The offshore bank account in Hong Kong
Opening a bank account is the most delicate step in the company formation process in Hong Kong. Banks in Asia scrutinize the nature of the business, the identities of the directors, and the documents provided.
It is therefore recommended to prepare carefully for opening the account by anticipating the bank appointment and gathering all the necessary supporting documents.
Open your bank account in Hong Kong
How does account opening work?
Once your company has been registered and you have received your legal documents, you must go to the bank to open your offshore account in Hong Kong and receive income related to your business activities.
To save time, make the appointment sufficiently far in advance while the company is still being registered.
You are required to travel to Hong Kong to meet your banker. Without your presence, your application will be rejected. This requirement has been in effect since 20/01/2014.
Which banking institutions?
The firm works with various financial institutions such as HSBC Hong Kong, Hang Seng Bank, and China Citic Bank.
However, you are free to select another bank.
What documents are required to open an offshore account in Hong Kong?
The bank requests numerous documents to precisely understand the nature of the business and combat money laundering.
The list of documents varies depending on the company’s situation. When a company already exists, several supporting documents are explicitly requested.
Documents to prepare
Company documents
Certificate of incorporation, articles of association, and company registers.
Commercial contracts
Sales or service contracts bearing the signatures and stamps of the various parties.
Customer or supplier invoices
Prepare 3 invoices issued by customers or suppliers.
Bank statements
Formal requirements
Documents less than a year old
Documents submitted to the bank must be less than one year old to be accepted.
Documents in Chinese or English
The documents must be written in Chinese or English. French documents must therefore be translated.
Banking services and application verification
What banking services are available?
Local banks are reputable institutions offering services tailored to international entrepreneurs.
Once the account is opened, you can obtain a bank card, choose from several credit cards, and manage your account online.
Internet Banking is particularly convenient if you do not reside in Hong Kong: it allows you to make bank transfers, transfer money, and manage accounts remotely.
Who decides whether the account will be opened?
Merritt can help you gather the necessary documents and prepare the banking application, but opening the account cannot be guaranteed.
The final acceptance decision rests with the bank.