How to setup Hong Kong Bank Account

The main reason for KYC (Know Your Customer) and business proof is to allow the banker understand:-

1) The reason to setup Hong Kong company and bank account;

2) It is a legitimate business of Hong Kong company.

Currently if you have your own business in trading industry, you can provide the business

proof like invoice , sales/purchase contract with the bill of lading . If you would like to own new start up business, it is necessary to provide the supporting documents explaining

the relevant background in your industry, which just like to prove that you have the network, relevant knowledge and rich experience to run the business and targe to expand your business, sometime bank will require to provide the proposal/ business plan of your business.

Each bank may set out certain requirements for non-residents. However, to complete account opening process in Hong Kong can normally take up to 1-2 months.

If bank request more information/ supporting documents during the application review, it may take longer time. And, one more thing we would like to point out here is the bank may request for the average minimum balance to keep in account all the time once the account opened, otherwise may charge the monthly fee, so that you may consider it when you choose the bank to setup account.

Whatever the solution you may choose for your Hong Kong bank account opening, it’s advised you should engage a professional service provider in Hong Kong who will help you to get everything done in advance.

With no doubt, the local knowledgeable financial advisors will always know the rules for how to open a Hong Kong bank account in the most effective manner.