Can the account be opened without a visit?

Online, via the Business inMotion app, only a Hong Kong company whose related persons all hold an HKID or a mainland China resident ID can apply. Everyone else books a branch appointment. In our experience, companies with non-resident owners can open only with the director’s personal visit.

How long does opening take?

Usually several months. The start depends on how quickly the client provides the documents: the clock starts when the bank has the full set.

Why is CITIC convenient for working with China?

The parent China CITIC Bank is CNCBI’s major clearing bank for cross-border renminbi settlement; RMB transfers to and from cities in mainland China go through its network. In our experience, the bank is well integrated with mainland China.

Why might the bank ask to open a personal account too?

For clients from sensitive jurisdictions, CITIC, in our experience, opens corporate and personal accounts only together. Which jurisdictions the bank considers sensitive and on what terms the personal account is opened, we clarify before applying.

Do you apply on the company’s behalf?

No: the company applies itself. CITIC states that it does not use referral agents and pays them no fees. We prepare the file, the business model description and the director for the visit, and handle the bank’s requests.

In which currencies can funds be held?

The multi-currency savings account — up to 12 currencies: HKD, USD, RMB, EUR, GBP, JPY, AUD, CAD, NZD, SGD, CHF and the Norwegian krone. The current account — in HKD and USD.

What happens if the account sits idle?

If there are no transactions across all the company’s accounts for 12 months, the bank charges HK$300 in June and December, and if the average balance is below HK$50,000 — another HK$300 a month. A long idle period invites questions at the review.

Are the company’s funds protected?

Yes, within the limit: CITIC Bank International is a member of Hong Kong’s Deposit Protection Scheme, up to HK$800,000 per depositor, including company accounts. Insurance policies are not covered by the scheme — how CITIC’s insurance product is structured, we clarify before applying.

Since 1922

The bank grew out of Ka Wah Bank, founded in 1922; its current name dates from November 2012. 75% is owned by the China CITIC Bank group.

Elizaveta Germash

Bank accounts

CITIC — is it worth applying?

Message us on WhatsApp

Bank account opening

An account at CITIC Bank International — for business with mainland China

Q: What is the insurance product instead of a deposit?

In our experience, CITIC asks you to take out an insurance product with a contribution of USD 20,000 a year for five years — USD 100,000 in commitments in total. In our experience, the bank calls it a deposit insurance product; it is not in the tariff. The bank gives the product name, refund and exit terms on request — we clarify them before applying.

Q: How much does it cost to apply?

Under the tariff — HK$1,200 for a Hong Kong company and HK$10,000 for an overseas one, plus a company search: HK$300 or from HK$2,000. A “special” company pays another HK$10,000. The fee is not refunded if rejected. In our experience, the bank quotes a company search fee of HKD 11,500; there is no such line in the tariff, so we ask the bank what it covers before applying.

China CITIC Bank International is a Hong Kong bank in the China CITIC Bank group. It is closely tied to mainland China and, in our experience, opens an account for a Hong Kong company only with the director’s visit, and instead of a regular deposit asks for an insurance product — USD 20,000 a year for five years.

Message us on WhatsApp

USD 20,000
A year for five years — insurance product, in our experience: HK$1,200
Application for a Hong Kong company; overseas — HK$10,000: HK$50,000
Monthly average balance; below it — a HK$300 fee: Months
Typical review time — several months

Other banks in Hong Kong

All banks in Hong Kong

In short

In our experience, China CITIC Bank International opens a Hong Kong company account only with the director’s visit and asks for an insurance product instead of a deposit: USD 20,000 a year for five years. The application is HK$1,200, HK$10,000 for an overseas company; review usually takes several months.

Checked 18 October 2026 · Elizaveta Germash

Cost of a mistake

+HK$10,000

The extra charge on the application for a “special” company — with a trust or three or more ownership layers; it is not refunded if rejected.

How to avoid it

CITIC — a bank for business linked to mainland China

CITIC Bank International expects a real link to China or Asia and examines the business model in detail. The entry threshold is unusual: in our experience, an insurance product of USD 20,000 a year for five years.

A China link is a condition
KYC, company documents, proof of business activity and a description of the business model. Trading and logistics; other activities — by agreement.
Insurance product
Instead of a regular deposit — a commitment of USD 20,000 a year for five years, USD 100,000 in total. We clarify the product terms with the bank before applying.
Tariff by company type
The application fee is HK$1,200 for a Hong Kong company and HK$10,000 for an overseas one. Money services, jewellery, three or more ownership layers or a trust — another HK$10,000.
Payments under scrutiny
The bank looks at international transfers more closely than usual. Access — 1 token, Business Internet Banking and the Business inMotion app.

