As one of financial centres in the world, Hong Kong is an ideal place for making investment and opening bank accounts for investors. However, banks have different requirements on the formalities for and necessary information on opening accounts. A company’s director may have to spend additional time in making enquiries to the bank for this as he may fail to provide necessary information or is unfamiliar with the procedures for bank account opening, which may cause a waste of time for them.
Conpak has established a strong business relationship with Hong Kong’s international banks and courteously provide bank account opening service in Hong Kong. We will handle for enterprises the formalities for opening bank accounts with international banks in Hong Kong and assist them in making appointments with banks and the preparation for relevant documents needed, depending on the actual circumstances of such enterprise . The documents needed may include certified documents from accountants (issued by certified public accountants of Hong Kong), business licenses, director’s declarations and minutes of the board of directors.
Advantages of Opening Bank Account in Hong Kong
- No restriction on foreign exchange remittance, free transfer of funds
- Convenience in settlement of international trades
- No interest tax with a higher actual revenues of deposits
- Free conversion of currencies
- Convenient daily account operation and online bank transactions
- Convenience in getting trade financing from international banks
Required Documents
- Company registration particulars, such as Company Registration Certificate, Business Registration Certificate, Articles of Association, Incorporation Form or Annual Return, etc.
- Identification of shareholders, directors and signers and proof of address in the last 3 months
- Business certification particulars, such as orders, purchase and sales invoices, contracts, bills of lading, etc.
- Registration particulars of affiliated company
- Personal and affiliated company’s bank transaction records in the last 3 months
- Visa or Master credit cards
Methods of Opening Bank Account in Hong Kong
- By visiting a bank in person: The directors visit a bank in Hong Kong in person. Under normal circumstances, the signature documents required for opening an account can be completed on the same day. The account opening is expected to be completed within 20 working days (specifically depending on the bank’s approval time).
- By video conference: The directors visit the Hong Kong banks branch in mainland China. The process is witnessed by the staff of the branch. It takes 30 working days to open an account (specifically depending on the bank’s approval time).
Procedures for Opening Bank Account in Hong Kong
- Submit a bank account opening application
- Approval by the Due Diligence Department of the bank
- The final account number is issued upon approval from the due diligence
- Deliver a cheque Book
- Deliver passwords for online banking
- Activate online banking password
- First time online banking registration service
- Deliver or obtain ATM card and password
- Deposit start-up funds
Consult now
If you have any enquiries or comments, please fill in the following form, our set up an account colleagues will reply as soon as possible.
