How to Open a Bank Account in Hong Kong - A Quick Guide [2025] 

Opening a bank account in Hong Kong is an important step for anyone looking to live or work in the jurisdiction. However, in 2025, the process can be complex for non-residents due to strict regulations and in-person requirements.

Understanding the steps and knowing what to expect in advance can save some frustration . In this guide, we’ll share practical insights, explaining everything you need to know about opening a personal bank account in Hong Kong, including the application process, required documents, requirements for foreigners, and associated fees.

Before we go into the steps, here are some key points to understand about banking in Hong Kong, especially if you’re applying as a foreigner or from overseas.

• Foreigners and non-residents can apply for a Hong Kong bank account, but the process is often more difficult and may require an in-person visit to a branch. Most traditional institutions prefer applicants to hold a long-term visa and to provide reasons for opening the account. They may also request documents, like a letter of reference from your home bank.
• Some digital banks support online-only applications, but these are usually limited to Hong Kong residents holding an HKID. 
• Multi-currency support varies. Not all banks allow you to hold or receive foreign currencies apart from the Hong Kong dollar. Among those that do, most support 3 currencies: Hong Kong Dollar (HKD), Chinese Renminbi (RMB), and US dollar (USD).

Now that you know what to prepare, let’s dive into how to open a bank account in Hong Kong. While specific steps may vary between banks, this general outline can give you a good idea of what to expect.

Hong Kong has over 100 banks regulated by the Hong Kong Monetary Authority, each with different banking services and target customers. To find the right fit, you’ll want to start by covering the basics: check if they have the services you need, make sure fees fit your budget, and confirm that you’re eligible to open an account.

When choosing a bank in Hong Kong, you can decide between traditional banks and digital banks.

Most Hong Kong banks prefer applicants to be Hong Kong residents with an HKID, though some banks allow non-residents to open accounts.

All licensed Hong Kong banks, whether virtual or traditional, are part of the Deposit Protection Scheme, which covers up to HKD 800,000 per depositor.

Next, gather the required documents. Requirements vary by bank, but most provide a checklist on their website. You’ll likely need the following to open a Hong Kong bank account:

• Hong Kong Permanent Identity Card (HKID Card) 
• Valid passport or People's Republic of China Resident Identity Card for non-residents
• Proof of Address, such as recent utility bills, a rental agreement or other official documents. Your bank should provide a list of acceptable options.
• Hong Kong mobile phone number

Generally, banks in Hong Kong accept documents in either English or Chinese. If documents are translated, they may need to meet specific formatting or translation requirements, such as being certified by a qualified translator.

With your documents ready, you can apply at a branch or online through the bank’s website or app, filling in details and submitting electronic copies. Some banks may require clients to schedule an appointment and bring physical original documents along with copies.

In this step, the bank reviews your application thoroughly to confirm your eligibility. They then carry out the KYC (Know Your Customer) process, a regulatory requirement where the bank verifies the applicant’s identity and assesses potential financial and legal risks. This helps prevent identity theft, fraud, and money laundering.

💡 What to expect

• Additional requests: Banks may ask for more specific documents, such as your source of funds.
• Interviews: In some cases, banks may request a verification interview. Traditional banks usually do this in person, while digital-first banks may allow video calls, but typically in the case that the applicant is a Hong Kong resident.

Once your application is approved, you should receive the bank account details. You may be able to use the account immediately, or you might first need to make a minimum deposit and set up online or mobile banking to activate it.

Some banks in Hong Kong, especially digital ones like ZA bank and Livi bank, offer online and mobile account opening processes. However, this is primarily available for permanent residents with Hong Kong Identity Cards (HKIDs). 

If you don’t have an HKID, opening an account entirely online can be trickier. While some banks allow you to start the application online, you may still need to complete it with a branch visit. Eligibility requirements vary depending on the bank.

You may also consider financial service providers or fintech companies, which are more likely to let you open an account remotely from your home country.

To open a new account online, you can follow these steps: 

• Download the bank’s mobile app or access their website
• Fill in the application form, which typically asks for your name, address, and contact information. 
• Upload the supporting documents, like proof of identity (passport or HKID) and proof of address (utility bill, lease agreement, etc.).
• Complete your identity verification, which may involve recording a video of yourself or providing additional biometric checks like facial recognition.
• Activate your account once approved. 

Foreigners and non-residents can open bank accounts in Hong Kong, but the process often requires extra documents, and some banks offer fewer options. Eligibility and required documents vary by bank, but here’s a look at what you’ll often need.

International banks such as HSBC, Citibank, and Standard Chartered are generally more open to foreign applicants. Some allow you to start the process online, but interviews (in person or by video) are often required.

Opening a bank account in Hong Kong involves a number of common bank fees. Initial deposits and possible minimum balance requirements may also apply.

Here’s what to expect:

It’s also important to note that different banks have different fee structures, which can vary across their account types. Some may offer promotional fee waivers if you meet certain criteria, so it’s best to check the exact fees directly with the bank.

Opening a bank account in Hong Kong is mostly about meeting the bank’s identity checks and proving your reasons for banking in the city. The process is more straightforward for residents and holders of HKID, while non-residents may need to provide additional documents or attend an in-person review. However, with the right provider, it is possible to open an account. 

If you also have business activities or plan to start one, it’s also important to keep personal and business funds separated. Having a dedicated business account, whether from a bank or a regulated non-bank provider, makes your records clearer, reduces compliance issues, and simplifies tax time.