FAQ for Banking Procedures​

Do I need to be in Hong Kong for bank account opening?

Yes or No. The answer depends on the bank of your choice and your company’s structure. Banks like HSBC has introduced a remote account opening program for companies with simple structure. Neo banks can also arrange account opening remotely. Please contact our staff for a free consultation.

Can I appoint someone to meet with bankers on my behalf?

No. Banks in Hong Kong need to meet with the director and shareholder. They do not meet with representatives.

What are the standard documents required by banks in Hong Kong?

The standard documents needed to open a bank account are the Certificate of incorporation, Business license, Incorporation form NNC1 and articles & associations, and the certificate of incumbency. If you use our incorporation service, these 5 documents will be prepared and provided to you by our Chartered Secretary / CPA.

What is the standard time frame for account opening in Hong Kong?

The Average account opening time is around 2 weeks. If you read information online, you can see that some people took 1 week to open an account, and some took 3 weeks or more. Why is there such a huge difference? One reason is that bankers may ask questions about your business plan during the account opening process. The faster you can provide the a detailed business plan, the faster it is for them to approve your account opening.  Please contact our incorporation team for a free consultation.

I am a premium account holder. Can bank provide express service?

Personal Banking and Corporate Banking are handled by different departments and officers. For Corporate Account Opening, there is no express service. Banks have tight AML and KYC checks for Corporate Account opening. If you need to create an account asap, the only way is to explain your business plan to the banker in details. In that way, banker will have less questions, and they can approve the account opening quickly. For easy reference, the account opening process for Neobank is usually faster than traditional bank. If you are interested in opening an account at NeoBank such as Airwallex and Payoneer, we can connect you with our designated officer

What are the documents to be prepared?

Other than the standard documents, i.e. Cetrificate of incorporation, business regisrtation license, Incorporation Form NNC1 and Articles of Association, banks want to know about your business nature, targeted customers and targeted countries. It is ideal to prepare a business plan so the banker can understand your business easily.

If bankers ask me for additional supporting documents, is it necessary to provide him?

If you ask for our opinion, the answer is Yes. Banker has full discretion in approving your application. If you refuse to provide a supporting document, they may refuse to open the account for you.

Can GSHK support me for bank account opening?

Yes, we also have bank support pack available. The cost starts at HK$4,000, and it depends on your business nature and years of your business experience.

Can I have account confirmation before I fly to Hong Kong?

Yes. We have a pre-screening service available. Documents will be reviewed in advance. Bankers will give an appointment only if the chance is moderate to high.

How fast can I know the result of the Preliminary Checking?

Pre-screening usually takes 1 week. If information is considered to be insufficient, we may ask for more documents for a second round pre-screening.

Is there a chance I pass the preliminary checking but get rejected after meeting bankers in person?

In rare occasion, this is possible. If the information presented during the interview is different to the information listed in your previous pre-screening documents, bankers can refuse to open a bank account. You may need to start the whole application again.

Is it necessary for a Hong Kong company to have a Hong Kong bank account?

No, it is not mandatory to have a Hong Kong bank account. A Hong Kong company can have its bank account in other countries. This is 100% legal.

Can I open a bank account in other jurisdictions?

Yes, you can open a bank account in other jurisdictions.

What documents do I need to open an account outside Hong Kong?

Most overseas banks will ask for apostille documents from the Hong Kong High Court. You can check with bank of your choice directly.