Startupr.hk

How do I make an appointment with a Hong Kong bank?

Recently, setting up company accounts in  Hong Kong banks has become more restrictive. We currently recommend our clients open out of Hong Kong bank accounts rather than corporate accounts in Hong Kong. International banks give you the same options!

If you still wish a company bank account in Hong Kong, Startupr can help. Over the years, we’ve introduced many of our clients to HK banks, and prepared them for successful meetings with bank officials. Our methods ensure you’re thoroughly set for this meeting, which greatly increases the likelihood of successful account opening. Every bank is impressed by a well prepared customer. Two things you should read before approaching an HK bank or engaging us to help to open an offshore bank account are the following:

 

Banks are now under greater Due Diligence and KYC (Know You Client) rules, making account applications more rigorous.  However, as an experienced startup agency, we can increase the odds of your successful application.

 

As regulations have tightened, we have also been advised by certain Hong Kong banks to provide clients with direct contact links for respective banks, as listed below. For appointments with these particular banks, clients must contact the banks directly.

Before you schedule your bank appointment, we recommend confirming your company’s legal incorporation. Banks may take up to 5 working days post-incorporation to confirm this for themselves.

Once you’ve received email confirmation that your Hong Kong company is incorporated, you may then arrange a bank appointment. You should contact the bank no less than 20-25 working days before your planned Hong Kong arrival, then reconfirm the appointment before finalizing travel arrangements.

 

Post-incorporation, we suggest your choice of the following banks:

DBS, HSBC, Bank of China, and Citibank.

Startupr is well suited to help make your appointment with the following HK banks: Hang Seng, OCBC Wing Hang, and Standard Chartered. We need at least 20-25 working days to make the appointment and receive confirmation.

For other HK banks, please follow our guidelines and call those banks directly.

If you decide that Hong Kong banks are too problematic, we are more than ready to help you open an out of Hong Kong bank account by making a proper introduction to your choice of international banks. Please understand there’s no need to open a Hong Kong bank account for a Hong Kong registered company. International accounts give you advantageous options, enabling smooth company and bank account management. Their online banking features give you financial access no matter where you’re located. Offshore banks can also issue corporate, internationally recognized credit cards. Simply select from our list of international banks and let us know your choice.

 

What does a Hong Kong bank ask in the meeting?

  • What is the nature of your business?
  • How old is the business?
  • How many employees?
  • What is your business address?
  • In what countries do you sell products?
  • What would be the trading currency?
  • What size is your customer base?
  • What is your current or expected annual turnover?

 

Typical responses might be these:

  • Import/export or software development
  • 5-10 years
  • 5-10 or over 70
  • Europe, Germany US, Australia
  • China, EU Australia, US
  • RMB, HKD, USD, EUR
  • China, EU Australia, US
  • 3,000,000 HKD or 10,000,000 HKD

 

Once your company is incorporated, make sure you contact the bank you select (from the list below) and schedule a meeting before arranging to visit Hong Kong.

 


 

OCBC Wing Hang

Hotline:  2633 0628    

How to book your appointment: Call the hotline

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Account opening charge: Administration fee $1,200 HKD

Initial deposit: $50,000 HKD

Minimum monthly deposit: $100,000 HKD

Monthly Fees: $500 HKD / month

Time for approval process: 10-15 weeks

Annual Account Maintenance Fee: $ 800 HKD

You may wire transfer the initial deposit within 1 month from the bank account opening date.

USB Security Token: Free for first 2 USB Security Tokens and $200 HKD or equivalent for every additional or replacement

http://www.ocbcwhhk.com/webpages/en-us/html/cor_banking/sme_loan/banking.html?id=sme_banking


DBS Bank

Hotline:  2290 8068    

You can place your application online to check whether you can open the bank account remotely or you will need to schedule an appointment to have a bank meeting.

Please visit the DBS website:

 https://www.dbs.com.hk/sme/dbs-forms/accounts/oas/account-open.page?cid=dis_SME_OAOS_Sep2016_Facebook_PageNewsfeed_en

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Online request at least 2 days in advance:

https://www.dbs.com.hk/sme/dbs-forms/accounts/oas/account-setting.page

A bank officer will call you back within 2 working days to arrange a meeting no earlier than 3 working days later.

