Whether you’re starting a business in Hong Kong or expanding operations, a local business account is essential for managing finances efficiently. But which provider is the right fit? What are the requirements? And are there alternatives beyond traditional banks for startups and SMEs?
In this guide, we have selected the best business accounts in Hong Kong, highlighting key features to consider, eligibility requirements, documents to prepare, and tips to help you find the account that aligns perfectly with your business goals.
Let's take a look.
Disclaimer: The information provided is accurate as of 14 February 2025 but may be subject to change. For the latest details, please visit each provider’s official website.
1
Statrys Business Account
Statrys is an award-winning payment service provider in Hong Kong. Launched in 2019, Statrys has been providing over 3,500 companies across over 70 countries with cross-border payment solutions for global business growth, including multi-currency accounts and FX services.
Specialising in foreign transactions and dedicated customer support, Statrys received the 2024 Hong Kong Business (HKB) Technology Excellence Award in the Fintech—Payments category.
Statrys Business Account Key Features
- Multi-Currency Business Account: Receive and hold money in 11 currencies: USD, HKD, RMB, AUD, EUR, GBP, SGD, JPY, CHF, NZD, and CAD.
- Make International Payments (SWIFT): Send money in 18 currencies to the US, EU, UK, Mainland China and other supported countries without transaction limits. The expanded range includes THB, VND, INR, IDR, PHP, TRY, and KRW.
- Local Payments: Send local payments in 12 currencies: AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, and VND. This allows you to pay suppliers and employees in their local currency while saving on transfer fees.
- FX Services: Get competitive rates based on real-time mid-market rates. You can also lock in rates for future transactions with forward contracts.
- Real-time SWIFT Payment Tracking: Monitor your international payments in real-time and send shareable tracking links to payees.
- Virtual and Physical Payment Cards: Get prepaid Mastercard® cards to make online and in-store purchases, as well as cash withdrawals from ATMs in Hong Kong and internationally.
- Xero Integration: Automatically sync your transactions with Xero accounting software to simplify your bookkeeping.
- MT103: Download your MT103 document online for free in your Statrys account.
Opening a Statrys Business Account Online
Eligibility | Any type of business, including sole trader and private limited company that is incorporated in Hong Kong, Singapore, or the BVI |
Required Documents |
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How to Apply Online |
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Account Opening Time | 85% of clients were able to open their business accounts within 3 business days |
Account Monthly Fees | Free (If 5 or more outgoing transfers are made per month, otherwise HKD 88) |
Initial Deposit | HKD 0 |
Account Opening Fee | HKD 0 |
Who Should Consider Statrys?
Statrys Is Right For Your Business If
✅ If you are an SME that prefers personalised customer support with a dedicated account manager to assist with queries.
✅ If you operate outside Hong Kong and prioritise a user-friendly digital platform.
✅ If you make frequent transactions monthly and want to save on transfer and monthly fees.
✅ If you need competitive exchange rates and transparent pricing for your foreign exchange transactions.
Things to Consider
❌ Companies must be registered in Hong Kong, Singapore, or the BVI to open a business account with Statrys.
❌ Fewer exotic currencies are available compared to some other providers.
2
DBS Bank (Hong Kong) Business Account
DBS is a multinational banking and financial services group headquartered in Singapore. It has been operating in Hong Kong since 1999 and provides a selection of business bank account options under its SME banking and Corporate Banking service, including multi-currency savings accounts, RMB corporate accounts, and Social Enterprise Package.[1]
In 2024, DBS received several awards from Euromoney, including Best International Bank in Hong Kong and Taiwan and Best Bank for Wealth Management in Asia.[2]
DBS Bank (Hong Kong) Business Account Key Features
- Multi-Currency Savings Account: Manage default currencies HKD, USD, and RMB, plus 11 others, including AUD, CAD, CHF, DKK, EUR, GBP, JPY, NOK, NZD, SEK, and SGD, each with its own wallet in one account.
- RMB Corporate Account: Manage and save on FX conversion charges from RMB to other currencies, including from RMB to HKD and from RMB to USD.
- Social Enterprise Package: Low-cost multi-currency account designed for social enterprises with waivers on some fees, including account set-up and monthly fees.
