How difficult is it to open a business account in Hong Kong?

Banks in Hong Kong carefully adhere to the Know-Your-Client (KYC) process, which allows them to precisely filter every application they receive. It enables every bank to appropriately determine the source of funds of their applicants and the type of transaction they should expect from them.

We can recommend two options for creating a bank account in the region:

1. If you’re a global entrepreneur, check for foreign institutions like Citibank, JP Morgan, and Barclays that can help you open a non-resident bank account. These financial institutions are working hard to create new chances for global businesses to expand in local communities.

2. Enlist the help of a register company service provider Hong Kong to help you with your company registration. It will save you time and effort because they provide pre-assessments to see if your company profile matches the preferences of their linked bank, assist you with compliance processes, and provide ways to improve the overall application for a guaranteed bank account.

When you choose the latter, you have more bank alternatives, such as HSBC, DBS, OCBC Wing Hang, Bank of China, and others, and they make the entire application process easier than if you did it yourself. Their positive working connection and expertise with the necessary documentation and procedures will increase your chances of opening a Hong Kong bank account.