Account opening charge: Administration fee $1,000 to 10,000 HKD plus Company Search fee 150 HKD. (Depends on the clients’ conditions)

Initial deposit to waive the monthly fee: $20,000 HKD

Monthly Fees: $150 HKD / 6 months

Time for approval process: 10- 15 working days

Requires at least 1 Transaction per year otherwise it will be dormant status

You may wire transfer the initial deposit within 1 month after the bank account is opened

http://www.dbs.com.hk/corporate/cash/cash-and-accounts/business-account

 


ICBC

Hotline:  2189 5588

How to book an appointment: Walk-in appointments accepted.

Monthly Fees: $50 HKD / month

Account opening charge: Company Search fee $200 HKD

Time for approval process: 10- 15 working days

Requires Referral letter, Account must be active for at least 1 year

Maintenance Balance to waive the monthly fees: $ 5000 HKD

More than one visit depending on the submitted documents

You may wire transfer the initial deposit within 1 month after the bank account is opened.

http://www.icbcasia.com


Hang Seng Bank

Hotline: 2198 8000     

(Appointment required)

How to book an appointment: Please call the hotline. The exact time and location will be specified. A bank officer from the particular branch will call you back within 2 working days to confirm the appointment. You may be asked to email business proof prior to the appointment.

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Initial Deposit: $ 10,000 HKD

Monthly Fees: $180 HKD / month

Maintenance Balance to waive the monthly fees: $ 50,000

Account opening charge: Administration fee $1,200 HKD and Company Search fee $150 HKD

Time for approval process: 10- 15 working days

Administration can be deducted from the account once opened; Administration fee will be waived if application is rejected.

You may wire transfer the initial deposit within 1 month after the bank account is opened.

https://bank.hangseng.com/1/2/business


HSBC

Hotline: 2748 8282     

(by appointment)

How to book your appointment: Please call the hotline and inform the customer support representative that you represent a new company and would like to open an account. They will ask several questions (please see the list above) about your business and then arrange a meeting. Once the call is finished, they will email a confirmation.

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Initial deposit to waive the monthly fee: $50,000 HKD / month on average throughout 3 months

Monthly Fees: $200 HKD / month

Account opening charge: Administration fee $1,200 HKD

Time for approval process: 10 – 15 working days

Meeting will take approximately an hour

You may wire transfer the initial deposit within 1 month after the bank account is opened.

http://www.business.hsbc.com.hk/

 


Bank of China

Hotline: 3988 2288    (by appointment)

How to book your appointment: Please call the hotline to inform the bank officer for the time and branch you would like to have the meeting. The branch officer will call you bank within 2 working days to confirm the bank appointment.

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Initial deposit to waive the monthly fee: $ 50,000 HKD

Monthly Fees: $ 120 HKD / month

Account opening charge: Company Search fee $ 150 HKD

Time for approval process: 10 – 15 working days

Requires 2 times of visit; 1st Visit for submission and 2nd visit for signing of documents

You may wire transfer the initial deposit within 1 month after the bank account is opened

http://www.bochk.com/en/home.html

 


 

Citibank

Hotline: 2860 0333   

(by appointment; accept apostille documents only)

How to book your appointment: Please call the hotline to inform the bank officer for the time and branch you would like to have the meeting. The account opening manager will call you bank within 2 weeks to confirm the bank appointment.

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Initial deposit to waive the monthly fee: $10,000 HKD

Monthly Fees: $60 HKD / month

Account opening charge: free

Time for approval process: 15 – 25 working days

You may wire transfer the initial deposit within 1 month after the bank account is opened.

Requires Business Registration Proof of Address

https://www.citibank.com.hk/english/citibusiness/citibusiness-about-us.htm?icid=HKCZAWHZHCTBSCALM

 


Standard Chartered Bank  

Hotline: 2886 6988   

(by appointment)

How to book your appointment: Please call the hotline to inform the bank officer for the time and branch you would like to have the meeting. A branch officer will call you within 2 working days to confirm the appointment.

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Initial deposit to waive the monthly fee: $200,000 HKD

Monthly Fees: $ 300 HKD / month (if the deposit is below of $200,000 HKD)

Account opening charge: Company Search fee $150 HKD

The bank officer will promote you some financial products to keep the monthly balance

Time for approval process: 20 – 25 working days

You may wire transfer the initial deposit within 1 month after the bank account is opened.

website: https://www.sc.com/hk/zh/business-banking-sme/


 

Nanyang Commercial Bank

Hotline: 2622 2633  

(Walk- in appointments accepted)

Initial deposit to waive the monthly fee:$ 50,000 HKD

Monthly Fees: $120 HKD / month

Account opening charge: Company Search fee $150 HKD

Time for approval process: 10 – 15 working days

You may wire transfer the initial deposit within 1 month after the bank account is opened.