- Real-time Payment Tracking: Receive real-time updates on your transactions.
- Instant Fund Transfers: Transfer up to HKD or RMB 5 million per transaction instantly via FPS.[3]
Opening a DBS Bank (Hong Kong) Business Account Online
Eligibility | Any limited liability, partnership, or sole proprietorship incorporated and registered in Hong Kong without any corporate directors, partners, or authorised signatories. |
Required Documents and Information | Varies depending on the industry and type of business, such as:
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How to Apply Online | 1. Submit your application. Fill out the application form: Complete the application form and submit supporting documents online. |
Account Opening Time | As fast as 1 working day or within 5 business days for Hong Kong-incorporated entities with at least one shareholder, director, sole proprietor, or partner holding a PRC ID. |
Account Monthly Fees | HKD 250 (if the average total deposit balance over the month falls below HKD 50,000 or equivalent in other foreign currencies) |
Initial Deposit | HKD 20,000 for local company |
Account Opening Fee* | HKD 1,200 (for Hong Kong company) HKD 10,000 (for overseas company) |
*DBS’s Chinese New Year campaign waives an account opening fee if businesses meet certain conditions.[4]
Who Should Consider DBS Bank (Hong Kong)?
DBS Is Right For Your Business If
✅ If you require a comprehensive range of financial products and services.
✅ If you prefer a bank with a strong regional presence in Asia.
✅ If you are a well-established business with substantial financial resources.
Things to Consider
❌Might have to pay a fee to open an account.
❌ High monthly maintenance fees if the account balance falls below the threshold.
❌ High initial deposit requirement.
❌ Foreigners without a permanent HK Identity Card or Chinese Resident Identity Card may be invited to join a video conference or face-to-face meetings for identity verifications.
3
Hang Seng Bank Business Integrated Account
Hang Seng Bank is a Hong Kong-based bank established in 1933. It is a part of the HSBC Group and has a wholly-owned subsidiary in mainland China, Hang Seng Bank (China).
Hang Seng Bank offers personal and corporate financial services, including online banking and savings accounts. It offers two business accounts under its Business Integrated Account product, designed to cater to businesses at different stages of growth: the Biz Virtual+ Account for startups and local SMEs and the Integrated Business Solution Account for well-established SMEs and corporates.[5]
Hang Seng Bank Business Integrated Account Key Features
- Integrated Business Solutions Account: An all-in-one business account that integrates HKD current, savings (in HKD, RMB, foreign currencies), time deposit, investment, and statement gold accounts under one account number.
- Biz Virtual+ Account: An integrated business account designed for startups and local SMEs with digital conveniences and a simplified application process.
- AutoSweeping Service: Automatically moves funds from your savings account to cover any overdrafts or surpassing your credit limit.
- Investment & Treasury Services: Open an investment sub-account within your business account to benefit from investment options.
- Local Payment Services: Preferential pricing on Faster Payment System (FPS) payment.[6][7]
Opening a Hang Seng Bank Business Integrated Account Online
Eligibility | Sole proprietorships, limited companies, or partnerships registered in Hong Kong, China, or overseas |
Required Documents | Depends on where your company is incorporated, but generally requires the following:
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How to Apply Online | 1. Submit an application by providing your company's details 2. Complete digital ID verification 3. Complete e‑Sign |
Account Opening Time | 3-5 business days, depending on the account type |
Account Monthly Fees | HKD 200 (waived if reached a threshold of average relationship balance) |
Initial Deposit | HKD 20,000 |
Account Opening Fee** | HKD 1,000 + HKD 300 (If submit an application at Business Banking Centre) |
**Hang Seng Bank offers a HKD 300 discount when businesses open an account and meet certain conditions. [8]
Tip: Learn how to open a Hang Seng business account in our detailed guide.
Who Should Consider Hang Seng Bank?
Hang Seng Bank Is Right for Your Business If
✅ If you want to manage your investments and make day-to-day business transactions from one account.
✅ You want a bank with an extensive ATM network across Hong Kong, making it a convenient option if you need access to cash.
Things to Consider
❌ Limited international presence outside Hong Kong.
❌ High initial deposit requirement.
❌Charges an account opening fee.
