GOFIRM

Bank account opening

Opening a bank account in Hong Kong

A multi-currency account for settlements with China and Asia — at one of five banks, a virtual bank or on a payment platform. We give an honest assessment of what is realistic for your profile and prepare a file with evidence of your business’s link to the region.

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5 banks
HSBC, Hang Seng, OCBC, DBS and CITIC
6–8 weeks
HSBC and Hang Seng in our experience; DBS and CITIC — several months
HKD 100,000
Average balance with no monthly fee at HSBC, Hang Seng and OCBC
In person
Director meets the bank — in our experience, at all five banks

This service in other countries

UAETurkeyChinaGeorgiaKazakhstan
Everything we do in Hong Kong

In short

Five banks open company accounts in Hong Kong — HSBC, Hang Seng, OCBC, DBS and CITIC — and in our experience the director meets the bank at all five. HSBC and Hang Seng take 6–8 weeks, DBS and CITIC several months; HSBC, Hang Seng and OCBC charge no monthly fee with a HKD 100,000 average balance.

Checked 18 October 2026 · Elizaveta Germash

Cost of a mistake

10–20% of the tax

What is usually charged for a first late profits tax return; at most, additional tax of up to three times the tax undercharged.

How to avoid it

Hong Kong is a strong banking hub for Asia — if the bank understands your structure and your link to the region

Multi-currency accounts and easy access to the yuan are Hong Kong’s strengths. Non-residents can open accounts, but with the right structure and a genuine link to the region — and with a mandatory meeting at the bank.

  • HSBC and Hang Seng — full service

    HKD plus 11 more currencies, strong online banking. In our experience — 6–8 weeks and an in-person meeting at the bank. A Hong Kong company’s application costs HK$1,300–1,450; with an average balance below HK$100,000 — HK$200 a month.

  • Platforms — fast, but with limits

    Virtual banks licensed by the and payment platforms open accounts online and faster, but with limits on transactions, currencies and countries.

  • The bank expects a real trail

    Suppliers and clients in the region, contracts, invoices, source of funds. OCBC, DBS and CITIC explicitly require a link to China or Asia.

  • The company has obligations

    You need a , a Hong Kong address and an annual audit. Tax is 8.25% on the first HKD 2 million of profit and 16.5% on the rest; an has to be filed and proven.

Expert tip

If your link to Asia is still weak, we start with a platform and build a transaction history: invoices and statements for real payments are the very proof of business activity that banks ask for in their document lists.
Elizaveta GermashElizaveta GermashLawyer · Bank accounts

Banks

Banks where we open accounts

Terms reflect our practice as of October 2026. The final decision and fees are up to the bank.

HSBC

HSBC

Bank in Hong Kong

A classic Hong Kong account with strong online banking. Non-residents can open one with the right structure — we prepare it in advance.

Open to
Companies, including non-residents
Currencies
HKD plus 11 more, including USD, CNY, EUR, GBP
Opening
In person: a meeting at the bank, preceded by a call
Timeline
6–8 weeks
Balance
Typically HKD 100,000; below that — HK$200 a month under the Business Direct tariff
Application
HK$1,300 online under the tariff; overseas company — HK$11,000
  • As a rule, there is no personal manager — the call centre works well.
  • Defence, oil and gas, precious metals — possible, but with additional review.
  • To activate the account — an initial deposit of HK$10,000 or USD 1,000.
About the bank
Hang Seng Bank

Hang Seng Bank

Hong Kong bank, HSBC Group

The same requirements as HSBC: a meeting at the bank, a clear structure and business model. Its own tariff and packages.

Open to
Companies, including non-residents
Currencies
HKD plus 11 more, including USD, CNY, EUR, GBP
Opening
In person: a meeting at the bank, preceded by a call
Timeline
6–8 weeks
Balance
Typically HKD 100,000; below that — HK$200 a month under the IBS tariff
Application and company search
HK$1,300 + HK$150 under the tariff; overseas company — HK$1,300 + HK$10,000
  • Payment limits depend on the business model and business activity.
  • As a rule, there is no personal manager.
  • Initial deposit — HKD 20,000; the application and search fees are non-refundable.
About the bank
OCBC

OCBC

Hong Kong bank, OCBC Group (Singapore)

A corporate account for a Hong Kong company and a personal account — with a link to China or Asia. One of Asia’s largest banks, with strict compliance.

