Bank account in Hong-Kong | Company formation in Hong Kong

How to open a bank account in Hong Kong

Order expert assistance in opening a bank account in Hong Kong

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SERVICES

Why you need to appoint Vita Liberta Limited  as your company secretary in Hong Kong

List of all licensed banks in Hong Kong

ABN AMRO Bank N.V.

Agricultural Bank of China Limited

Airstar Bank Limited

Allahabad Bank

Ant Bank (Hong Kong) Limited

Australia and New Zealand Banking Group Limited

Axis Bank Limited

Banca Monte dei Paschi di Siena, S.p.A.

Banco Bilbao Vizcaya Argentaria, S.A.

Banco Santander, S.A.

Bangkok Bank Public Company Limited

Bank J. Safra Sarasin AG (Banque J. Safra Sarasin SA, Banca J. Safra Sarasin SA and Bank J. Safra Sarasin Ltd)

Bank Julius Baer & Co. Ltd.

Bank of America, National Association

Bank of Baroda

Bank of China (Hong Kong) Limited

Bank of China Limited

Bank of Communications (Hong Kong) Limited

Bank of Communications Co., Ltd.

The Bank of East Asia, Limited

Bank of India

Bank of Montreal

The Bank Of New York Mellon

The Bank of Nova Scotia

Bank of Singapore Limited

Bank of Taiwan

Bank SinoPac

Barclays Bank PLC

BDO Unibank, Inc. (BDO, BDO Unibank, Banco De Oro, Banco De Oro Unibank, BDO Banco De Oro)

BNP Paribas

BNP Paribas Securities Services

CA Indosuez (Switzerland) SA

Canadian Imperial Bank of Commerce

Canara Bank

Cathay Bank

Cathay United Bank Company, Limited

Chang Hwa Commercial Bank, Ltd.

The Chiba Bank Ltd.

China CITIC Bank International Limited

China Construction Bank (Asia) Corporation Limited

China Construction Bank Corporation

China Development Bank

China Everbright Bank Co., Ltd.

China Merchants Bank Co., Ltd.

China Minsheng Banking Corp., Ltd.

China Zheshang Bank Co., Ltd.

Chiyu Banking Corporation Limited

Chong Hing Bank Limited

The Chugoku Bank, Ltd

CIMB Bank Berhad

Citibank (Hong Kong) Limited

Citibank, N.A.

CMB Wing Lung Bank Limited

Commerzbank AG

Commonwealth Bank of Australia

Coöperatieve Rabobank U.A.

Coutts & Co AG (Coutts & Co SA, Coutts & Co Ltd)

Crédit Agricole Corporate and Investment Bank

CREDIT INDUSTRIEL ET COMMERCIAL

Credit Suisse AG

CTBC Bank Co., Ltd.

Dah Sing Bank, Limited

DBS Bank (Hong Kong) Limited

DBS Bank Ltd.

Deutsche Bank AG

DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main

E.Sun Commercial Bank, Ltd.

East West Bank

EFG Bank AG (EFG Bank SA, EFG Bank Ltd)

Erste Group Bank AG

Far Eastern International Bank, Hong Kong Branch

First Abu Dhabi Bank PJSC

First Commercial Bank, Ltd

Fubon Bank (Hong Kong) Limited

Fusion Bank Limited

The Hachijuni Bank, Ltd.

Hang Seng Bank, Limited

HDFC Bank Limited

Hong Leong Bank Berhad

The Hongkong and Shanghai Banking Corporation Limited

HSBC Bank PLC

HSBC Bank USA, National Association

HSBC Private Bank (Suisse) SA

Hua Nan Commercial Bank, Ltd.

HUA XIA BANK CO., Limited

ICBC Standard Bank PLC

ICICI Bank Limited

Indian Overseas Bank

Industrial and Commercial Bank of China (Asia) Limited

Industrial and Commercial Bank of China Limited

Industrial Bank Co., Ltd.

Industrial Bank of Korea

ING Bank N.V.

Intesa Sanpaolo SPA

JPMorgan Chase Bank, National Association

KBC Bank N.V.

KEB Hana Bank

Kookmin Bank

Land Bank of Taiwan, Co., Ltd.

LGT Bank AG (LGT Bank Ltd., LGT Bank SA)

Livi VB Limited

Macquarie Bank Limited

Malayan Banking Berhad (Maybank)

Mashreq Bank – Public Shareholding Company (Mashreqbank psc)

Mega International Commercial Bank Co., Ltd.

Melli Bank PLC

Mitsubishi UFJ Trust and Banking Corporation

Mizuho Bank, Ltd.

Morgan Stanley Bank Asia Limited

MUFG Bank, Ltd.

Nanyang Commercial Bank, Limited

National Australia Bank Limited

National Bank of Pakistan

Natixis

NatWest Markets N.V.

