Companies need to open a bank account in Hong Kong
in order to complete the company incorporation
procedures. The account will be used to deposit the share capital
and make the necessary transactions for the company. Employees in Hong Kong and expats living here also open bank accounts
The requirements for opening a corporate bank account in Hong Kong can depend on the chosen bank branch. Clients are required to meet a specific set of criteria and businesses must be registered and approved for functioning in Hong Kong.
This step is essential for starting a business in the city and the experts at our law firm in Hong Kong
can help you with special assistance and advice for handling the necessary requirements.
Requirements for opening a bank account in Hong Kong
The documents required to open a corporate bank account in Hong Kong are the following:
- ID cards/passports of the company directors and shareholders;
proof for Hong Kong directors, shareholders or nominee directors;
- copies of company incorporation documents like the Certificate of Incorporation and/or Articles of Association;
- initial deposit.
The needed documents may differ according to the specific requirements imposed by the bank. The initial payment can vary and some banks may allow for a certain period of time to make the initial deposit after the account is open.
The amount of time needed to open a bank account in Hong Kong
may vary but the process will usually last around three weeks. Our Hong Kong law firm
can provide you with specialized assistance for all corporate matters, including opening a bank account
and other banking issues.
Banking in Hong Kong
All major credit cards are accepted in Hong Kong and the city has a wide network of ATMs. The bank charges will vary from one bank to the other and so will the specific services, like internet banking.
Banks will usually evaluate corporate bank account applications in Hong Kong
individually, according to the nature of the business. Subsidiaries and branches in Hong Kong
belonging to foreign companies will also need to comply with the requirements for opening a local bank account.
Our law firm in Hong Kong
specializes in all corporate matters and our attorneys can assist you through various procedures related to banking and business. You can contact us
for more details about our services.