Open to
Hong Kong companies and individuals
Currencies
USD, EUR, HKD, CNY, others on request
Opening
Director’s personal visit only
Balance
Deposit and average balance from HKD 100,000; below that — HK$500 a month under the tariff
Bank fees
HK$6,500 for opening if any beneficial owner is a non-resident, and HK$800 a year — under the tariff
Russia, Belarus, Ukraine
Directors and shareholders from these countries are not accepted, including any link to Russia or Belarus
  • The bank checks the origin of the business, the ownership structure and business activity — we prepare the file in advance.
  • Trading, logistics, consulting; other business activities at the bank’s discretion.
  • Online banking and a mobile app. Suitable for international trade with Asia.
  • The opening fee is non-refundable; with a corporate owner incorporated abroad — HK$10,000.
About the bank
CITIC Bank International

CITIC Bank International

Hong Kong bank, China CITIC Group

Close ties to mainland China. Considers clients from Russia, Belarus and Ukraine case by case; accounts are opened only with the director’s visit.

Open to
Hong Kong companies and individuals
Currencies
USD, EUR, HKD, CNY, others on request
Opening
Director’s personal visit only
Timeline
Usually several months
Deposit
Insurance product: USD 20,000 a year for 5 years — USD 100,000 in total
Application
Under the tariff — HK$1,200 plus HK$300 for a company search; in our experience, the bank quotes HKD 11,500
  • A link to China or Asia is mandatory: KYC, company documents, proof of business activity and a description of the business model.
  • For clients from sensitive jurisdictions, it opens corporate and personal accounts only together.
  • 1 token and online banking. The bank scrutinises international transfers more closely than usual.
  • Under the tariff — HK$300 a month if the average balance is below HK$50,000. The bank discloses its other terms on request.
About the bank
DBS

DBS

Hong Kong bank, DBS Group (Singapore)

For companies with international operations and a presence in Asia. In our experience — a deposit from HKD 1 million; a VIP account is possible for individuals.

Open to
Hong Kong companies and individuals
Currencies
USD, EUR, HKD, CNY, others on request
Opening
Director’s personal visit only
Timeline
Usually several months
Minimum deposit
HKD 1 million in our experience; under the tariff, an average below HK$50,000 costs HK$250 a month
Russia, Belarus, Ukraine
Directors and shareholders from these countries are not accepted, including any link to Russia or Belarus
  • For a corporate account — a detailed business description, source of funds, group structure, contracts and expected turnover.
  • A link to China or Asia is mandatory; trading and logistics, other business activities by agreement.
  • Online banking and a mobile app. The bank discloses its other terms on request.
  • Under the tariff, with non-resident beneficial owners — opening from HK$10,000 and maintenance from HK$5,000 a year.
About the bank

Choosing a bank

Which Hong Kong bank will consider your application?

Answer three questions — banks that don’t fit will fade out, and you’ll see why. In our experience, all five banks require a meeting with the director in Hong Kong. Terms reflect our experience, fees — the banks’ published tariffs, as of October 2026; the bank decides whether to open the account.

Which company will open the account?

Do you have suppliers, clients or group companies in China or Asia?

How much is the company ready to keep with the bank?

5 of 5 fit

  • HSBC

    HSBC · Hong Kong

    6–8 weeks · below HKD 100,000 — HK$200 a month · application HK$1,300

    Overseas company — application HK$11,000; no fee on Business Direct with a 3-month average balance from HKD 100,000

    Fits
  • Hang Seng

    Hang Seng · Hong Kong

    6–8 weeks · below HKD 100,000 — HK$200 a month · application and search HK$1,450

    Same requirements as HSBC; overseas company — search fee HK$10,000; initial deposit — HKD 20,000

    Fits
  • OCBC

    OCBC · Hong Kong

    deposit and average balance from HKD 100,000 · opening — HK$6,500

    Trading, logistics, consulting; other business activities at the bank’s discretion

    Fits
  • CITIC

    CITIC · Hong Kong

    usually several months · insurance product USD 20,000 a year, 5 years · application HK$1,200

    Close ties to mainland China; the bank scrutinises international transfers more closely

    Fits
  • DBS

    DBS · Hong Kong

    usually several months · deposit from HKD 1 million · opening from HK$10,000 with non-resident beneficial owners

    Trading and logistics, other activities by agreement; a VIP account is possible for individuals

    Fits

Who it suits

Who it suits — and when to choose something else

A good fit if

  1. 01You buy goods in China and Asia and pay suppliers in USD, or HKD.
  2. 02Your clients are in Asia, and revenue comes in US or Hong Kong dollars.
  3. 03You have or plan a Hong Kong company, and it needs a main account.
  4. 04You trade with a full set of documents: contracts, invoices, bills of lading.
  5. 05You need a second jurisdiction alongside your UAE structure for payments to and from Asia.

