Merchant account

Hong Kong company with merchant account

guide to register for merchant account with an offshore companyHealy Consultants provides our Clients with global merchant account solutions. Our most popular package includes the formation of a legally tax-exempt company in Hong Kong, with a local corporate bank account and merchant account. Our Clients will then be able to receive global payments by payment cards channeled through their Hong Kong company and then remitted to their country of residence.

Please click on the headers below for additional information on the different components of the package on our fees to engineer it.

  • The legally tax-exempt Hong Kong company

    • Healy Consultants can complete your Hong Kong company setup within 1 week. The process will only require;
      • A minimum paid-up capital of only US$1;
      • One shareholder and director, who can both be foreigners and live outside of Hong Kong, and;
      • Our Clients will not have to travel to complete company formation;

    • There is no legal requirement to provide a lease agreement in order to incorporate and operate a company in Hong Kong;
    • If needed, Healy Consultants will be pleased to offer virtual office services and assist our Client to hire local employees;
    • For more information on the legally tax-exempt Hong Kong company, refer to this offshore page.
  • Hong Kong corporate bank account

    • In order to secure a merchant account for your business in Hong Kong, the company must firstly open a local corporate bank account. Healy Consultants will assist our Client to complete the same with a top tier Hong Kong bank. Refer to this banking option page for an overview of our recommended banks in Hong Kong;
    • Hong Kong banks require all signatories to travel to Hong Kong for a one-hour bank meeting before approval and issuance of new corporate bank account numbers. Healy Consultants can however negotiate a legal solution to avoid travel requirements for our Clients who do not have the time to travel to Hong Kong. Kindly contact us for further details;
    • Most banks in Hong Kong require a minimum bank account balance of as low as HK$30,000 (US$4,000) with a monthly service fee of HK$100 (US$10) for balances below the required minimum;
    • Hong Kong’s quality of banking industry regulation is highly reputed and the identities of account holders and transaction information is subject to high standards of confidentiality. You may refer to this banking page for further information on corporate banking and other banking services in Hong Kong.
  • Hong Kong merchant account

    Securing a merchant account in Hong Kong can be a nightmare for newly established online businesses. Healy Consultants works closely with some of the leading banks and providers to offer our Clients merchant account solutions for their Hong Kong based companies;

    Our collaborative banks offer our Clients a full spectrum of competitive and innovative payment solutions capturing every sales opportunity and enabling our Clients’ businesses to stay ahead of competition.

    Some of the advantages of a Hong Kong merchant account include:

    • Availability of an all-inclusive online payment package with services including i) sales authorization ii) funds payment and iii) successful transaction reporting;
    • Merchant services accepting payments from a wide rand of cards namely i) MasterCard ii) Visa iii) American Express iv) EPS cards v) Diners Club, among others;
    • Fast and direct crediting of our Client’s business payments into their Hong Kong corporate bank account;
    • Availability of dedicated merchant services with a 24hour transaction authorization hotline and technical support;
    • A comprehensive web based reporting tool enabling our Clients to have access to their businesses’ online transactions and payments.
  • Hong Kong accounting and tax

    Hong Kong entities are attractive vehicles to legally reduce taxation because:

    • Profits sourced from outside of Hong Kong are legally tax-exempt. Profits sourced from within Hong Kong are taxed at a competitive rate of 16.5%;
    • No withholding tax is payable on dividends, interest and directorship fees remitted abroad;
    • There is no requirement to register for VAT or GST, as such taxes do not exist in Hong Kong;
    • Hong Kong has also concluded favorable double tax avoidance agreements with EU countries whereby a subsidiary of a foreign company may enjoy very tax efficient solutions.

    The administrative obligations of a Hong Kong company include:

    • Filing of their first annual financial statements within fifteen months after the date of incorporation;
    • Actively trading companies must file annual audited financial statements;
    • Penalties may be imposed of companies’ failure to comply with the Hong Kong Inland Revenue Ordinance;
    • Kindly refer to this tax page for more information on Hong Kong accounting and tax requirements.
  • Our fees

    • Our total fees for the engagement amount to US$11,500 including i) Hong Kong company formation services ii) company secretary and legal registered office iii) Hong Kong corporate bank account opening services and iv) merchant account opening services fees. Kindly refer to the invoice below for a detailed breakdown of our fees.
    ServiceHong Kong company with merchant account
    Engagement planning1 week
    Company incorporation period1 week
    Bank account approval3 weeks
    Internet banking approval1 week
    Merchant account approval2 weeks
    Engagement completion1 week
    Total engagement period9 weeks

  • Merchant account options

     Option 1Option 2Option 3Option 4Option 5
    Transaction fee3.4%3.5%4%3.99%US$0.35
    Cross border fee3.9%2.9%None3.4%None
    Foreign spread currencyNoneNoneNoneNoneNone
    Chargeback feeUS$10US$15NoneUS$25US$25
    Refund fee0.5%0.8%None1.2%US$0.35
    How long to setup account?1 day4 weeks4 weeks4 weeks2 weeks
    Timeframe to receive customer card transactions?1 day1 day7 days14 days7 days
    Multiple currencies allowed?YesYesYesYesYes
    Multi-user access allowedYesYesYesYesYes
    Customer chargeback allowedYesYesYesYesYes
    Visa cardYesYesYesYesYes
    Master cardYesYesYesYesYes
    American ExpressYesYesYesYesYes
    Diners ClubYesNoYesNoYes
    Discover NovusYesNoYesNoYes

Contact us

For additional information on our merchant account services in Hong Kong, please email us at Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
hk-register hk-cpa hk-hktdc hk-hkgc hk-invest hk-government Hong Kong Tourism hk-immigration