4
HSBC Business Integrated Account
Founded in 1865, HSBC is one of the largest banks in Hong Kong and the world. Headquartered in London, HSBC serves over 40 million customers worldwide and provides comprehensive business banking services, including Business Integrated Accounts, HSBC Sprint Accounts, HSBC Business Direct Accounts, instalment loans, and credit cards, with a remote bank account opening option.
HSBC recently received the Award of Excellence - Digital Business Banking from Hong Kong Economic Journal Financial Services Awards of Excellence 2024.[9] Additionally, HSBC Hong Kong is one of the three commercial banks authorised by the Hong Kong Monetary Authority to issue HKD banknotes.[10]
HSBC Business Integrated Account Key Features
- Business Integrated Account: An account merging savings, current, time deposit, and investment features, tailored in three tiers for startups, growing SMEs, and established SMEs.
- Multi-Currency Support: Manage your funds in 12 currencies under one account number: HKD, CNY, EUR, USD, AUD, CAD, CHF, GBP, JPY, NZD, SGD, and THB.
- Same-day Remittance to Mainland China: The higher business account tiers offer same-day remittance to Mainland China.
- Payroll Service: Set up and automate payroll payments with no annual or registration fees.
- Xero Integration: Connect your business bank account to Xero accounting software for seamless financial management.
- Real-Time Notifications: Get real-time WeChat notifications on account balance and transactions.[11]
Tip: Check out our comprehensive review of HSBC's business account in Hong Kong to learn more about its features and fees.
Opening an HSBC Business Integrated Account Online
Eligibility | Limited company, partnership, or sole proprietorship incorporated or registered in Hong Kong with business operations, without any corporate directors or shareholders, having up to 2 individual directors, shareholders, or authorised signatories. |
Required Documents | Depends on your business type, but primarily includes:
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How to Apply Online | Eligible applicants can fill in the online application form, upload the required documents, and then verify your identity through the HSBC HK Business Express mobile app. |
Account Opening Time | 3 business days |
Account Monthly Fees | HKD 200 or HKD 450 (fees waivable based on account tier and balance conditions.) |
Initial Deposit | HKD 10,000 |
Account Opening Fee | HKD 1,300 (If applied online) HKD 1,600 (If applied via other channels) |
Tip: Learn how to open an HSBC business account online in our step-by-step guide.
Who Should Consider HSBC?
HSBC Is Right for Your Business If
✅ You prefer the full business banking product range covering business lending and trade solutions.
✅ You prefer optional integration with HR management tools, making it a suitable choice for large companies.
✅ You need a bank with a strong international presence to support business expansion.
Things to Consider
❌ Complex pricing structure.
❌ Requires a high initial deposit and charges a fee to open an account.
❌ Remote account opening may not be available for businesses incorporated outside Hong Kong and for individuals without a HKID.
5
OCBC Bank (Hong Kong) SME Business Account
Formerly known as Wing Hang Bank and OCBC Wing Hang Bank, OCBC Bank (Hong Kong) has been a subsidiary of the Overseas-Chinese Banking Corporation of Singapore (OCBC) since its acquisition in 2014.
OCBC Bank (Hong Kong) provides a range of banking products for business clients, including SME Business Accounts, business loans, commercial insurance, and MPF services.[12]
The bank has also received multiple industry awards, including being named Best SME Bank in Asia-Pacific by Global Finance for 2 consecutive years (2023-2024). [13]
OCBC Bank (Hong Kong) SME Business Account Key Features
- Multi-Currency SME Business Account: Hold and pay in 15 currencies, including USD, HKD, RMB, SGD, AUD, and GBP.
- Business Debit Card: Spend like a local worldwide with a complimentary Visa debit card that allows you to pay and track online and in-store payments.
- Convenient Local Payments: Benefit from FPS local transfer and receive payments instantly.
- Internet and Mobile Banking Platform: Get 24/7 access to your account through the OCBC Business app online banking platform.