Consider something else if

  1. 01Your clients and suppliers are in Europe, the CIS or the Middle East, and you have no ties to Asia.UAE
  2. 02You want a Hong Kong company only for the “zero tax”. An offshore claim isn’t automatic, and an audit is mandatory every year.Freezone
  3. 03You need the account within a week. That’s not realistic at a traditional bank — start with a payment platform and factor in its limits.Payment platforms
  4. 04You can’t travel to Hong Kong. In our experience, all five banks open an account for a non-resident only after meeting the director.UAE
  5. 05You need a personal account just for savings. For a non-resident with no ties to Hong Kong the terms are tough; for large capital there is a simpler option.Georgia

Benefits

What you get

An honest choice between bank and platform

We tell you where your profile will pass now and where only after a year of transactions. We don’t waste time on an application to a bank that won’t consider it.

A file built on Asian logic

Supply chain, contracts with suppliers and clients, invoices, shipping documents — exactly what Hong Kong banks check first.

Company and account planned together

If you need a Hong Kong company, we plan it with the bank in mind from the start: ownership structure, directors, business description.

Preparation for the call and the meeting

The bank calls before the meeting, and at the meeting asks in detail about suppliers, clients, goods and the flow of money. We prepare you for both conversations.

Clarity on what comes after

We explain a Hong Kong company’s obligations: company secretary, address, audit, tax reporting. During a periodic review, the bank updates its client data — the company’s documents must be in order.

Status in the client portal

Registration and account opening stages, bank requests and documents — all in one portal. You can see whose move it is.

How to choose

Traditional bank, virtual bank or platform

The choice depends on your volumes, the products you need and how closely your business is already tied to Asia.

  1. 01

    Speed of opening

    Platforms and virtual banks — from a few days to a couple of weeks, online. In our experience, HSBC and Hang Seng take 6–8 weeks, DBS and CITIC usually several months, and all of them require a meeting with the director.

  2. 02

    Limits and service

    Platforms have limits on amounts, countries and business activities. HSBC and Hang Seng have no particular limits — it all comes down to the business model; there’s usually no personal manager either, but the call centres are strong.

  3. 03

    Currencies and CNH

    All five banks handle HKD, USD, renminbi and EUR; HSBC and Hang Seng offer 12 currencies in one account. We check how renminbi payments to mainland China go through and what conversion costs.

  4. 04

    Trade finance

    Letters of credit, guarantees and supply-chain finance are the domain of traditional banks. If you’ll need them, a platform won’t replace a bank.

  5. 05

    Company requirements

    Under all five banks’ tariffs, an overseas company’s application costs from HK$10,000; HSBC, OCBC and DBS also treat a Hong Kong company with a corporate shareholder incorporated abroad as overseas. In our experience, OCBC, DBS and CITIC open corporate accounts for Hong Kong companies with a link to China or Asia. Some platforms work with UAE companies.

  6. 06

    Entry threshold

    No monthly fee from an average balance of HKD 100,000 at HSBC, Hang Seng and OCBC. In our experience, DBS expects a deposit from HKD 1 million, and CITIC an insurance product of USD 100,000 over 5 years. The threshold often decides the choice before your profile does.

  7. 07

    Channel resilience

    A platform may change its rules or the list of countries it serves. Your main flows need a backup channel — a second bank or a UAE account.

Route

Company, bank, platform — in what order

Two common scenarios: a new Hong Kong company, and an account without a trip to Hong Kong.

Company01

Company in Hong Kong

Remote registration; we prepare the structure and the business description with the bank in mind from the start.

3–7 daysfrom €1,308

You get: CI, BR, articles and registers for the file

Platform02

Payment platform

No visit to Hong Kong: first payments while the bank reviews the application.