Who it suits

Who it suits — and when to choose something else

A good fit if

01Your suppliers or buyers are in mainland China, with settlements in renminbi.
02You have a Hong Kong company with a clear business model.
03You are ready for the insurance product of USD 20,000 a year for five years.
04Your business is trading or logistics.
05Timing is not urgent: the review usually takes several months.

Consider something else if

01You need the account faster and your China link is weak — in our experience HSBC opens in 6–8 weeks, and its terms carry no mandatory link to the region.HSBC
02You are not ready to take on a USD 100,000 commitment over five years — OCBC expects an average balance of HK$100,000 or more.OCBC
03You need an account without the director’s visit — some banks in China open an NRA account remotely.China

Bank dossier

CITIC Bank International — terms, tariffs and restrictions

Terms are based on our experience, tariffs on China CITIC Bank International’s fee schedule.

China CITIC Bank International

Hong Kong bank in the China CITIC Bank group · formerly Ka Wah Bank

China link
Director’s visit
USD 20,000 a year
Several months

Account type: Corporate account for a Hong Kong company; personal account
Currencies: USD, EUR, HKD, CNY, others on request; up to 12 currencies on the savings account
Business activity: Trading, logistics; other — by agreement
Opening: Director’s personal visit only
Timeline: Usually several months from the full set
Deposit: Insurance product: USD 20,000 a year, 5 years — USD 100,000

Terms reflect our team’s experience as of October 2026; tariffs follow CNCBI’s Bank Service Fees and Charges effective 27 February 2026. The bank has the final say.

Benefits

What you get

The China link — on paper

We gather contracts, invoices and shipping documents with counterparties in China or Asia — this is how you prove the link to the region that CITIC requires.

Business model description

We prepare a description: what you sell, to whom, where supplies come from and how the money flows. A business model description is among CITIC’s client requirements.

Structure versus tariff

We show when a company becomes a “special” one — three ownership layers, a trust, money services — and pays another HK$10,000.

Bank terms before applying

We clarify the insurance product terms and the others the bank discloses on request — before you take on the commitment.

Preparing for the visit

The director comes to the branch with the documents and answers about suppliers, clients and the money trail.

Status in the client portal

Stages, bank requests and documents — all in one portal. You can see whose move it is.

After opening

What a CITIC account costs after opening

The main item is not the bank’s tariffs but the five-year insurance product. Amounts are based on our experience and the bank’s fee schedule, indicative as of October 2026; the bank has the final say.

Main commitment

USD 20,000 a year

A five-year insurance product — USD 100,000 in total; in our experience as of October 2026.

Recurring costs

Insurance productUSD 20,000/year, 5 years
Average balance below HK$50,000HK$300/month
12 months without transactionsHK$300 every six months

Per event

Change of director or signatoryHK$300
Additional tokenHK$150
Closure within the first 6 monthsHK$200

What the bank checks

Documents for international transfers
Transactions within the declared profile
The Hong Kong company’s filings at the review

The insurance product is a five-year commitment. We clarify the product name and the exit and refund terms with the bank before applying.

Let’s discuss the details

Are you ready for a five-year insurance product?

We’ll clarify the product terms with the bank — amount, term and refund — and show them to you before you sign the application.

Elizaveta Germash

Bank accounts

Process

7 steps from the first conversation to the result

Every step is visible in the client portal: what’s happening now and whether we need anything from you.

Steps on your side: 3 of 7

We handle it · 3Needed from you · 3Bank · 1

We check your link to China or Asia, line of business and structure — whether the application will go through and under which tariff.

Step 1 of 7

Profile assessment

We check your link to China or Asia, line of business and structure — whether the application will go through and under which tariff.

We handle it1–3 days

Documents

What you’ll need

Hong Kong company

Board resolution — if any
Valid BR, CI and certificate of change of name, if any
Articles of association
Ownership chart and director’s declaration of beneficial owners — if a shareholder is a company
Share transfer documents with the stamp duty chop — if any
FATCA forms; company chop — if any

Overseas company — in addition

Certificate of incorporation and overseas articles of association
Certificate of incumbency from the registered agent or a registry search report — no older than 6 months
BR and certificate of registration as a non-Hong Kong company — if registered in Hong Kong

People

IDs of key directors, all beneficial owners and signatories; without an HKID — a passport
Proof of the director’s address for the last 3 months: a utility bill or bank statement
Certified copies — a CPA, lawyer or notary in an FATF country, a member of the Chartered Governance Institute or a bank officer
Not in English or Chinese — with an English translation

Business activity

Business model description
Proof of activity: contracts, invoices, shipping documents with counterparties in China or Asia
No transactions yet — two contracts for planned deals: with a supplier and with a buyer
Expected turnover, currencies and payment countries

Timing and budget

What makes up the budget

Tariffs follow CNCBI’s Bank Service Fees and Charges (effective 27 February 2026), indicative as of October 2026; the bank has the final say.

