How to start a new bank account in Hong Kong
Keeping in mind the need of a bank account for a business.
Opening of Hong Kong-based Bank Account Start Airwallex Application Offshore Bank Account Opening
Incorporating a company in Hong Kong is exciting, but securing a business bank account is the next big hurdle. You must have one to manage all your business finances! Today, this process is much harder than it used to be due to strict global rules (AML and KYC). The old method of simply visiting a bank in Hong Kong now often fails, especially for non-residents.
The good news? You have a strategic choice! This article gives you a clear path forward by explaining six powerful alternatives—from fast online options like Fintech platforms and International Accounts to traditional HK banking appointments. We help you choose the right solution to avoid delays and successfully launch your HK business.
Online Alternatives for your Hong Kong Bank account
Here, you can choose from online solutions for overseas entrepreneurs:
1. Airwallex: Alternative to the Traditional Bank
Startupr clients can now enjoy this special offer – Airwallex’s business accounts are the perfect solution for businesses of all sizes that need to simplify global payments and financial operations. Learn more!
Business Account for Companies – Good Alternative for Bank Accounts
- Business Account for Companies – Good Alternative for Bank Accounts
- Multicurrency account (EUR, USD, AUD, GBP & HKD)
- Virtual VISA debit card
- Bank account deposits & Wire transfer
- Global cash flow management with Xero
Supporting Your E-commerce and Global Payments (Wise, PayPal, Stripe)
Clients also rely on essential payment gateways and digital transfer services for immediate transactions, which are key to managing global cash flow.
2. Wise support by Startupr
For Wise, our support focuses on providing the company document support to help you establish your access to their platform for international cross-border transactions. This aims to facilitate the international finance aspects of your Hong Kong business by equipping you with the essential documentation for your Wise application.
3. Exclusive PayPal Offer: 10% Rebate + Dedicated Support
We’ve partnered with PayPal to bring you exclusive benefits! Enjoy a 10% rebate on PayPal processing fees for the first 3 months when you sign up for a PayPal business account through our link. Plus, a dedicated PayPal Sales Representative will reach out to help you get started.
You can enjoy the free PayPal business account introduction. It is an excellent package that includes:
- Dedicated support for PayPal business account opening
- Express Paypal Business account setup and reached by Paypal Sales Representatives
- Bank Account linkage
- Paypal merchant welcome kit
- Paypal integration consultation
- Discounted PayPal transaction fee (10% rebate on the first 3 months PayPal processing fee)
Keep in mind that PayPal requires a Hong Kong bank account.
| Advantages of PayPal | Disadvantages of Paypal |
|---|---|
| Lower fees for sending money abroad | Private company unregulated by any federal banking rules. |
| Easy account opening | Able to freeze accounts without permission or approval if fraud is suspected. |
| Fast – everything online | |
| 100% guaranteed against unauthorized payments |
Traditional Options for a Hong Kong Bank Account
If online account opening methods are not viable, clients are advised to utilize the established, traditional procedures for opening an account in Hong Kong. You can choose from these alternatives:
4. Hong Kong Bank Account (meeting in Hong Kong required)
Due to the changing banking environments and the implication of strict requirements on Anti-Money Laundering and Counter-Terrorist Financing, it has not been that easy to open a Hong Kong bank account remotely compared to years ago.
To open a bank account in Hong Kong, the directors, significant controllers, bank account signatories, and shareholders of the company would have to physically present in Hong Kong to meet with the banker in order to proceed with the bank account application.
Such requirements become compulsory due to the Due Diligence and KYC (Know Your Customers) under the Banking Ordinance and Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
| Advantages of Opening of Hong Kong-based Bank Account | Disadvantages of Opening of Hong Kong-based Bank Account |
|---|---|
| Lower minimum account balance | Can apply online, but a physical meeting will be required |
| Multi-currencies bank account | More application requirements |
| RMB trade settlement | Approval less certain |
| Online banking available | |
| Credit or debit cards available | |
| Required for a PayPal account or similar payment gateways |
Opening of a Hong Kong-based Bank Account
5. Hybrid Solutions and the Physical Requirement
While the physical meeting remains the standard for a full HK bank account, some banks (like **DBS**) may offer **hybrid solutions like video conferencing** for initial KYC for non-residents. However, you must be prepared for the full physical appointment if the hybrid option is rejected.
| Advantages of Hybrid solutions | Disadvantages of Hybrid solutions |
|---|---|
| Lower minimum account balance | Can apply online, but a physical meeting will be required |
| Multi-currency bank account | More application requirements |
| RMB trade settlement | Approval less certain |
6. Bank Account in Your Own Country (do it yourself)
You may find it useful to open a corporate account for your Hong Kong firm in a different country of your choice. To do so, you’ll need to submit an application along with a set of Apostille company documents (NNC1 Incorporation form, Articles of Association, Certificate of Incorporation, Business Registration Certificate).
These apostilled documents are available for $465 USD + $115USD DHL delivery cost. They can be delivered at your address within a few days. Once you have all necessary documents, simply call or visit the bank you have chosen for your business, which is very flexible.
Before You Apply: Hong Kong Bank Account Requirements
Before approving your application, all Hong Kong banks check several key areas. They want to know:
- Your Business: What your company does and why you need the bank account.
- Your Background: The experience and history of the directors and shareholders.
- Proof of Business: They need strong documents (like contracts, agreements, or invoices) to prove your business is real and active, even if it’s a new startup. You must show evidence that you are operating or starting the company.
How to Boost Your Chances? If you are applying to a Hong Kong bank, meeting even one of the following conditions will greatly increase your chance of approval:
- The company does business or trade within Asia, especially Hong Kong or China.
- Your business has a physical office in Hong Kong, proven by a rental agreement in the company’s name.