3–10 working daysin parallel

You get: a second payment channel

Account03

Account at a Hong Kong bank

The file, the bank’s call and a meeting with the director in Hong Kong. At DBS and CITIC, the review usually takes several months.

6–8 weeks

You get: a multi-currency account: USD, HKD, CNY and others

Bank account

6–8 weeks

In our experience — from applying to HSBC or Hang Seng; before that, 3–7 days for the company plus preparing the file. A platform starts working sooner.

Let’s discuss the details

Bank or platform — what’s realistic for you?

Describe your suppliers, clients and volumes — we’ll tell you where to apply now and what to hold off on until you have a transaction history.

Process

8 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: 2 of 8

We handle it · 4Needed from you · 2Bank · 2

  1. We look at who you work with and in which currencies, what volumes, and how closely the business is tied to Asia. That gives a realistic assessment of your chances.

Documents

What to prepare for the bank — for your company

Tick what is already ready: the list of what’s missing goes to your manager in one click.

Information

Documents

Ready

0 / 12

Proof of address — a utility bill or bank statement, usually no older than 3 months. We confirm the list for the specific bank before applying.

Timing and budget

What makes up the budget

The budget covers the account itself and — if you need a Hong Kong company — its annual upkeep. The latter often outweighs the former.

  • Minimum balance and maintenanceDepends onUnder the tariffs: HSBC (Business Direct) and Hang Seng (IBS) charge HK$200 a month if the average balance is below HK$100,000, OCBC — HK$500, CITIC — HK$300 below HK$50,000, DBS — HK$250 below HK$50,000. In our experience, OCBC expects a deposit from HKD 100,000, DBS — from HKD 1 million. Platforms charge a subscription or per-transaction fees.WhenMonthly
  • Account opening feeDepends onFor a Hong Kong company under the tariffs: HSBC — HK$1,300 online, Hang Seng — HK$1,300 plus HK$150 for the company search, CITIC — HK$1,200. With non-resident beneficial owners, OCBC charges HK$6,500, DBS — from HK$10,000 plus from HK$5,000 a year. For an overseas company — from HK$10,000 everywhere. At Hang Seng, OCBC and CITIC the fee is not refunded if the application is rejected.WhenWhen applying
  • CITIC insurance productDepends onIn our experience, CITIC asks for an insurance product: USD 20,000 a year for 5 years — USD 100,000 in commitments in total. It is not in the bank’s tariff — we clarify the product name and terms before applying.WhenAnnually, for 5 years
  • Company registration and upkeepDepends onThe package — from €1,308 for registration and the first year, registered address included; renewal — from €1,308 per year. Government fees: BR — HK$2,350 a year from 1 April 2026, NAR1 — HK$105 if filed on time. Whether they are included in the package, and on what terms the secretary is provided, we set out in the proposal.WhenAt registration and annually
  • Audit and tax filingsDepends onAn annual audit by a Hong Kong auditor and a tax return. The cost depends on transaction volume and whether an offshore claim is filed.WhenAnnually
  • Transfers and conversionDepends onFees for international payments, conversion to CNH and other currencies, correspondent bank charges.WhenPer transaction
  • Certification and translation of documentsDepends onFor foreign owners and companies — certified copies, sometimes legalisation. The format depends on the bank.WhenBefore applying
  • Trip to Hong KongDepends onIn our experience, at all five banks the director attends the meeting in person — budget for flights and accommodation.WhenFor the bank meeting
  • Our supportDepends onChoosing the format and bank, the file, company registration, preparation for the call and the meeting. The cost depends on the structure and the risk level.WhenAt the start of work

Company obligations

Company deadlines the bank will check you on at a review

Hong Kong banks review their clients regularly and update their documents. Timing runs from the company’s incorporation date; fees and penalties are per the Hong Kong Companies Registry and Inland Revenue Department, bank charges — per the banks’ tariffs, as of October 2026.

01234567891011121314151617181920months from the incorporation date

Day 0

Company incorporated

The Registry issues the CI and BR. From this day, the company keeps a register of significant controllers in Hong Kong — the bank reviews it together with the registers of shareholders and directors.

Anniversary

NAR1 annual return — 42 days

Filed with the Companies Registry every year within 42 days after the anniversary of incorporation; the fee is HK$105. The Registry does not extend this deadline.

If missed: from HK$870 to HK$3,480 depending on how late; if prosecuted — up to HK$50,000 plus HK$1,000 for each day

≈ 18 mo.

