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Opening a bank account in Hong Kong is relatively easy if you have all the correct documentation. You do not need to be resident or have a work visa to open a bank account. You may choose to open a corporate account for personal privacy or business reasons, however that will require more documentation and time than opening a personal account. Overall though, setting up a bank account in Hong Kong for personal or business use is a simple process.

Personal Accounts

To open a personal account you will need to provide proof of your address. If you reside in Hong Kong you need proof of your local address, such as a utility bill and an Identity Card or other official ID. Non residents need to provide a passport or other official form of ID and proof of their address in their home country. Often the bank will then mail a letter to the address you provide which you then show to the bank when you open the account.

If you choose an international bank you can open a personal account with an international bank that has offices locally and in your country of residence. If you choose a local Hong Kong bank you will typically be required to be physically present to open an account.

Corporate Accounts

To open a corporate bank account most banks will require private limited companies and offshore companies to submit the following documents and information:

  • A board resolution authorizing and approving the opening of a bank account and an account application completed and signed as authorized in the resolution.
  • Certified copies of the business’ Certificate of Incorporation, issued by the Hong Kong Companies Registry, Business Registration Certificate, issued by the Hong Kong Inland Revenue Department, and the business’ Articles of Association (MAA)
  • A declaration including the personal information for the company directors and principal shareholders owning 10% or more of the company, including beneficial owners, and for each director and principal shareholder and authorized signatory
  • An H.K. identity card or passport
  • Proof of residence
  • Sample signatures of the authorized signatories and a bank reference letter
  • A certified organization chart showing the percentage of shares held by each shareholder and beneficial owner of the company
  • If ultimate beneficiaries are trusts a certified copy of the trust deed with identification information for the trustees, settlers and beneficiaries
  • Audited financial statements if an ongoing business or a business plan if a new business
  • Offshore companies will need a Certificate of Incumbency and Certificate of Good Standing.

Hong Kong banks typically require the account signatories, principal directors and shareholders to be present at the time the corporate bank account is opened. However, banks with overseas offices may open a corporate bank account at one the bank’s overseas branches.

Specific documentation requirements vary depending on the bank. Once you select the bank with which you want to do business check with that bank for their specific documentation requirements.

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