ItemDepends onWhen

Account applicationDepends onHK$1,200 for a Hong Kong company, HK$10,000 for an overseas one. Non-refundable if the application is rejected.WhenOn application
“Special” companyDepends onMoney services, jewellery, three or more ownership layers, a trust — another HK$10,000 on top of the application fee.WhenOn application
Company searchDepends onUnder the tariff, a search on a Hong Kong company costs HK$300, on an overseas one — from HK$2,000 or the bank’s actual expenses. In our experience, the bank quotes a company search fee of HKD 11,500: there is no such line in the tariff, so we ask the bank what the amount covers before applying.WhenOn application
Insurance productDepends onIn our experience — USD 20,000 a year for five years, USD 100,000 in commitments in total. This line is not in the bank’s tariff.WhenAnnually, for 5 years
MaintenanceDepends onHK$300 a month if the company’s average account balance is below HK$50,000. No transactions for 12 months — HK$300 in June and December.WhenMonthly
TransfersDepends onTT via internet banking — HK$100, via a branch — HK$200; a transfer without currency exchange — another 0.25% (HK$100–1,000). Incoming — HK$60, outgoing CHATS online — no handling fee. If you bear the correspondent banks’ charges — from HK$250 per transfer.WhenPer transaction
Changes and closureDepends onChange of director or signatory — HK$300; additional token — HK$150; closure within the first 6 months — HK$200.WhenPer event
Trip to Hong KongDepends onThe director’s visit to the branch — budget for flights and accommodation.WhenFor the bank visit
Our supportDepends onProfile assessment, business model description, the file and preparation for the visit. The price depends on the structure and risk level — we fix it in our proposal.WhenAt the start of work

Application tariff

What it costs to apply — depends on the company

The fee under CITIC’s tariff (indicative as of October 2026) depends on where the company is registered, not on the owners’ nationality. A “special” company means money services, jewellery, three or more ownership layers, a trust. In our experience, CITIC opens a corporate account for a Hong Kong company; the overseas column follows the bank’s tariff.

Application

HK$1,200

Company search

HK$300

How to apply

Online or at a branch

Business inMotion app

Click an option to highlight it across every parameter

Application

HK$1,200

HK$10,000

Company search

HK$300

From HK$2,000

or the bank’s actual expenses

How to apply

Online or at a branch

Business inMotion app

At a branch

in our experience — the director’s visit

At a branch

online — Hong Kong companies only

Getting it right

Common mistakes — and how to avoid them

Click a card to see how to do it right · 0 of 5 open

01 What people often do
Treating the insurance product as a regular deposit.
02 What people often do
Building a complex structure with a trust or three or more layers of companies.
03 What people often do
Applying with a business that has no Chinese counterparties.
04 What people often do
Planning urgent international payments through CITIC.
05 What people often do
Having copies certified by the first notary you find.

FAQ

Expert answers

Elizaveta Germash — Bank accounts

In our experience, CITIC asks you to take out an insurance product with a contribution of USD 20,000 a year for five years — USD 100,000 in commitments in total. In our experience, the bank calls it a deposit insurance product; it is not in the tariff. The bank gives the product name, refund and exit terms on request — we clarify them before applying.

Elizaveta Germash · Bank accounts

Under the tariff — HK$1,200 for a Hong Kong company and HK$10,000 for an overseas one, plus a company search: HK$300 or from HK$2,000. A “special” company pays another HK$10,000. The fee is not refunded if rejected. In our experience, the bank quotes a company search fee of HKD 11,500; there is no such line in the tariff, so we ask the bank what it covers before applying.

Elizaveta Germash · Bank accounts

Sources

Deadlines, amounts and rules are based on these sources as of the check date. Rules change: check with us before deciding.

Often goes with this

What else you may need

Bank Accounts

OCBC

Also requires a link to Asia, but the threshold is an average balance of HK$100,000 or more

Bank Accounts

DBS

For companies with international business and a presence in Asia

Company Registration

Hong Kong

A Hong Kong company is the basis for a corporate account application

Next step

CITIC — is it worth applying?

Tell us about your ties to mainland China, volumes and structure. We’ll tell you which tariff line your application falls under and clarify the insurance product terms before you apply.

Elizaveta GermashLawyer · Bank accounts