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Open a Business Account in Hong Kong

Updated:2018-7-12 17:07:14    Source:www.tannet-group.comViews:368

Opening a business account is one of the first things you'll need to do to make sure your company runs smoothly. Today companies can choose from several international and local banks for opening a corporate bank account in Hong Kong. Hong Kong is a major banking center and once you have incorporated your company there, you’ll be entitled to open a multi-currency business bank account. However, opening a Hong Kong bank account is not easy for non-residents and startup company, so we want to share with you our experience in this regard.

I. Process for Opening a Business Bank Account in Hong Kong
Opening a business bank account in Hong Kong can take two to three weeks and usually requires all relevant people (directors, major shareholders and nominees) to visit the bank in person. If you or other company owners will be visiting Hong Kong specifically for the purpose of opening an account, it may be worth working with an agency in advance to help assemble the documents needed.

Each bank will have its own account opening process and list of documents required. However, you can expect to be asked for the following:

1. Company documents to prove your business is properly registered (depending on the type of entity, you may be asked to provide a Business Registration Certificate, a Certificate of Incorporation or Articles of Association);
2. Proof of identity and address for all directors, shareholders and nominees - usually a photo ID such as a passport, along with a recent utility bill;
3. Evidence of your business activity, such as previous banking history or business plan.

II. Open a Business Bank Account from Abroad
Hong Kong banks usually follow very strict procedures around account opening, and ask for all relevant parties to attend the bank in person. However, one option if you’re not in Hong Kong but need to open an account, is to choose a bank with a global presence.

It may then be possible to attend a bank branch local to you to complete the relevant documentation, with a member of your local branch staff acting as witness on behalf of the Hong Kong bank.

III. Which Bank to Choose
(1) HSBC: the largest bank in Hong Kong. They offer two corporate current accounts,which  can be opened with a single visit to the HSBC business banking centre.
(2) Hang Seng Bank: Hong Kong’s second largest local retail bank. They offer two different business accounts to suit different types of entities, and offer discounts to those who use primarily internet based banking services. Hang Seng also offers businesses other financial products such as loans and investment tools.
(3) Bank of China (Hong Kong): a local arm of the Chinese banking giant of the same name. They offer a wide range of banking services for business, which cover companies at all stages and in all industries.
(4) Standard Chartered Bank: an international bank with their headquarters in Hong Kong. Customers here have access to a broad branch and ATM network across the country and region.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu, Shenzhen, China.

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