Business China

Tips for Hong Kong Business Bank Account Opening

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Followings are the tips for opening a Business bank account in or outside Hong Kong for Chinese. 

Tips for Hong Kong Business Bank Account Opening

All directors go directly to Hong Kong for the opening procedures

  • The Banks of Hong Kong requires more than 2/3 of the directors of the company, with a share of more than 9% shareholders. Preferably all directors and shareholders must go to the bank to handle the opening procedures in person. 
  • If the account signatory or a director of the company is personnel from the mainland of China, it is necessary for him to hold a Chinese passport or a Hong Kong and Macao passport to come to Hong Kong to open an account. 
  • The directors and shareholders who can bypass the trip to Hong Kong can sign the account opening documents (known as signature witness) at the branches of Hong Kong bank in China. The head office of Hong Kong sends the documents to the branches, then opens the account. Since this kind of opening is more complex, you can check with us before opening the account.

The information required to open the business bank account 

  • Original identity document of directors of the (ID card or passport, business card); 
  • Business registration certificate (BR)
  • Certificate of Incorporation (CI)
  • Memorandum and Articles of Association (M & A)
  • Company Annual Return 
  • Latest Notification of Change of Secretary and Director (Appointment/ Cessation) (form D2A/ND2A)
  • Certificate of Change of Name 
  • Return of Allotment (Form SC1/NSC1) and/or Instrument of Transfer (if applicable)
  • Signature seal
  • Nationality proof of directors & Residential Address
  • Business plan of all shareholders, directors and authorized persons
  • Business operation information, such as confirmed order, sales contract, invoice, packing list, documentary credit, lease of office, provisional sales and purchase agreement

Time required to open an account

  • The bank documents can be signed within an hour.
  • If you open an account in Hong Kong, you can return to the mainland in the same day.
  • To open a business account for Hong Kong company and overseas company requires company file checking. The bank will immediately arrange the account opening after receiving the information of all the company's documents and the files of shareholders' and directors’.
  • After the company file checked and the bank account issued, you can deposit and start use the bank account (such as remittance, wire transfer, etc.) after you received the password.

Precautions after opening an account

  • Keep the bank statement and water bill, and the company's bills of expenditure for later use;
  • The check time is generally one to two weeks, each bank is different; 
  • Since the date of account notification, the account may begin to operate. If the account is not activated within a month, the account will be automatically cancelled; 
  • If you want to open a private account, you need to bring an original id card or passport, address certificate, and pre-deposit. 
  • All the companies that change the shareholders, change the name of the company, increase the registered capital, must submit the records of the meeting and the documents signed by the CPA to the bank; 
  • Companies that are more than a year old must submit annual reports, the meeting records and the documents should be signed by the CPA to the bank.

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