- Real-Time Notifications: Effortless reconciliation facilitated by real-time notifications and end-of-day transaction reports.[14]
Opening an OCBC Bank (Hong Kong) SME Business Account Online
Eligibility | Companies registered in Hong Kong or business owners with a Hong Kong permanent resident ID, including sole proprietorships and partnerships. |
Required Documents |
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How to Apply Online | Submit your business details and supporting documents, such as a valid business registration certificate and proof of address, online on the website or mobile app. |
Account Opening Time | As fast as one day (SME Business Account) |
Account Monthly Fees | Free (SME Business Account) |
Initial Deposit | HKD 0 (SME Business Account) |
Account Opening Fee | HKD 0 (SME Business Account) |
Who Should Consider OCBC Bank (Hong Kong)?
OCBC Is Right For Your Business If
✅ If you are looking for a convenient solution to manage your business current, savings, and time deposit account.
✅ If you are looking to expand to Southeast Asia and Greater China, as the bank has a strong presence in those regions.
✅ If you are an eligible SME and can get a fee-free business account.
Things to Consider
❌ Only Hong Kong-registered businesses can apply for the SME Business Account.
6
Bank of East Asia CorporatePlus Account
Bank of East Asia (BEA) Limited is currently the largest independent local Hong Kong bank. Founded in 1918, it is the oldest family-run bank in Hong Kong.[15]
Bank of East Asia offers various SME, corporate, and commercial financial products, including business bank accounts, commercial mortgages, and SME Financing Guarantee Scheme. It also has branches and representative offices in Singapore, Malaysia, the UK, and the US.[16]
Although you can apply for BEA’s CorporatePlus Account online, you may have to complete identity verification and sign an application form at the bank’s branch to proceed with the process.
Bank of East Asia CorporatePlus Account Key Features
- CorporatePlus Account: A business integrated account that allows you to access HKD current account, statement savings account, and time deposit account under one account number.
- Optional Sub-Accounts: You have the option to apply for a USD current account, a securities account, and a linked deposit account.
- BEA Corporate Card: Physical Mastercard® corporate card with a 1% cash rebate for eligible transactions. Provided upon request.
- Deposit Card: A card that enables you to deposit cash or cheques through BEA ATMs.
- MPF, Auto-pay, and Payroll Services: Pay salaries in HKD or RMB to multiple employee accounts in different local banks on a pre-set date and generate HR, MPF contribution, and tax reports. [17]
Opening a Bank of East Asia CorporatePlus Account Online
Eligibility | Sole proprietorships, partnerships, or limited companies incorporated and have business operations in Hong Kong. |
Required Documents |
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How to Apply Online | Submit supporting documents online and verify your identity as a branch, call to make an appointment, or visit a Business Centre. |
Account Opening Time | Not specified |
Account Monthly Fees | HKD 150 (waived if reached a threshold of daily relationship balance) |
Initial Deposit | HKD 10,000 for companies in special industries, including money services businesses. |
Account Opening Fee | HKD 10,000 (for companies in certain industries or with complex business structures) |
Who Should Consider the Bank of East Asia?
Bank of East Asia Is Right If
✅ If your business focuses on the local market and has a physical presence in Hong Kong.
✅ If you are a start-up at the earlier stage of growth.
✅ You want to benefit from cashback and reward programs from your company card expenses.
Things to Consider
❌ The business account only supports HKD.
❌ The application process may require a visit to a physical branch.
❌Might have to pay a high account opening fee.
7
ZA Bank Business Account
ZA Bank was the first virtual bank to fully operate in Hong Kong in 2020. It is owned by ZhongAn Technologies International Group (ZA Global).
As a digital-only bank, ZA Bank offers a range of personal and banking services, including virtual bank accounts, loans, and foreign exchange, completely online without a physical branch. It currently serves over 700,000 customers on its platform, making it the largest virtual bank in Hong Kong by users.[18]
ZA Bank Business Account Key Features
- Business Account: A business current account that facilitates local and overseas transfers in HKD, CNY, and USD.
- Time Deposit: Place time deposits in HKD, CNY, and USD anytime.
- SME-Friendly Foreign Exchange: 24/7 foreign exchange service with real-time quotation.
- Small Business Loan: Businesses that have been operating for more than 1 year can apply for a loan of up to HKD 4,000,000, backed by the SME Financing Guarantee Scheme.[19]
Tip: Explore ZA Bank business banking in our detailed ZA Bank business account review.
