Opening a corporate bank account is a relatively simple and straightforward procedure in Hong Kong. Companies can choose any international and local banks for opening a bank account in Hong Kong. Banks usually offer excellent cash management facilities, internet banking that helps keep track of money movements, trade financing, short term and long term loans which are key finance requirements of any enterprise.
Most of the world’s major banks have a presence in Hong Kong. Prior to finalizing a bank for opening your company account, it is important to consider factors such as bank reputation, services and facilities offered, availability of future support services such as loans or trade financing; minimum deposit requirement etc.
Documents Required
In general the documents required for opening a company bank account are:
- Board resolution approving the opening of bank account
- Copy of Certificate of Incorporation
- Copy of Business Registration Certificate
- Copy of Memorandum and Articles of Association
- Copies of identity card or passport and residential proof such as utility bills, bank statements, driving licence etc of all directors, principal shareholders, beneficial owners of corporate shareholders, authorized signers
- Business proof such as business plan
- Organisation chart if there is a corporate shareholder
Other Requirements
Documents not in the English or Chinese language must be translated into English or Chinese.
Copies of all documents must be certified by either a certified public accountant, chartered secretary, lawyer or banker.
Banks follow strict due diligence procedures and may require the authorized signers, the majority directors and shareholders to be attend an interview at the time of opening the account.
If you require more information or an introduction to open a bank account, please contact our 24-hour online support at enquiry@budgetaccounts.com.hk.
