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Open a Bank Account in Hong Kong| Bank Account Opening

Hong Kong is an international business hub and a gateway to China for many foreign companies – continues to be an attractive destination among foreign investors.

Opening a bank account in Hong Kong is often a vital first step to establishing business presence in Hong Kong. It is therefore important for foreign investors to understand the procedures and documents required in order to be successful in doing so.

Guide on setting up a bank account in Hongkong

Internal policies usually dictate the internal practices of a bank, meaning that the procedure and requirements can vary from bank to bank or even branch to branch. However, generally the following procedure can be expected:

Most banks will require you to make an initial appointment:
1.Following this, a preliminary review is usually conducted.
2.If the preliminary review is passed, both parties will meet to sign the relevant bank application forms and documents, as well as paying the initial deposit.
3.At this stage, the bank manager will send the application for a department review which normally takes approximately one to two months. It is not uncommon for the review department to require further supporting documents before finally opening a new bank account on your behalf.

What are the documents required?
the documents that are generally required are as follows:
1.Company documents: Business Registration Certificate; Certificate of Incorporation; Articles of Association; and NNC1 or NAR1 form.
2.Proof of Business: documents required here are less clear, but generally include evidence of the nature of the business, experience in the industry etc. For example, issued/received invoices, business plan description, agreement with suppliers, bank reference letter and website.
3.Personal documents: passport; and residency proof(e.g. utility bill, electricity bill or bank statement which are less than three months old and include your address and your name).
 
 

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