If you would like to set up a Hong Kong limited company and would like to open a bank account, below please find some answers to some frequently asked questions:
Who can open bank accounts in Hong Kong banks?
| If you are | Individual Person | Hong Kong Limited Company | Overseas Limited Company (e.g. Samoa, Seychelles, Belize) |
| type of account you can open | Personal bank account | Corporate bank account | Corporate bank account |
How long does it take to open a bank account in Hong Kong?
5-20 working days. Depend on which bank you are opening the account with.
What banks do you recommend in Hong Kong?
Hang Seng Bank
Bank of China
Do I need to make the appointment with the bank for corporate bank account opening?
Appointments are required for bank account opening. Startupr Hong Kong Limited can help you to arrange bank appointment for account opening. It is suggested arranging the appointment at least 3 days before the meeting with the bank officer.
Is it required for the Directors and Shareholders to attend bank meeting in Hong Kong for corporate bank account opening in Hong Kong?
Yes, all the Directors and Shareholders holding over 10% of shares of the Company should come to Hong Kong in person for bank account opening.
What documents should we provide for corporate bank account opening in Hong Kong?
1. Original passport and original residential address proof of all the Directors and Shareholders of the Company;
2. Business proof includes documents showing that your business is truly operational, such as invoices, contracts, bill of Lading, packing list, Brochure, website, business card etc;
3. Office space: for certain banks, companies must rent an office space in Hong Kong.Please note that in some cases where the Directors or owners of the new Hong Kong company are not Hong Kong residents, they should provide the bank with details of existing companies owned by themselves in their country of residence in order that the banks can verify the clients business background.If non-resident Directors do not own business in their country of residence, the banks in Hong Kong may approve the account opening if the director can provide business plan and details of their employment history explaining how their employment background is relevant to the new company’s intended activity.
Bank charge and deposit for corporate bank account opening in Hong Kong?
Normally, the bank will charge HK$1,000 for Hong Kong Company and HK$10,000 for overseas Company as their service fee for corporate bank account opening.
Initial deposit is usually Euro 1,000(HKD 10,000).
Is it compulsory for the Hong Kong Company to have the Company’s bank account in Hong Kong?
You will need a set of apostile document from the High Court in Hong Kong to open offshore bank accounts.
STARTUPR Hong Kong Limited provides services including:
1. Arrange the meeting with the bank;
2. Prepare the certified true copies of company documents for bank account opening;
3. Follow-up with the bank on outstanding issues in respect of bank account opening.
BANK ACCOUNT OPENING DISCLAIMER:
Please note that the final decision for bank account opening for the company depends on the bank after reviewing the business activities and due diligence documents. Startupr itself is neither responsible nor liable for any bank’s decision.