Start Your Venture Right :
The Smart Way to Open a Bank Account in Hong Kong

Hong Kong stands out as a vibrant hub for venture expansion. With its unique blend of business-friendly environment and robust banking system, the only question remaining is : “Can I apply for a Hong Kong business bank account on my own?”

This guide outlines the essential steps to secure the right banking partner for your venture : 

• Get Started with Your HK Company & Business Account
• Book Your Banking Appointment
• Meet Your HK Bankers
• Check Application Status
• Choose the Right Bank with AsiaBC

While Hong Kong banks accept overseas companies, establishing a HK limited company significantly boosts your presence and credibility in the region.

Entrepreneurs can take advantage of the favourable tax system, which features an 8.25% rate on the first HK$2 million of profits and 16.5% on net profits exceeding that amount, while enjoying the benefit of no taxes on dividends or capital gains.

The business registration process in Hong Kong is swift, typically completed in just one day, and requires a local company secretary and a registered office address. Many entrepreneurs choose to hire a corporate service provider to navigate these requirements efficiently.

When you’ve successfully set up your Hong Kong company, you can start opening a business account with local banks. To get started, you’ll need to submit the following documents :

• Certificate of Incorporation
• Business Registration Certificate
• Articles of Association
• Business plan
• Passport, proof of address, and tax residency for beneficial owners with 10% or more voting rights

Booking an appointment with Hong Kong banks is essential for opening a business account, as walk-ins are not allowed. You can easily schedule your appointment online or by phone, and make sure to submit a completed application form along with the required documents for approval. It’s a good idea to reach out to multiple banks to streamline the process and save time.

Bank of China HK, Bank of East Asia, Dah Sing Bank, DBS Bank HK, Hang Seng Bank, and HSBC accept online booking.

Hong Kong banks conduct face-to-face interviews with approved applicants and their beneficial owners as part of the Know-Your-Client (KYC) process. Be sure to bring all the required documents from the bank’s checklist to finalise your account opening. During the meeting, the banker will verify your information and collect the minimum initial deposit and application fee upon approval.

It’s highly recommended to follow up with the banker after a week to see if your application requires any additional information or documents. This proactive approach can help ensure a smooth approval process and address any potential issues early on.

Securing a business bank account for your Hong Kong venture is a crucial step in establishing your presence in this vibrant and dynamic city. Being well-prepared and understanding the procedure of opening an account simplifies the process and positions your business for growth in this thriving environment.

At AsiaBC, we make the account opening process seamless. Our extensive banking network connects you with the right financial institutions, and our experts possess in-depth knowledge of each bank’s client preferences. We take a hands-on approach, guiding you from start to finish and ensuring timely follow-ups to keep your application on track. This proactive support results in reduced processing times and tailored banking solutions that align with your specific business needs.

Take the next step in your Hong Kong entrepreneurial journey with the right banking partner. Connect with our experts via  +852 6547 1314  or email us at business@asiabc.com.hk and get ready to make seamless cross-border transactions wherever you are.