Hong Kong Banking Services

The team at Your China Guy offers a service to exclusive clients interested in opening a Hong Kong registered company bank account. Details are outlined below and overall, successful bank account opening depends upon a number of different factors.

Your China Guy has established professional customer relationships with a number of banks in Hong Kong. Over the past few years, opening bank accounts in Hong Kong has become very difficult but we are able to provide introductions to banks to certain clients. Please advise details of your business in advance if interested in discussing this service.

Your China Guy Hong Kong Banking Services include:

Arranging appointment with bank for account opening;
Preparing certified true copies of the company documents for bank account opening (if required);
Joining in meeting with banker, accompanied by colleague (if required); and
Follow up and discussion with banker on any outstanding issues regarding the account opening;

Please note, YCG cannot 100% guarantee bank account opening.

Do you require assistance with Hong Kong banks? YCG can help!

Background

The Hong Kong bank industry is one of the most famous throughout the world and as a leading international finance center, banks are required to adhere to Anti-Money Laundering requirements. This includes due diligence conducted when opening client accounts including 'Know Your Customer' (KYC) checks to verify not only the director but also the business background of the company. The reason is to ensure that any new account opening will be used appropriately for legal business activities.

Who Can Open a Bank Account in Hong Kong?

The following categories are permitted to open a bank account in Hong Kong:

Individuals (Personal bank accounts)
Hong Kong Registered Limited Company (Corporate bank accounts)
Overseas Registered Limited Company e.g. BVI, Seychelles etc (Corporate bank account)

How long does it take to open a Bank Account in Hong Kong?

Account opening processing times vary between banks. From experience, in the current environment, it takes at least 4 weeks and even up to 3 months to successfully open a corporate bank account. With all necessary and required documents, personal bank accounts are usually quicker.

What banks do you recommend in Hong Kong?

HSBC (Hong Kong and Shanghai Banking Corporation Limited)
Hang Seng Bank Limited
OCBC (Wing Hang) Bank Limited
DBS Bank (Hong Kong) Limited
China Construction Bank (Asia) Corporation Limited
Bank of China (Hong Kong) Limited
Dah Sing Banking Banking Group Limited

Do I need to make an appointment with bank for a corporate bank account opening?

Yes, appointments are required to open a bank account in Hong Kong. Traditional Hong Kong banks don't accept remote bank account openings. YCG can help you to make an appointment and we recommend advance notice to schedule an appoitnment.

Is it required for Directors/Shareholders to visit Hong Kong in person to open a bank account?

Yes - all directors/shareholders need to visit the bank in Hong Kong to open a bank account.

What documents need to be provided to open a bank account in Hong Kong?

For directors/shareholders interested to open a corporate bank account in Hong Kong, the following documents are required:

Original Passport & Original Residential Address Proof for all of the company Directors/Shareholders/Ultimate Owners of the Company;
Provide Business Proof with documents such as contracts, bill of lading documents, packing lists, brochures etc.

For Directors or Owners of a new Hong Kong company (who are foreign passport holders/non Hong Kong residents), details of existing company in country of residence needs to be provided so bank can verify the clients business background.

For Directors/Owners who don't have an existing business in country of residence, bank account opening is at the discretion of bank. Specific details and supporting documents to prove business plan are recommended to provide to the bank.

What are Bank Charges to open a Bank Account?

Each bank charges differently to open a bank account. The reason is due to the time involved for due diligence for Bank Account opening (unlike in most banks overseas).

Do I need to have a Hong Kong company bank account?

No - corporate bank accounts can be opened in other countries/jurisdictions and used in conjunction with a registered Hong Kong company.

Our international team consists of local partners from Australia, Spain and China. We understand international business expectations & requirements, making us best placed to provide value added services.

Our team can bring their knowledge, experience and connections to particular sectors. They understand the challenges of your industry and are committed to achieving successful results.

Our proven approach to doing business in China extends from translation services to company formation, sourcing and more. We also measure and inform you of all activity throughout the process, depending on service.

With YourChinaGuy.com, you can be assured of the following:

Completely confidential discussions with any members of our professional team;
Access to a diverse international network, on-the-ground in China - unmatched in the world;
Experienced team with integrity who are motivated, committed and creative