First profits tax return

The Inland Revenue Department issues it about 18 months after incorporation; you have 3 months from the date of issue to file the first return. The return is filed with audited financial statements.

If missed: additional tax — up to three times the tax undercharged; for a first late filing, usually 10–20% of the undercharged tax

Every month

  • Average account balance

    Account balance

    Below an average of HK$100,000, HSBC on Business Direct (over 3 months) and Hang Seng on IBS (over a month) charge HK$200 a month, OCBC — HK$500. At CITIC and DBS the threshold is HK$50,000.

Every year

  • By the incorporation anniversary

    Business registration renewal

    From 1 April 2026 — HK$2,350 a year. The demand note arrives about a month in advance; if it doesn’t, notify the Inland Revenue Department in writing within a month after the expiry date.

    If missed: up to HK$5,000 — for breaching the Business Registration Ordinance

  • After the financial year closes

    Audit

    Mandatory for all companies except . The audited financial statements are filed with the tax return; the bank may request them during a periodic review.

  • From the first working day of April

    Profits tax return

    The Inland Revenue Department issues returns in early April; the usual deadline is one month from the date of issue. With an offshore claim, it may ask for evidence on the transactions.

Event-driven

  • 15 days after the change

    Director or secretary

    Appointment and resignation — form ND2A to the Companies Registry; changes to their details — form ND2B.

  • 7 days after confirmation

    Significant controllers

    Changes are entered in the register within 7 days after the controller has confirmed them.

    If missed: up to HK$25,000 plus HK$700 for each day of the breach

  • A month after starting business

    Business nature in the BR

    Until notified, the BR shows “CORP” instead of the business nature. The business name, nature and address are reported to the Inland Revenue Department by letter or on form IRBR200; changes — also within a month.

  • By the deadline in the request

    Bank’s periodic review

    Banks review high-risk clients at least once a year. If a bank cannot complete its client checks, the law requires it to end the relationship as soon as reasonably practicable.

Getting it right

Common mistakes — and how to avoid them

Click a card to see how to do it right · 0 of 6 open

  1. 01 What people often do

    Applying to a traditional bank with no link to Asia — “it might just work”.

  2. 02 What people often do

    Assuming tax in Hong Kong is zero.

  3. 03 What people often do

    Building a structure with nominee owners to avoid disclosing the beneficial owner.

  4. 04 What people often do

    Keeping all flows on a single platform.

  5. 05 What people often do

    Paying invoices with mismatched names and amounts.

  6. 06 What people often do

    Forgetting about the company’s annual obligations.

FAQ

Expert answers

Elizaveta Germash — Bank accounts

Yes, but at a higher cost and with fewer options. Under all five banks’ tariffs, an overseas company’s application costs from HK$10,000, and HSBC, OCBC and DBS also treat a Hong Kong company with a corporate shareholder incorporated abroad as overseas. HSBC and Hang Seng offer remote opening only to Hong Kong companies. In our experience, OCBC, DBS and CITIC open corporate accounts for Hong Kong companies. Some payment platforms work with UAE companies.

Elizaveta Germash · Bank accounts

Sources

  1. HSBC Hong Kong — compare business accounts
  2. HSBC Hong Kong — Commercial Tariffs (August 2026)
  3. Hang Seng Bank — Commercial Banking Services Fees and Charges (from 1 April 2026)
  4. OCBC Hong Kong — Business Customer Bank Service Fees Guide (from 18 March 2026)
  5. DBS Hong Kong — Bank Charges Schedule for corporate customers (from 11 May 2026)
  6. China CITIC Bank International — Bank Service Fees and Charges (from 27 February 2026)
  7. Hong Kong Inland Revenue Department — penalty policy
  8. Hong Kong Companies Registry — annual return of a private company

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

China

No WFOE · An NRA account at OCBC, HSBC, Standard Chartered or Chouzhou

Bank Accounts

UAE

2–8 weeks · To open a corporate account

Company Registration

Holding & SPV

common law · ADGM and DIFC law

Next step

A Hong Kong account — bank or platform?

Tell us about your suppliers, clients and volumes in Asia. We’ll tell you which bank is realistic to apply to, whether to start with a platform and whether you need a Hong Kong company.

Elizaveta GermashElizaveta GermashLawyer · Bank accounts
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