Opening a Corporate Bank Account in Hong Kong
Hong Kong is one of the world's leading financial centres, offering businesses a reliable banking infrastructure and convenient international payment instruments. However, the process of opening a corporate account in local banks requires careful preparation, especially if the company has foreign beneficiaries or a complex ownership structure.
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Benefits of a bank account and how to increase your chances of getting one
What are the benefits of having a bank account in Hong Kong for a business?
Access to the international financial center
Hong Kong banks support multi-currency accounts, SWIFT payments and offer convenient solutions for international business.
Ease of operation
Remote online banking, integration with accounting systems and automated payment management.
Opportunity to work with Asian markets
Hong Kong is one of the main hubs for trade with China and other Asian countries.
Low taxes and flexibility
Hong Kong's tax system is favourable for international business, with corporate tax rates as low as 8.25%.
What difficulties might you encounter?
Strict requirements of banks
Banks require confirmation of the company's economic ties to Hong Kong (office rent, contracts with local partners, presence of employees, etc.)
High requirements for beneficiaries
If there are CIS citizens among the company owners, the process may be delayed, and some banks may refuse to open an account.
The need for personal presence
Many banks require the company director or beneficiary to visit Hong Kong to submit documents and undergo an interview with a bank manager.
Hidden fees
Some banks require deposits to open an account or charge fees for international transfers.
"In practice, each bank applies its own compliance check criteria. In Hong Kong, banks pay special attention to the actual business activity of the company, the origin of funds and the transparency of the corporate structure. In our practice, there have been cases when companies with an excellent reputation had to provide a detailed business plan, contracts with counterparties and even confirmation of office presence in order to successfully pass the bank's compliance." Eleonora Lapina. Юрист
How to increase the chance of opening an account?
Prepare a presentation about the company
Clear description of the business model.
Prepare a resume of the founder and director
Confirmation of their experience and professional reputation.
Submit a detailed business plan
With calculations, turnover, list of clients and suppliers.
Provide evidence of real economic activity
Contracts, invoices from partners.
Who is Hong Kong suitable for?
Unlike Singapore, which is heavily regulated, and mainland China, where administrative barriers can be a major obstacle to overseas business, Hong Kong offers a unique combination of flexibility, transparency and legal stability. Hong Kong is a harmonious blend of Eastern and Western business practices.
Payment systems (EMI)
If opening an account with a traditional bank is difficult, you can consider electronic payment systems (EMI). They allow you to open accounts remotely and manage international payments without strict banking requirements. Their advantages:
Remote account opening
There is no need to be present in person
Flexible conditions
There are no strict requirements for deposits and turnovers
Possibility of issuing corporate cards
Convenience of financial management
Account opening process
Stage 1
Collection of necessary documents
Remotely
We help collect the necessary documents and check that the documents meet the bank's requirements.
The standard package of documents includes:
- Passport of the founder and director.
- Confirmation of the residential address of the founder and director (preferably outside the Russian Federation).
- Bank statement of the founder for the last 6 months.
- Proof of source of income (tax return, employment contract, etc.)
- The company's constituent documents – Memorandum and Articles of Association, Certificate of Incorporation, etc.
- Translations and apostille of documents are mandatory for some jurisdictions.
Additionally, the bank may request contracts with counterparties, a business plan, and information about beneficiaries.
Stage 2
Submitting an application
Remotely or in person
In some cases, remote registration is possible, but more often the personal presence of the director is required.
Stage 3
Passing the test
Remotely
These are mainly anti-money laundering (AML) checks and bank compliance (KYC): the bank checks documents and business owners.
Additional references, proof of income, or detailed information about funding sources may be required.
Stage 4
Opening an account
Remotely or in person
You receive details (IBAN, SWIFT), access to online banking and, if necessary, corporate cards.
Stage 5
Account replenishment
Remotely or in person
The initial deposit is an important factor that affects the speed of account activation.
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Why do more than 100 clients contact us every year?
Full support
From collecting documents and visiting government agencies to obtaining a resident visa for founders and employees
Exactly according to the client's task
We open a company in a suitable jurisdiction and with the required form of registration, minimizing risks
We continue to help businesses
We not only open a company, but also provide expert legal, tax and accounting support for business
Team of experts
The team consists of 150+ experts who have successfully implemented more than 1000 projects in the UAE, USA, EU, Asia, other countries and regions.
Our other services in UAE
Company Registration in Hong Kong
Company Registration in Hong Kong
Visa Application for a Company Manager in Hong Kong
Visa Application for a Company Manager in Hong Kong
About Versus
Versus is a leading consulting group providing legal and accounting services in key foreign markets.
Over the years of working in the UAE and other MENA countries, we have acquired a deep knowledge of local legislation, which, combined with knowledge of international standards, allows us to offer solutions tailored to the unique needs of each client.
20+
Experts in offices in Dubai and Abu Dhabi
250+
Successfully completed projects on the law of the UAE and other countries of the MENA region
