Kindly note that is a requirement from Hong Kong Bank Ordinance for all banks in Hong Kong that all the directors, shareholders, beneficial owners (and Nominees if any) have to visit Hong Kong to meet with the bank in order to open bank account in Hong Kong.
If your business is not at least 50% related to China/Hong Kong there is quite no chance corporate bank accountopening approval.
What banks do you recommend in Hong Kong?
HSBC Group (Hong Kong and Shanghai Banking Corporation Limited) is the biggest player in the market, and Hang Seng Bank, majority owned by HSBC, is the second largest. For commercial banking for your offshore company, you will likely end up at one of these two banks. There are other large commercial banks in Hong Kong, such as Bank of China, DBS and Standard Chartered however in our experience, they are a lot less willing than HSBC to open accounts for non-residents of Hong Kong.
Our bank partner OCBC Wing Hang and Bank of East Asia will be choice offered in our company formation package offers as they will provide corporate bank opening to serious business men that will provide business plan, business proofs, resume of Directors and Shareholders from non OFAC santionned countries or UN sanctionned countries that will meet their requirements and KYC process.
HOW TO OPEN CORPORATE BANK ACCOUNT IN HONG KONG?
Banks in Hong Kong may change policy in bank account opening requirements without prior notice.
PENA LIMITED bank account opening assistance service for Hong Kong newly incorporated companies is still subject to final approval of the bank and PENA LIMITED does not take up responsibility of any client loss due to unsuccessful bank account opening process.
Banks usually refuse client with nationality on this list: Non-Cooperative Countries and Territories
Who can open corporate bank account for Hong Kong Private Limited Company and how long does it takes to open bank accounts?
We offer bank account opening assistance service in Hong Kong. Client can choose any bank. Nethertheless we recommand HSBC bank who belongs the best international overseas branch network and internet banking service and OCBC Wing Hang.
According to the policy and regulation of Hong Kong Bank Ordinance, all director(s), shareholder(s), beneficial owner(s) and Nomine(s) if any must come in person for corporate bank account opening. Appointment must be booked 2 weeks in advance as Banks do not accept walk in interview for corporate bank account opening and all process will take approximately around 2 weeks to 3 weeks for the whole corporate bank account opening approval process.
What documents are required to open Bank or Investment Account in overseas?
Client may open bank account or investment account in different countries. Banks usually request to know complete information about the company and need those documents to be apostilled (certified by 2 levels: notarized by a Hong Kong lawyer first; and then Apostilled by Court in Hong Kong):
- Identity of company director/client;
- Certficate of Incorporation;
- Business Registration Certificate;
- Certificate of Good Standing (Certificate of Continuing Registration);
- Minutes to open account authorizing signatory.