- The director or owner has a Hong Kong Identity Card (HKID) or a working visa for Hong Kong.
- The director or owner lives in Hong Kong.
If you don’t meet any of these points, you can still apply, but you will need to provide even more detailed proof and strong reasons for needing the account. Startupr can assist in arranging a meeting with the banks in Hong Kong. If you would even like to prepare and proceed by yourself, you can read these tips: How to Prepare for Bank Appointment in Hong Kong.
What Documents Are Required to Open a Hong Kong Business Bank Account?
As mentioned above, sufficient supporting business documents are needed for bank account applications in Hong Kong. Usually business owners need to prepare the following documents for bank account application:
- Company documents – including Certificate of Incorporation, NNC1 Incorporation form, Articles of Association, latest BRC. Annual Return and Company Particulars Report will also be needed if the company is registered for more than 1 year.
- Resume (CV – Curriculum vitae) of Directors
- Experience Proof of Directors – relevant experience (i.e. former employment contracts).
- Identity documents (passport or HKID) and Proof of Address in English or Chinese of Directors – i.e. utility bill, bank statement, credit card statement issued within the last 3 months. This requirement is applied to all directors, significant controllers, bank account signatories and the shareholders of the company.
- Bank Reference letter – get a bank reference letter with the company details issued by the bank if you have an existing bank account for your current business. It must be stamped and signed by the bank officer.
- Business Supporting documents – the brief overview of the company, business description, business activities, sources of wealth/fund, names of the suppliers and customers of your business, estimated turnover and number of transactions etc.
- Business Proof – Documents that confirm the engagement of the business like business licenses, invoice from suppliers, sales contracts, office lease agreement etc.
Moreover, if you have controlled or owned another company in related business besides this, you may also provide the business documents of the existing business as well.
Startupr recommends that you give a detailed overview of your Hong Kong Company, and prepare all documents in paper format, then you are almost ready to provide and meet with the officer in the bank.
Getting Ready: Tips for Your HK Bank Account Meeting
The bank favors organized and well-prepared customers. Here are some points that would help you out:
Choosing the right bank in Hong Kong for you
There are many banks in Hong Kong providing different services and targeting different kinds of businesses. Startupr is glad to help you arrange a bank appointment with the following banks in case you worry about how to make a bank appointment without hassle:
- DBS Hong Kong
- OCBC Bank Hong Kong
- Bank Of China (BOC)
- HSBC
- Hang Seng Bank
- Standard Chartered Bank
- The Bank of East Asia (BEA)
Prepare all documents
The documents that are required have been mentioned above and they need to be presented when you are going for the meeting with the bank. You would be asked to provide sufficient documents and information to the bank about your company during the meeting.
We can assist you to arrange an appointment with certain Hong Kong banks. It takes about 7-20 working days to confirm the appointment.
Please make sure you have the bank appointment confirmed before booking the ticket for your flight to Hong Kong. You need to pay attention to the restrictions or requirements when entering Hong Kong.
Key Questions at Your Hong Kong Bank Appointment
Do not underestimate the bank officials and due diligence regulations, so keep the following answers ready:
- What is your anticipated annual turnover?
- What is your client base?
- In which countries will you sell your products?
- What is or would be the trading currency?
- How many employees do you have currently?
- What is your business address?
- How long has your firm existed?
- What is the nature of your business?
Startupr suggests you follow the business dress code and be punctual.
Also, you need to be aware that the due diligence of Hong Kong banks is strict due to the requirements of related Ordinances. To enjoy the bank opening, here’s a tip: You need to have all the right documents and be prepared.
Bank Appointment with the Bank Officer
Most banks in Hong Kong may require a physical appointment with directors/shareholders of the company. The appointments at a bank take about 1 hour, which is the time when the bank officer can know more about your business and plan by asking questions and reviewing all the documents. Afterwards, you and the officer would need to sign some forms or documents to proceed further the application.
Different banks may have different procedures, usually taking a minimum of 2-4 weeks to proceed to the last stage of the bank application. Please also keep in mind that the approval is the bank’s decision only. Startupr can only assist you in the process, but we are not responsible or liable for any bank’s decision.
How Startupr Makes Your Life Easy (Consolidated Value Proposition)
Regardless of whether you choose the fully digital alternatives or the traditional alternatives, our core goal is to eliminate uncertainty and streamline the process.
- Strategic Guidance: We help you determine whether the fastest route is Airwallex (Fintech), an Offshore International Bank, or a Traditional HK Bank Appointment.
- Digital/E-commerce Setup: We provide essential company document support for your Wise application and offer exclusive discounted packages for PayPal.
- Logistics Coordination for Traditional alternative: We assist in arranging appointments with HK banks and manage the lengthy 7-20 working day scheduling process, ensuring you do not book flights prematurely.
- International Account Introduction: We present your firm to the bank and help see your application through. We act as your company secretary to formally introduce your firm to our list of international bank partners, significantly increasing the approval rate and speeding up the application.
Certification and Translation Rules (Document Support)
- Certification rule: All documents you present to a bank must be correctly certified by an independent person (notary public, bank, or certified public accountant). Include also the name and contact details of the certifier. Startupr can assist you with document preparation – i.e., certified documents by a CPA or a notary public.
- Translation rule: All documents presented to PayPal must be in English. Any translation from other languages must be made by an authorized/certified translator. All requirements and regulations are for reference only and remain subject to change. With the help of Startupr, you will receive assistance with the tasks mentioned above.
Do not plan travel before you choose your strategy. Contact us to ensure the smoothest and fastest opening of your corporate account.
All information on this page and/or on any pages of startupregistry.hk is for reference only and remains subject to change. Startupr itself is neither responsible nor liable for any bank’s information or decision.
Last update: November 2025
