Bank Account opening appointments for company account
Hong Kong has been listed as the world’s most economically free place for the last 22 years according the the global Index of Economic Freedom. If you’re planning on opening a company in Hong Kong, you’ll find relatively low taxation, an advanced financial and services sector and a business friendly administration. What more could you wish for?
Opening a business bank account in Hong Kong can take two to three weeks and usually requires all relevant people (directors, major shareholders and nominees) to visit the bank in person. If you or other company owners will be visiting Hong Kong specifically for the purpose of opening an account, it may be worth working with an agency in advance to help assemble the documents needed.
Each bank will have its own account opening process and list of documents required. However, you can expect to be asked for the following:
- Company documents to prove your business is properly registered (depending on the type of entity, you may be asked to provide a Business Registration Certificate, a Certificate of Incorporation or Articles of Association)
- Proof of identity and address for all directors, shareholders and nominees – usually a photo ID such as a passport, along with a recent utility bill
- Evidence of your business activity, such as previous banking history or business plan
Can I open a business bank account as a non-resident?
It’s possible to open an account in Hong Kong as a non-resident, but the range of options available will depend on where your business is registered.
Hong Kong banks usually follow very strict procedures around account opening and ask for all relevant parties to attend the bank in person. However, one option if you’re not in Hong Kong but need to open an account, is to choose a bank with a global presence.
It may then be possible to attend a bank branch local to you to complete the relevant documentation, with a member of your local branch staff acting as the witness on behalf of the Hong Kong bank.
Although you can start the account opening process online, and access application documents via the web, you’ll need to present documents at a branch in person.