Hong Kong banking is perfect for international trading because a Hong Kong bank account is available in multiple currencies and with excellent Internet banking facilities. This ensures the efficient receipt of payments from clients around the world, as well as ensuring easy funds transfers to global suppliers.

Hong Kong bank accounts are seen as a more secure long-term option for international entrepreneurs. Hong Kong retains strong banking confidentiality laws, while upholding Organisation for Economic Cooperation and Development (OECD) standards.

To enhance its status as a legitimate, reputable banking centre, Hong Kong banks impose strict 'know your client' processes and have specific due diligence requirements. Consequently, international business people should budget for Hong Kong bank account opening to be completed in four to six weeks.

Healy Consultants will prepare a complete Hong Kong bank account application within two weeks (this includes completing application forms and preparing a business plan to support the application). The bank typically takes two weeks to review and approve the application and provide Hong Kong bank account numbers. A further two weeks later the bank issues Internet passwords and ATM cards. Healy Consultants will open the Hong Kong bank account without our client needing to travel to Hong Kong. Our Firm is one of the few global professional firms that can do this.

Demand for banking in Hong Kong has been helped by the increased capital flows from West to East (see a related article here).

To open a Hong Kong bank account, clients usually have to provide the following information:

A detailed business plan giving details of the products and services to be offered by the company, an analysis of the market conditions and information on shareholders, directors and bank signatories.

Examples of contracts and invoices for the newly-incorporated company to support the application.

Recent proof of address and passport copies of the bank signatories (in English).

Procedures for opening a Hong Kong bank account involve:

Healy Consultants completing all Hong Kong bank account opening forms on your behalf. All that is required is the clients signature;

Submitting the Hong Kong bank account application form to the bank in conjunction with your company's certified incorporation documents and relevant due diligence provided by the bank signatory(ies);

Preparing a business plan explaining why you chose offshore banking in Hong Kong;

Healy Consultants attending a bank interview on your behalf, describing your global business activities and explaining why you wish to undertake banking in Hong Kong.

Paying the initial Hong Kong bank account deposit into the account, and e-mailing a scanned copy of the deposit slip to you as verification;

Healy Consultants can further assist with banking in Hong Kong by organising Internet banking facilities on your behalf;

Applying for a corporate ATM card and corporate cheque book on your behalf;

Healy Consultants receiving the credit card, ATM card and cheque book in a sealed envelope, and passing this on securely to you.

For further information on banking in Hong Kong, contact email@healyconsultants.com or call us in Hong Kong at +(852) 8331 1911.

Back to Hong Kong Company Formation page or back to International Banking.