Scan of the Business Registration Certificate, passport, proof of address dated within the last 3 months.
Minimum deposit: No minimum
Opening time: 1 week
Bank C
Assistance & certification: Included in our package
Profile: Fintech in HK
Remote opening: Yes
Documents: Scan of the Business Registration Certificate, passport, proof of address dated within the last 3 months.
Minimum deposit: No minimum
Opening time: 1 week
Bank D
Assistance & certification : Included in our package
Profile : Fintech in HK
Remote opening : —
Documents : Scan of the Business Registration Certificate, passport, proof of address dated within the last 3 months.
Minimum deposit : No minimum
Opening time : 1 week
Bank E
Assistance & certification: Included in our package
Profile: Fintech in the USA
Remote opening: Yes
Documents: Scan of the Business Registration Certificate, passport, proof of address dated within the last 3 months.
Minimum deposit: No minimum
Opening time: 1 week
Choose your banking solution wisely
Bank account in Hong Kong: good or bad idea?
While it is now well known that opening a bank account in Hong Kong is difficult (but not impossible), it is worth asking the right question. Does a company established in Hong Kong need to have a bank account with a local bank?
The process of opening a business account in Hong Kong with a major bank is difficult. It is not so much a matter of choosing a bank as finding one that will agree to open an account for your company.
Although some banks make the process easier than others, you will still need to provide all the supporting documents when submitting your application. Our firm will advise you on this by listing the documents required to open an account for your company.
Choose a bank in Hong Kong... or elsewhere
Our firm knows Hong Kong's banking institutions perfectly well, and we can guide you toward those likely to become your partner.
However, other solutions exist, such as opening an online bank account established outside Hong Kong.
The choice depends on the nature of your project and your situation. All factors should be analyzed to make the best-informed decision.
The requirements for opening an account at a major bank
How to open an account in Hong Kong with a major bank such as HSBC? The first step is incorporating the company.
For the appointment with the banker in Hong Kong to sign the account-opening documents, the company must be incorporated BEFORE the in-person appointment.
We will prepare all the supporting documents you need to present at the appointment with you in advance. The appointment takes approximately 1 hour, and the bank account will be opened within approximately 1 month. The e-banking access details and bank card will be sent by the bank to an address of your choice anywhere in the world.
We strongly advise against solutions in which someone else opens the bank account on your behalf by declaring themselves the company's beneficiary. Besides being illegal, there is a great deal of fraud related to this in Hong Kong, as the signatory can empty the account whenever they wish...