Opening a ZA Bank Business Account Online
Eligibility | Sole proprietorship, partnerships, and companies registered and operating in Hong Kong. All shareholders and directors must hold a valid HKID and are Hong Kong tax residents. |
Required Documents |
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How to Apply Online | Fill in the online application form, verify your identity and confirm the application through the mobile app, and verify the company information through a phone call. |
Account Opening Time | As fast as 1 working day |
Account Monthly Fees | Waived |
Initial Deposit | HKD 0 |
Account Opening Fee | HKD 1,200 (for remote account opening) HKD 10,000 (if required for a physical visit) |
Helpful: Learn how to open a ZA Bank business account with our guide.
Who Should Consider ZA Bank?
ZA Bank Is Right for Your Business If
✅ If you prioritise digital-first banking approach.
✅ You want competitive rates, including interest rates and transfer fees, compared to traditional banks.
✅ You need 24/7 customer service, making it a good choice for small businesses that might not have time during normal working hours.
Things to Consider
❌ While the account supports HKD, CNY, and USD, these currencies might not be sufficient when companies start expanding.
❌ Only Hong Kong companies with all shareholders and directors holding HKIDs are eligible to apply.
❌Charges an account opening fee.
What Is a Business Account?
A business account is an account opened under the company’s name, with the primary purpose of handling financial transactions, such as paying suppliers, receiving invoice payments, and day-to-day business transactions.
Having a dedicated business account means you will have a clear record for accounting and, most importantly, allows you to separate personal and business finances.
Whether you are planning to use the business account locally or for international trade, a Hong Kong business account will allow you to manage your business finances smoothly, no matter your organisation’s size or banking needs.
Can you have multiple business accounts? The answer is yes. Many businesses find it advantageous to have multiple business accounts to improve financial oversight, reduce risk, and enhance financial management capabilities.
Next, let’s take a look at the essentials you need to know and what to prepare to open a Hong Kong business account. While each institution has its own terms regarding the business account opening process, this overview will give you general guidelines on the eligibility and required documents.
What Documents Do You Need?
Typically, you will be required to prepare the following documents when applying for a Hong Kong business account:
- Company Incorporation Documents: Including a Certificate of Incorporation and a Business Registration Certificate.
- Article of Association: A document outlining the rules and regulations governing your company's internal management and operations.
- Identification Documents: Such as HKIDs or passports of the directors, shareholders, or ultimate beneficial owners.
- Proof of Address: This could be a recent utility bill, bank statement, or official correspondence showing the business or residential addresses.
- Board Resolution: You may have to provide this document that authorises the business account opening and designates the individuals who will operate the account.
In addition to the listed documents, you should also be prepared to provide information like your company’s business plan, including your primary activities and target market, your recent financial statement if you’re already operating, and a company structure chart.
Useful Resource: This guide will explain the business bank account opening process in Hong Kong in more detail.
Which Company Types Are Eligible?
Traditional banks and financial institutions in Hong Kong typically offer business accounts to the following entities:
- Hong Kong-Registered Companies: Limited companies registered and operating in Hong Kong are generally eligible to open a business account.
- Sole Proprietorships: Some banks and account providers allow registered sole proprietors to open a business account in their own name.
- Partnerships: General and limited partnerships are also eligible to open a business account at most banks.
- Overseas Companies: Companies incorporated outside Hong Kong or with foreign owners can open Hong Kong business accounts, but the requirements and application process may be more complex depending on each bank.
Tip: If you don’t already have a company incorporated in Hong Kong, you will need to register a Hong Kong company first, in order to open a business account.
Final Note
Deciding which business account is best for your business will depend on your needs and the features you might be looking for.
To help with this, we've researched and published in-depth reviews of business accounts, including some mentioned in this article, to give you all the information you need to make an informed decision.
To read our reviews, you can visit business account reviews and find the best business account for your business today.
FAQs
What should I consider when choosing a business bank account in Hong Kong?
When choosing a business account, you need to consider the account's features, such as multi-currency support, transaction fees, ease of international payments, integration with accounting software, and customer service quality.
How do you open a business account in Hong Kong?
What are the best business accounts in Hong Kong?
Which documents do you need to open a business account in Hong Kong?
How much does it cost to open a business account in Hong Kong?
