How to open a business bank account in Hong Kong

Considering starting a business in Hong Kong? It’s an attractive destination for foreign entrepreneurs and global businesses, thanks to its low corporate taxes, strategic location and world-class infrastructure.

If you’re planning on opening a company there as a UK entrepreneur, one of the first things you’ll need is a business bank account.
Read this guide for everything you need to know about opening a business bank account in Hong Kong.

This includes info on the process, the documents you’ll need, any costs and a rundown of expat-friendly Hong Kong banks.

We’ll also show you an alternative way to manage business finances in Hong Kong, with the powerful Wise Business multi-currency account.

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What types of corporate entities exist in Hong Kong?

The most common corporate entities used in Hong Kong are:

• Limited liability company
• Partnership
• Sole proprietorship
• Foreign company office (for existing businesses looking to set up a Hong Kong subsidiary)

The type of entity that will work best for you depends on the nature of your business.

Some business types are legally required to have their own separate corporate bank account, such as LLCs and partnerships. Even if it’s not mandatory - such as for sole proprietorships, for example - it’s still good practice to keep personal and business finances separate.

Can I open a business bank account in Hong Kong with a foreign corporate entity?

However, as Hong Kong has very strict anti-fraud laws, some banks may be reluctant to allow this - and may only accept applications from local businesses.¹

If you have a foreign registered company you may be asked to attend a face-to-face interview with the bank to discuss the nature of your business as part of what is likely to be a rigorous due diligence process.¹

What’s the process for opening a business bank account in Hong Kong?

Opening a business bank account in Hong Kong can be a little complex, especially if you’re a foreign national. This is due to the country’s strict anti-fraud and compliance rules.

The first crucial step is to gather all the required documents. Each bank will have its own account opening process and list of documents required.

However, you can expect to be asked for the following:¹

• Company documents to prove your business is properly registered (depending on the type of entity, you may be asked to provide a Business Registration Certificate, a Certificate of Incorporation and/or Articles of Association)
• Proof of identity and address for all directors, shareholders and nominees - usually a photo ID such as a passport, along with a recent utility bill
• Evidence of your business activity, such as previous banking history and a business plan containing projected expenses and revenue for the year ahead
• An organisational chart showing the company’s structure and ownership stakes
• A Board of Director resolution authorising the opening of the account.

Some banks will ask for the above documents to be certified, and/or translated if they originate from overseas.¹

To open an account, you may be able to start the application process online - it depends on the bank. Alternatively, you’ll need to schedule an appointment at a branch to submit your application form and supporting documents.

Either way, you’ll need to visit the bank in person at least once to complete Know Your Customer (KYC) verification processes¹ - this may be required for all directors, owners, major shareholders and signatories on the account.

It could be a good idea to call the bank in advance and ask for an appointment. They'll tell you which documents are required, and whether you need to visit a specific business banking centre to get started.

How long does it take to open a business bank account in Hong Kong?

The time it takes to get your new Hong Kong business account up and running can vary, depending on the bank and on the complexity of your business.

But in general, you can expect the process to take between 1 and 4 weeks. If you have a simple business structure, are a resident with a Hong Kong ID Card (HKID) and are applying at a digital bank, it could be much quicker than this - perhaps taking just a few days.¹

Can I open a business bank account as a non-resident?

It's possible to open an account in Hong Kong as a non-resident, but the range of options available will depend on where your business is registered.

You may also face a more complicated application process, and will need to schedule in at least one visit to the country to verify your identity in person at a branch of the bank.

Can I open a business bank account from abroad?

Hong Kong banks usually follow very strict procedures around account opening, and often ask for all relevant parties to attend the bank in person - although it depends on the bank.

However, one option if you’re not in Hong Kong but need to open an account is to choose a bank with a global presence. For example, HSBC - which has a presence in both the UK and Hong Kong.

It may then be possible to attend a bank branch local to you to complete the relevant documentation, with a member of your local branch staff acting as witness on behalf of the Hong Kong bank.

Can I open a business bank account online?

