Hong Kong bank account opening is very straightforward, much more so than in the US, UK or Europe. To open a bank account in Hong Kong, all you need to provide is ID certificate and proof of address. It is not necessary to be resident in Hong Kong or have a Hong Kong work visa, and it’s perfectly possible for a tourist to open a bank account in the city.
I. Documents Required for Hong Kong Bank Account Opening
1. Original copy of Identity certificate of directors (Identity certificate, HK & Macau passport or passport issued by original country where the holder belongs to);
2. Original copy of business license;
3. Original copy of Certificate of Incorporation;
4. Original copy of Memorandums and Articles of Association;
5. Certified True Copies prepared and signed by CPA;
6.Thecashdepositedinthenewaccount; 7.Residential address prove (water, electricity or phone bills in the latest three month);
8. Business transaction records & Business plan (some banks need it);
9. Clients should need to pay the Name Search fees to Bank with HONGKONG company and the company which registered at overseas.
II. Types of Accounts for Hong Kong Bank Account Opening
Many banks are likely to provide all-in-one corporate account while others have different types of bank accounts for your specific business purposes. Taking Hong Kong as a sample, the bank account could usually be divided into four as follows:
1. Hong Kong Dollar saving account;
2. Foreign currency saving account (including all the top popular currencies);
3. Hong Kong Dollar current account;
4. Letter of credit (L/C) account. The above-mentioned three accounts can receive L/C but the L/C account is required if you want to open L/C for your business payment.
III. Bank Accounts and Jurisdictions for Hong Kong Bank Account Opening
Wherever you set up your companies, you can open bank accounts in Hong Kong, the companies, which could open bank accounts in Hong Kong, range from Hong Kong companies and China companies to offshore companies and overseas companies.
Local account means Hong Kong enterprise open the account in Hong Kong local bank while the offshore account means open account outside HK such as Shenzhen, Shanghai and USA. Any companies can open bank accounts with a local bank or an offshore bank for their different purposes. If a Hong Kong Company opens a bank account with a local bank, it is called a local bank account, If a Hong Kong Company opens a bank account with a Shenzhen bank, it is called an offshore bank account.
IV. Who Should Go to the Bank for a Corporate Account Opening?
1. The Eligible Shareholders Should Go
All the shareholders whose shares are more than 10% (including 10%) are eligible to sign the bank documents personally at the bank or the designated place before the bank managers if a bank account is being opened.
2. The Eligible Directors Should Go
Two third of corporate directors whose shares are more than 10% (including 10%) must go to bank personally for opening the bank account. All the directors are welcome to be present.
3. The Eligible appointed Account Managers
If the shareholders or directors appoint anyone else to manage the bank account and sign for and on behalf of the company, the person should also go himself and sign the documents for bank account opening.
4. Special Arrangement by HSBC and Hang Seng Bank
HSBC and Hang Seng Bank can provide a special arrangement for ATAHK’s clients from Mainland China to open a bank account by internal witness signature through video meeting conference (the cover area includes Shenzhen , Guangzhou , Shanghai & Beijing.
V. How Long Can We Use the New Account?
It usually takes two hours to open a bank account, and the bank needs further confirmation of the documents provided by the applicants with the relevant government department. This confirmation processing takes one to two months. The detailed time depends on the different banks approval.
Contact Us
If you have further queries, don’t hesitate to contact Tannet anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-28-86676605 or emailing to tannet-solution@hotmail.com. You are also welcome to visit our HK office with the address in Unit702-703, 7/F, Fourseas Bldg , 208-212, Nathan Rd, Jordan, Hong Kong, Or China head office in 16B, Taiyangdao Bldg, 2020, Dongmen R.S, Luohu, Shenzhen, China.
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