Hong Kong

corporate Bank Account

Opening a business bank account in Hong Kong

Hong Kong boasts one of the world's largest and most fiercely competitive financial hubs, maintaining a consistent presence in the top 5 global financial centers alongside London, New York, Singapore, and Amsterdam.

Hong Kong's top-tier global financial center status is attributed to its strategic location in Asia, offering easy access to major markets. The city’s location at the crossroads of East Asia makes it a convenient gateway for international businesses seeking to access markets in China and the Asia-Pacific region. Its proximity to major economies, such as China, Japan, South Korea, and Southeast Asian countries, facilitates trade and investment flows.

Hong Kong’s free-market economy, supported by a transparent legal system based on English common law, fosters a business-friendly environment for free trade. This business-friendly environment attracts multinational corporations, financial institutions, and investors. The city’s well-developed infrastructure further enhances its appeal as a global financial hub.

Given Hong Kong's establishment as a global financial hub with a highly developed banking industry, it holds significant appeal for individuals and non-resident companies, including offshore entities, in need of banking services catering to diverse needs like international trade, investment, and wealth management.

In addition, Hong Kong is widely regarded as one of the world's most reputable and prominent financial centers, and many banks in Hong Kong have historically maintained high credit ratings from prominent credit rating agencies.

The largest banks in Hong Kong are considered local banks in the sense that they have a significant presence and history in Hong Kong, even though some of them are subsidiaries of larger international banking groups, including HSBC, Bank of China, Standard Chartered, OCBC Wing Hang, and DBS.

Local banks in Hong Kong, as well as international banks with a presence in the region, offer a variety of services to companies operating in Hong Kong and offshore companies, such as business accounts, trade finance, cash management, investment, and wealth management, as well as corporate credit cards and merchant services. Businesses utilizing banking services in Hong Kong can enjoy access to fast and cost-effective money transfer solutions.

Each of these banks provides multi-currency accounts, that include a range of prominent currencies like USD, EUR, GBP, CHF, AUD, CAD, and even HKD. Their distinguished correspondent banking affiliations, along with their overseas branches, streamline global transactions involving foreign currencies. The majority of banks also extend offerings such as short-term fixed deposits and various short-term government and bank securities to corporate clients, allowing them to generate returns from surplus cash reserves. Import/Export companies will have access to top trade finance services such as Letter of Credit and Bank guarantees.

Hong Kong online businesses with HK bank accounts also have access to a broad range of merchant accounts and credit card processing aggregators.

In addition to the advanced financial infrastructure and modern banking services described above, there is a well-developed stock exchange (Hong Kong Stock Exchange, or HKEX).

We work with 4 different banks in Hong Kong, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.

Bank Accounts in Hong Kong

click the bank for more details

Bank of China

Account Details

Corporate
Not Required
HKD 100,000

DBS Bank

Account Details

Corporate
Not Required
HKD 200,000

ICICI Bank

Account Details

Corporate
Not Required
HKD 20,000

Eligibility

OCBC

Account Details

Corporate
Not Required
HKD 20,000

Eligibility

EMI options in Hong Kong

click the bank for more details

Airwallex

Account Details

Corporate
Not Required
N/A

Eligibility

Currenxie

Account Details

Corporate
Not Required
N/A

Eligibility

Account Details

Corporate
Not Required
N/A

Eligibility

Country Details

Hong Kong
HKD
Hong Kong
Asia
6,898,686

Hong Kong is a Special Administrative Region of the People’s Republic of China (Hong Kong SAR). Its official languages are English and Cantonese.

Although it is part of the People’s Republic of China, the region maintains an independent economic, administrative and judicial system, and even its own currency, the system of customs and external borders. Its official legal tender currency is the Hong Kong Dollar (HKD), pegged to the USD, which is the ninth most traded currency worldwide.

The legislative council is the Hong Kong Parliament, which is formed by 60-members, half elected by universal suffrage in geographical circumscriptions, while the other 30 are elected by groups of representatives from different economic and social sectors.

Its public finances are characterized by its sustainability, with no public net debt, continuous government surplus and ample foreign exchange reserves, all supported by rigorous anti-corruption measures.

Hong Kong’s economy is mainly based on financial services, tourism, wholesale and retail trade, and international trade, especially trade between China and the rest of the world. Hong Kong is one of the world’s major financial hub, ranking eleventh worldwide in the volume of banking operations and the Hong Kong Stock Exchange being the second largest capital market in Asia, after the Tokyo Stock Exchange.

Services

Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.

Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (30% to partly cover service and payment processing and administrative costs apply).

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