NATWEST MARKETS PLC

O-Bank Co., Ltd.

OCBC Wing Hang Bank Limited

Oversea-Chinese Banking Corporation Ltd.

Philippine National Bank

Pictet & Cie (Europe) S.A.

Ping An Bank Co., Ltd.

Ping An OneConnect Bank (Hong Kong) Limited

PT. Bank Negara Indonesia (Persero) Tbk.

Public Bank (Hong Kong) Limited

Punjab National Bank

Qatar National Bank (Q.P.S.C.)

Royal Bank of Canada

SC Digital Solutions Limited

The Shanghai Commercial & Savings Bank, Ltd.

Shanghai Commercial Bank Limited

Shanghai Pudong Development Bank Co., Ltd.

The Shiga Bank, Ltd.

Shinhan Bank

The Shizuoka Bank Ltd.

Skandinaviska Enskilda Banken AB

Societe Generale

Standard Chartered Bank

Standard Chartered Bank (Hong Kong) Limited

State Bank of India

State Street Bank and Trust Company

Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Trust Bank, Limited

Svenska Handelsbanken AB (publ)

Tai Sang Bank Limited

Tai Yau Bank, Limited

Taipei Fubon Commercial Bank Co. Ltd.

Taishin International Bank Co. Ltd.

Taiwan Business Bank, Ltd.

Taiwan Cooperative Bank, Ltd.

Taiwan Shin Kong Commercial Bank Co., Ltd.

Toronto-Dominion Bank

UBS AG

UCO Bank

UniCredit Bank AG

Union Bancaire Privée, UBP SA (United Private Bank UBP LTD)

Union Bank of India

United Overseas Bank Ltd.

Welab Bank Limited

Wells Fargo Bank, National Association

Westpac Banking Corporation

Woori Bank

Yuanta Commercial Bank Co., Ltd

ZA Bank Limited

Procedure for interacting with a bank in Hong Kong to open a bank account

Banks in Hong Kong need to undertake customer due diligence to understand customers’ background and needs to be done before opening bank account. This helps banks to provide suitable banking services to their customers. Depending on whether the customer has provided sufficient information to the bank for it to undertake the CDD process, the account opening process can be completed within several days for simple cases.

The process of interacting with a bank in Hong Kong when opening an account broadly speaking looks like the following:

  1. Call one of the banks in Hong Kong by phone. Each bank has a separate line for this.
  2. Answer questions of a bank employee, provide primary information.
  3. Collect all the necessary information and documents that the bank requested from you and send to the bank.
  4. Visit the bank on the appointed day.
    Documents you will need to successfully open a corporate bank account in Hong Kong
    • Detailed marketing materials of your business – presentation, list of products, website, price lists, publications about your business, pictures of your products, reference letters from world famous companies. The more you can provide for a bank in Hong Kong, the better. This is the first step to prove the real economic activity of your business.
    • Business plan form your business. This is a good document if your business is a start-up. Your business plan should show intentions of your business and must correspond to the reality. For new companies, it is always difficult to determine compliance risk. The only way to check the reliability of a new company is through the beneficiaries and their other existing businesses. If you have a new company, you want to open a bank account for it in a Hong Kong bank, but you do not have other companies that you can show to the bank and prove that you are be a truly successful entrepreneur, then opening a bank account in Hong Kong banks will be an impossible task for you.
    • Bank statements of your company for the last financial year of the ones of your affiliated companies. If your business is an existing one and your company has a history of transactions, this is an obligatory thing to do. If you can not provide bank statements for your existing business, then it is unreal to open a bank account in Hong Kong. Also, if you have “week” bank statement, which means they hardly correspond to your business activity or from these statements a bank can not prove the information that your partners are good, in this case opening a Hong Kong bank account is very far away from you. In order to really pretend to open a corporate bank account in Hong Kong, you need to make sure that your previous bank’s history is crystal pure.
    • Audited financial statements. The best way to provide audited financial statements as this gives a seriousness to your business. In Hong Kong all companies need to do audit so this is considered as a usual thing. Still, if you do not have audited financial statements, you can provide a simple ones. If your company is active for more than a few years and you can not provide financial statements, them opening a company bank account in Hong Kong is not an option for you. If your company is a new one, it would be an advantage to provide audited financial statements of your affiliated business.
    • Company’s contracts and invoices or the ones of affiliated company. This is an important part in dealing with banks in Hong Kong regarding opening an account. You should be able to promptly provide all your contracts for the last half a year (highly desirable in English and they must be signed on both sides), as well as provide all invoices. It is imperative that data in invoices and contracts be matched with bank statements. It is highly desirable that at least 25% of your revenue go to partners in China or Hong Kong. This will help in communicating with banks in Hong Kong and may seem very positive on the decision of the bank to open an account for you. But, if your partners are in another part of the world, you will have to proceed from this fact and prove that you will be interesting to the bank.
    • Detailed CV and supporting documents for shareholders, beneficiaries and directors. Shareholders of the company, as well as authorized persons, must be extremely transparent. It will not be superfluous to provide information from the media, and any other information that confirms the expertise and reputation of the shareholders and directors of your company. A Hong Kong bank account cannot be managed by a person who has a bad reputation or who is a nominal person.
    • Reference letter from a partner that is a client of the bank where you plan open an account. When considering considering opening a bank account, any bank in Hong Kong asks whether you came on the recommendation of an existing client or not. Obviously, if the current client of a Hong Kong bank recommends you where you plan to open an account, then your chances increase.
    • Office lease agreement. If you rent an office in Hong Kong or China, then this significantly increases your chances of actually applying for opening your bank account in Hong Kong. If your office is in another part of the world, then this is also good. The agreement, confirmation of payment of the lease from the bank statement of the company, as well as photos of your office will help increase the chances of success.
    • An extract taken by the board resolution approving the opening of a corporate bank account.
    • True copy of the Certificate of Incorporation certified by the Companies Registry.
    • True copy of the Business Registration Certificate certified by the Inland Revenue Department.
    • True copy of the Articles of Association certified by the Companies Registry.
    • True copies of NNC1 / NAR1 forms certified by the Companies Registry.
    • A director declaration that provides the personal particulars of directors and principal shareholders. A principal shareholder is a person entitled to exercise or control the exercise of 10% or more of the company’s voting rights.
    • A copy of the Hong Kong identity card or copy of passport.
    • Proof of the home address of a directors and shareholders (utility bills, bank statements, driving license and so on).
    • A list of specimen signatures of authorized persons.
    • Bank account opening forms.
      What banks do not like in Hong Kong and what will not allow you to substantially pretend to open a company account in Hong Kong?
      • Director of your company is a another company. It is an an offshore company, then, please, forget about opening a bank account in Hong Kong.
      • Complicated ownership structures. If in your shareholders are trusts, holding companies, offshore companies, this will seriously complicate a job for a bank to check your company and will decrease your chance to open a bank account in Hong Kong.
      • Your business has no substantial partners in China or Hong Kong. Hong Kong law/accounting firms are not taken into account.
      • If a director or shareholder of your company is a resident of some of the countries listed in this link.
      • If shareholders can not come personally to the bank for interview.
      • If your company is a Holding company –  that receives most of its income from passive sources (investments) course a higher level of scrutiny for the banks under CRS and FATCA, and are therefore viewed as higher risk than active trading companies.
      • International eCommerce business that gets payments from private persons from other countries.
      • Cash based businesses. If a lot of cash comes into your account, forget about opening a bank account in Hong Kong. This will be unrealistic.
      • Regulated businesses – Hong Kong banks don’t like working with companies that are heavily regulated and if this regulation concerns other countries.
      • Start-ups – as previously noted, for a new company there are always problems of its verification. Banks in Hong Kong do not like to inspect new companies. Many banks in Hong Kong have a requirement that the company must be no older than a year and the company should already have a working account. To come to a Hong Kong bank and refer to the lack of any story – an idea that will not give anything.
      • It is extremely difficult for a business connected with the cryptocurrency industry, options, and forex to open a corporate account in Hong Kong.
      • If your business is connected to cooperation with sanction bodies.
      Hotlines on opening personal and business accounts at 20 banks in Hong Kong

       

      Bank

      Personal Accounts

      Business Accounts

      Bank of China (Hong Kong) Limited

      Hotline: (852) 3988 2388

      • Hotline: (852) 3988 2288
      • Dedicated hotline for account opening of overseas enterprises: (852) 3988 2195

      Bank of Communications (Hong Kong) Limited

      Hotline: (852) 2239 5559

      Hotline: (852) 2239 5559

      Bank of Communications Co., Ltd.