Although you can often start the account opening process online, and access application documents via the web, you'll usually need to present documents at a branch in person. However, it depends on the bank.

Which bank should I choose?

Hong Kong has a sophisticated financial sector and a wide range of local and international banks. All offer slightly different products, but you're likely to find something to suit your needs among the larger institutions listed below.

• HSBC
• Hang Seng Bank
• Bank of China (Hong Kong)
• Standard Chartered Bank

HSBC

As well as being a global banking superpower, HSBC is the largest bank in Hong Kong. Usefully for UK applicants, it also has a presence in the UK - this could make it a little easier to get your account open.

HSBC in Hong Kong offers a number of corporate current accounts targeted at businesses of different sizes. This includes the Business Integrated Account, HSBC Sprint Account (designed for startups), HSBC Business Direct and Business Vantage.

Unusually for Hong Kong, HSBC lets you apply for some of its accounts fully online. You can upload documents and carry out ID verification processes remotely. Alternatively, you can open an account in person at an HSBC Business Centre.²

Hang Seng Bank

Part of the HSBC group, Hang Seng Bank is another of the major local retail banks in Hong Kong.

It offers a few different business accounts to suit different types of entities, including a convenient digital account Biz Virtual+ where fees are waived for the first year (offer correct as of 10.09.25).³

Hang Seng Bank also has an Integrated Business Solutions Account, along with savings accounts, loans and investment services.

Bank of China (Hong Kong)

Bank of China (Hong Kong) is a local arm of the Chinese banking giant of the same name. It offers a wide range of banking services for businesses, which cover companies at all stages and in all industries. This includes SME in One, a suite of accounts, loans and other financial services aimed at startups and small businesses.

Although the documentation and detail required to open an account can seem complex, the specific information needed for each type of account is set out very clearly (in English) in a handy account opening guide on the bank’s website.

Standard Chartered Bank

Standard Chartered Bank is an international bank which operates in Hong Kong as well as other countries such as the UK.

The bank offers dedicated accounts and services for both SMEs and larger corporate enterprises. It also has two dedicated SME business banking centres in Hong Kong where you can get help opening your account.

Banking fees and charges

Before you open your business bank account in Hong Kong, it's important to read the terms and conditions carefully - especially the section on banking fees and charges.

It’s common to find monthly account handling charges and fixed fees for banking transactions. In some cases, business bank accounts set low monthly fees but allow you to make only a limited number of free transactions per month before being charged. In other cases there are steep monthly fees if you don’t maintain a specified minimum balance in the account. Think carefully about how you'll use the account before you commit - even when these fees look small, they can build up over time.

From time to time, most businesses need to make international money transfers - for example, to pay suppliers based overseas. Your bank might not offer the best deal on this type of transaction. This can be a costly headache, so it’s worth paying special attention to the fees applied. If your bank’s exchange rate is lower than the real mid-market rate, then you’re paying more in fees than necessary.

Use an online currency converter to check the actual value of your money before you transfer internationally.

To save on your transfers, consider using an alternative service like Wise Business. Not only does Wise already offer the mid-market exchange rate with no margins or markups, but it also has low, transparent fees, fast delivery times and a secure, trackable service.

Discover the Wise Business account

Banks aren’t the only way to manage your business finances in Hong Kong.

If you’re looking for a flexible and quick-to-open alternative, check out Wise Business. It's specially designed to cut the cost of international payments, and you can manage business finances in 40+ currencies including Hong Kong dollars (HKD) and GBP.

Cover expenses with Wise Business debit cards, make easy batch payments to employees worldwide, and integrate with business tools for easier accounting.

You can even earn a return on the money you hold in certain balances your multi-currency account with Wise Interest. Capital at risk. Growth not guaranteed. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you’re uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Sources used:

1. Statrys - Opening a Business Bank Account in Hong Kong [2025]
2. HSBC Business - HSBC Sprint Account
3. Hang Seng Bank - Biz Virtual+ Account

Sources last checked on date: 10-Sep-2025