Documents required: http://www.ncb.com.hk/nanyang_bank/resource/doc_req_open_limted_comp_HK.pdf


China CITIC Bank

Hotline: 2287 6868

(by appointment)

Initial deposit to waive the monthly fee: N/A

Monthly Fees: N/A

Account opening charge: Company Search fee $ 150 HKD

Time for approval process: 10 – 15 working days

You may wire transfer the initial deposit within 1 month after the bank account is opened.

https://www.cncbinternational.com/sme/business-account-services/business-now-account/en/index.jsp


Fubon Bank

Hotline: 2806 5086

(Walk- in appointments accepted)

Initial deposit to waive the monthly fee: $ 5,000 HKD

Monthly Fees: $ 50 HKD

Time for approval process: 4 weeks for company search; you need to return for bank documents.


Bank of East Asia

Hotline: 2211 1338, 3609 1782/3609 1783 (Sheung Wan)

(by appointment, call to branch directly) 

Initial deposit to waive the monthly fee: $ 10,000 HKD

Administration Fee: Free

Company Search: $ 400 HKD

Monthly Fees: $ 100 HKD

Time for approval process: 3-4 weeks for company search, need to come back for bank documents

You may wire transfer the initial deposit within 1 month after the bank account is opened.


Bank of Communication

Hotline: 2239 5559

(by appointment)

Initial deposit to waive the monthly fee: $ 10,000 HKD

Monthly Fees: $ 0 HKD

Time for approval process: 4-8 weeks

You may wire transfer the initial deposit within 1 month after the bank account is opened.


China Construction Bank

Hotline: 29038366

(by appointment)

Initial deposit to waive the monthly fee: initial deposit 30000 HKD, min avg 20000 HKD

Monthly Fees: 100 HKD

Time for approval process: 3 weeks

Only for HK permanent residents or Chinese permanent resident

Can do pre-approval when calling to arrange bank meeting: email business proofs and ID first.

You may wire transfer the initial deposit within 1 month after the bank account is opened.


Shanghai Commercial Bank 

Hotline: 28180282

(Appointment calling to branches) 2545 8738 Sheung Wan

Initial deposit to waive the monthly fee: 5,000 HKD

Monthly Fees: 60 HKD

Time for approval process: 4-8 weeks; need to re-visit for signature.

Referral needed from at least one of the bank’s existing corporate clients.

You may wire transfer the initial deposit within 1 month after the bank account is opened.


 

Dah Sing Bank

Hotline: 28288168

(Appointment required)

Appointments made onnline, branch will call back within 3 working days.

Initial deposit to waive the monthly fee: 5,000 HKD

Company Search: $150 HKD

Monthly Fees: 60 HKD

Time for approval process: varies

You may wire transfer the initial deposit within 1 month after the bank account is opened.

https://www.dahsing.com/sme/landing/html/index-en.html?intcmp=redirect_dp_sme

 


United Overseas Bank

Hotline:  2842 5666    

(by appointment)

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Account opening charge: Application fee $1,000 HKD

Initial deposit: $1,000,000 HKD

Minimum monthly deposit: $1,000,000 HKD

Monthly Fees: $ 0 HKD ($500 /month for each currency account if balance less than 1 Mil)

Time for approval process: 10-15 working days

Monthly Maintenance Fee: $ 100 HKD (or equivalent) for each currency account

You may wire transfer the initial deposit within 1 month from the bank account opening date.

SecurePlus token: Free for first SecurePlus token

http://www.uobgroup.com/hk/business/index.html


 

Woori Bank

Hotline:  2521 8016    

(by appointment)

How do I prepare for the meeting? Consult our article on bank meeting preparation here.

Account opening charge: Due Diligence Checking fee $1,000 HKD

Time for approval process: 15-20 working days

You may wire transfer the initial deposit within 1 month from the bank account opening date.

https://go.wooribank.com/hk/hs/ic/HSIC120_01C.do


 

Canara Bank

Hotline: 2529 1398

(by appointment)

Minimum monthly deposit: Rs.5000 (or equivalent)

Monthly Fees: $ 0 HKD

Time for approval process: 4-8 weeks

You may wire transfer the initial deposit within 1 month after the bank account is opened.

http://www.canarabank.com/english/bank-services/corporate-banking/accounts-deposits/


Bank charges may vary as banks frequently update their fees.

Please be aware that Hong Kong banks’ due diligence processes are highly difficult due to stricter requirements. Some of our clients still enjoy successful bank accounts openings.