20 HK Banks for Opening Business Account
Updated on 11 Sep 2019: Our Hong Kong business clients are opening their second business bank account in Singapore – the alternative international financial hub to HK. Some Singaporean banks allow selected business clients to open business bank account remote. Service details are here.
Updated on 16 Jul 2018: We found that some HK banks are more open to HK and overseas companies with non-HK residents directors and/or shareholders, details are here.
Update on 7 Jul 2016: HSBC HK has tightened further its commercial account opening requirement, we have seen that new entrepreneur and startups from either HK or overseas have been rejected by the bank regarding their commercial account opening. More info is available in this post.
When we come across our non-HK clients who are looking for ways of doing business in HK, we are commonly asked this question followed by “How to open a business bank account in HK?”
We select the banks in HK, they are offering commercial banking services to both HK and non-HK small to medium enterprises (SME).
You may wonder some famous banks in your home country are not listed, very likely that these banks serve special clients or engage in wholesale banking in HK.
If you are an existing customer of any banks in your home country, feel free to let us know, so we can check if these banks have operations in HK.
An important reminder to non-HK residents:
- Due to the stringent Know-Your-Customer policy of the banks, the future bank account owners (i.e. major company directors, shareholders, and account signatory(ies)) must be physically present in HK to take part in the interview with the bankers (titled as Relationship Manager, usually).
- A bank interview is a formal meeting, the bankers have to questions every aspect of your application, you will be asked to explain your business nature and model, source of income, member and shareholding structure, etc. Make sure you leave no suspicion to the bankers and do not provide misleading or faulty information.
- Some sort of businesses are legal in your place of operation but are illegal in HK. You are welcome to leave a message to us, and we can check this matter for you in advance.
- The nationality of the business owners and place of incorporation of your corporation are matter. If applicants are originated from or closely related to the countries which are somehow perceived as “high-risk“, application are likely to be rejected. No banks admit the list of the high-risk countries exists, but we observed that some names of countries will trigger the FAIL button when the countries are named as noncompliant with global AML/CFT standards.
- Never go for a walk-in application of your corporate bank account. Although the banks have excessive branches, most of them are offering only retail banking services. You have to contact the bank and make an appointment, so the bank can assign a banker to follow your application.
- Avoid leaving bad records in banks. Once your application for account opening officially begins, everything you have submitted to the bank is kept for future reference. If your application is rejected, you will leave a record that will degrade your future application in the same bank. Seeking help from us before you contact the bank, our bank account opening intermediary service can study your application, at least avoid all the difficult banks and increase your chance of successful corporate bank account opening.
A general list of HK banks serving non-HK SME:
Below are links to the banks’ websites of their commercial banking services. Firstly, you may look for an online form to apply or make an appointment, if you can’t find the form, go to the page of Contact Us and reach them by email or phone. We recommend phone calling the banks to schedule appointments for faster services. The majority of local banks reject walk-in commercial applicants of account opening, be sure to schedule your appointment in advance.
- Bank of China (HK) – make an appointment
- Bank of East Asia
- Bank of Communications (HK)
- China Citic Bank International
- China Construction Bank (Asia)
- Chiyu Banking Corporation Ltd.
- Chong Hing Bank
- CitiBank HK
- Dah Sing Bank
- Fubon Bank
- Hang Seng Bank
- HSBC (HK)
- Industrial and Commercial Banking of China (Asia)
- Nanyang Commercial Bank
- OCBC Wing Hang
- Public Bank (HK)
- Shanghai Commercial Bank
- Standard Chartered Bank (HK)
- Wing Lung Bank
You may know details of our HK corporate bank account opening package, we guarantee to refund (up to 100%) our service fee regarding local bank account opening arrangements to our clients if no-win.
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