We will be pleased to provide guidance on the choice of bank for your new Hong Kong company helping you to select a bank that is best aligned with your intended business activities.
Our below guide highlights some points to consider when opening a bank account in Hong Kong and provides a step by step guide to the account opening process.
When applying to open a company bank account in Hong Kong the following points should be noted
The following is a step by step guide to the process to open a company bank account in Hong Kong:
We will seek details from you of the intended business activity of your new Hong Kong company and details of your business background in order we can propose a bank best suited to your business requirements.
We will provide you with contact details for the bank and a link to the banks website for you to submit your account opening application. Please note you cannot liaise with the bank until your new company has been incorporated as the banks require your new company registration documents before they will consider your account opening application.
You will need to complete the banks online account opening application which requires you to provide your personal details, upload your company registration documents, provide details of the intended business activity of your new company, provide details of your business background and provide details of your preferred appointment date and time for the account opening meeting.
The bank staff will review your online account opening application and will usually contact you within 3 working days to discuss your application and arrange a time for the account opening meeting. The scheduling of the meeting is subject to the banks availability but it is usually possible to attend the meeting with the bank within 1 to 2 weeks of submission of your online application.
You will need to meet with ourselves to collect the original CPA certified true copies of the company incorporation documents you will take to your account opening meeting at the bank. We suggest you visit our office at least 1 hour before your meeting at the bank.
You will attend your pre-arranged account opening meeting at the bank to discuss the planned business activities for your new company and provide the bank with relevant documents to support your planned business activities and business background. The account opening meeting usually requires around 1 hour.
The bank will usually require around 2 to 4 weeks to process the bank account opening application after the completion of the account opening meeting. If you live overseas it is not necessary for you to stay in Hong Kong during this period as any follow up questions can be dealt with by email.
The bank will provide the new bank account details to you by email and will request you to arrange a transfer of funds to activate the account. The bank will send the internet banking device to you by courier once your funds to activate the account have been received by the bank.
It is important to take the time to ensure you are properly prepared before submitting your account opening application to the banks as failure to provide the required information and documents can lead to delays and possible rejection of the account opening application. We take the opportunity to refer you to our general guide to the account opening requirements for details of the information and documents required.
Please note the banks can change their account opening requirements and account opening process without notice.