      N/A

      Hotline: (852) 3989 5559

      The Bank of East Asia, Limited

      Hotline: (852) 2211 1333

      Hotline: (852) 2211 1333

      China CITIC Bank International Limited

      Hotline: (852) 2287 6767

      Hotline: (852) 2287 6767

      China Construction Bank (Asia) Corporation Limited

      Hotline: (852) 2903 8303

      Hotline: (852) 2903 8366

      Chiyu Banking Corporation Limited

      Hotline: (852) 2232 3625

      Hotline: (852) 2232 3625

      Chong Hing Bank Limited

      Hotline: (852) 3768 6888

      Hotline: (852) 3768 6888

      Citibank (Hong Kong) Limited

      Hotline: (852) 2860 0333

      Hotline: (852) 2860 0267

      CMB Wing Lung Bank Limited

      Hotline: (852) 2309 5555

      Hotline: (852) 2309 5555

      Dah Sing Bank, Limited

      Hotline: (852) 2828 8000

      Hotline: (852) 2828 8008

      DBS Bank (Hong Kong) Limited

      Hotline: (852) 2290 8888

      Hotline: (852) 2290 8068

      Fubon Bank (Hong Kong) Limited

      Hotline: (852) 2806 4327

      Hotline: (852) 2806 4327

      Hang Seng Bank, Limited

      Hotline: (852) 2822 0228

      Hotline: (852) 2198 8000

      The Hongkong and Shanghai Banking Corporation Limited

      Hotline: (852) 2233 3000

      Hotline:  (852) 2748 8238

      Industrial and Commercial Bank of China (Asia) Limited

      Hotline: (852) 2189 5588

      Designated branches for opening accounts (overseas enterprise)

      1) 1/F., 9 Queen’s Road Central, Hong Kong

      2) Shop 1&2, G/F, No. 35-37 Hankow Road, Tsim Sha Tsui, Kowloon

      Hotline: (852) 2189 5588

      Dedicated hotline for account opening of overseas enterprises: (852) 3510 8517

      Nanyang Commercial Bank, Limited

      Hotline: (852) 2622 2633

      Hotline: (852) 2622 2633

      OCBC Wing Hang Bank Limited

      Hotline: (852) 2815 9919

      Hotline: (852) 2633 0628

      Public Bank (Hong Kong) Limited

      Hotline: (852) 8107 0818

      Hotline: (852) 8107 0818

      Shanghai Commercial Bank Limited

      Hotline: (852) 2818 0282

      Hotline: (852) 2818 0282

      Standard Chartered Bank (Hong Kong) Limited

      Hotline: (852) 2886 8888

      Hotline:  (852) 2886 6988

      Some non-retail banks have also indicated interests in providing banking services for overseas SMEs and start-ups. The relevant information on opening business accounts at these banks is set out below:

      Bank

      Contact Information

      Bangkok Bank Public Company Limited

      Dedicated hotline for business account opening: (852) 2801 6579

      Bank of Baroda

      General enquiries

      Tel: (852) 2521 5166

      BDO Unibank, Inc.

      Hotlines:For customers in Hong Kong:(852) 2868 0323

      (852) 2901 0201 (English, Cantonese)

      (852) 2901 0223 (English, Fukienese, Tagalog)

      For overseas customers, International Toll-Free line is available:

      (International Access Code) + 800-8-6318000

      Canara Bank

      Contact person for opening business accounts:

      Mr. Paneeshayana M, Senior Manager (Operations)

      Tel: (852) 2866 9507

      E-mail: operationshk@canarabank.com

      Commerzbank AG

      Hotline for business account opening: (852) 3988 0988

      E-mail: CorporatesInternational.HongKong@Commerzbank.com

      Hong Leong Bank Berhad

      Hotline for business account opening: (852) 2283 8838

      Indian Overseas Bank

      Contact person for opening business accounts:

      Mr. Sujay Gopal Rao, Chief Manager

      Tel: (852) 2522 7572

      Mobile: (852) 9732 0205

      National Bank of Pakistan

      General enquiries

      Address: Unit 1801-1805, 18/F, FWD Financial Centre, 308-320 Des Voeux Road, Central, Hong Kong

      Hotline: (852) 2521 7321

      United Overseas Bank Ltd.

      Contact person for opening business accounts:

      Mr. Simon Choi, First Vice President / Team Head, Corporates Wealth Management, Commercial Banking

      Tel: (852) 2820 6662

      Email: simon.choikh@uobgroup.com

       

      Advantages in opening a bank account in Hong Kong for your company
      1. Sound banking system. In Hong Kong there are present around 250 banks and many of them are among the largest in the world such as  HSBC, the Bank of China, Citibank, Standard Chartered Bank and others. 
      2. Hong Kong is known for having high-quality regulations of the banking sector. This applies not only to the procedures for opening an account with a Hong Kong bank, but also to the requirements for banks by regulators.Therefore, banks in Hong Kong are financially reliable and are not involved in gnawing operations.
      3. Hong Kong banks have a low rate of balance that is required to be left on account – as low as 10,000 HKD along with a 100 HKD monthly fee. This is incomparably magical conditions if compared with the requirements of, for example, Swiss or Austrian banks.
      4. Lack of currency control and freedom of movement of capital. You can make payments in any currency of the world.
      5. RMB trade settlements. Hong Kong banks are allowed to take care of the RMB agreement for cross-border trading with mainland China. Under the RMB scheme, all the companies in China with an import-and-export license can settle their foreign trade in RMB. The advantage of this is the lowering costs of selling and buying RMB. Also, it gives an opportunity to receive and maintain the RMB trade receipts offshore.
      6. Modern mobile online banking programs with the maximum degree of comfort and reliability.