Opening a business bank account in Hong Kong requires careful preparation and documentation. While Hong Kong is known for its business-friendly environment, banks have implemented stringent due diligence processes in recent years.
Before opening a business bank account, you'll need to have your company incorporated in Hong Kong first.
With numerous banks and financial institutions in Hong Kong's vibrant financial sector, choosing the right business bank account requires careful consideration of your company's needs.
As one of Asia's leading financial hubs, Hong Kong offers a sophisticated banking system with both traditional and modern banking solutions. However, it's important to note that the account opening process can be more detailed compared to other jurisdictions.
Take your pick from the best business bank accounts in Hong Kong, using our handy guide.
What documents are required to open a business bank account in Hong Kong?
While requirements may vary between banks, here are the standard documents typically required:
- Certificate of Incorporation issued by the Hong Kong Companies Registry
- Business Registration Certificate
- Articles of Association
- Board Resolution authorising the opening of the bank account and appointing authorised signatories
- Proof of business substance, such as:some text
- Business plan
- Company contracts or invoices
- Office lease agreement
- Trading documents
- Documents for all directors, significant shareholders (25% or more), and authorised signatories:some text
- Valid passport copies
- Proof of residential address (dated within the last 3 months)
- CV or professional background information
- Company structure chart showing ultimate beneficial owners
- Source of funds/wealth documentation
- Completed bank account opening forms with signatures from all relevant parties
Most Hong Kong banks require documents to be either original or certified copies. Certification can typically be done by:
- A certified public accountant
- A lawyer
- A notary public
- A chartered secretary
- The bank's authorised staff
The account opening process in Hong Kong typically takes 2-4 weeks, though this can vary depending on the bank and the completeness of your application. Banks may request additional documentation based on their risk assessment and your business nature.
Can I open a business bank account in Hong Kong from overseas?
While it's possible to open a business bank account in Hong Kong remotely, most banks prefer or require at least one director or significant shareholder to be physically present during the account opening process to verify identities and discuss business operations. This is part of their enhanced due diligence requirements. However, some international banks, like HSBC, offer remote account opening services under certain conditions
In general, for overseas applications, additional requirements typically include:
- All documents must be in English or Chinese, or accompanied by certified translations
- Documents may need to be notarised in your home country
- Video conference interviews may be required for remote applications
- Additional proof of business connections to Hong Kong or Asia may be requested
Looking for a modern business banking solution in Hong Kong?
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