Opening a Business Bank Account in Hong Kong [2025]

Getting a business account isn’t just helpful — it’s essential. You’ll need it to receive payments, pay suppliers, and handle basic operations. But for many entrepreneurs, the process turns out to be more complicated than expected.

I’ve been through it myself. And after working with thousands of business owners across 70+ countries, I know this isn’t just a paperwork issue — it’s a pain point that slows companies down.

Whether you're based in Hong Kong or applying from abroad, you’ll find everything you need to know — clearly laid out, without the banking jargon.

Let’s take a look. 

The answer to this question is both local and foreign businesses can open business accounts in Hong Kong. 

However, eligibility criteria can differ between banks. Some banks prefer local companies, while others accept foreign-registered businesses but may require a face-to-face interview for due diligence.

Banks typically accept common structures like limited companies and partnerships. Acceptance of sole proprietorships can vary, and they will often evaluate your business’s risk profile.

Yes, non-residents can open a business account in Hong Kong, but requirements and options vary by provider.

Most local banks have strict rules and usually require all relevant parties to visit in person. While some allow you to begin the application online, you’ll typically still need identity verification at a branch.

For non-Hong Kong residents, consider banks with an international presence that offer branch visits in your location. You can also explore options like HSBC international banking, though traditional banks may come with substantial fees. [1]

If you need a solution primarily for payments rather than traditional banking services, fintech providers can be a suitable alternative, as they often operate globally and may accept a wider range of applicants. However, they typically provide limited services, excluding features such as business loans, traditional debit or credit cards and interests. 

The documents needed to open a business account in Hong Kong vary depending on the financial service provider. Here are the common documents you’ll need to prepare:

Most banks in Hong Kong provide an application form and a document checklist on their website.

Setting up a business bank account in Hong Kong involves a few key steps. This part walks you through the process, from selecting the right provider to completing necessary compliance checks. 

The first step is selecting the business account provider that suits your business needs. Hong Kong offers a wide range of business bank account provider options, including: 

Once you’ve selected the right type of provider—whether a traditional bank, virtual bank, or non-bank alternative—the next step is to choose the Hong Kong business accounts that best fit your needs. Below are some options to consider:

• Statrys Business Account: A multi-currency account supporting 11 currencies, including HKD, USD, RMB, EUR, GBP, and more. Statrys offers international and local payments, FX services, and real-time international transfer tracking. No initial deposit.
• DBS Bank (Hong Kong) Business Accounts: DBS SME Banking's main offerings include a multi-currency savings account supporting up to 14 currencies and RMB corporate accounts focused on remittance to Mainland China. [2] [3]
• HSBC Business Integrated Accounts: The HSBC business accounts combine time deposits, savings and current accounts in HKD, RMB, and other foreign currencies. They also offer payroll services. There are three options: Sprint for startups, Business Direct for everyday banking, and BusinessVantage for advanced features. [4]
• ZA Bank Business Account: A fully digital business account that supports HKD, CNY, and USD, with small business loans and foreign exchange services.[5] It is available exclusively to Hong Kong tax residents, and all related parties must hold a valid HKID. [6]

The next step is to prepare the necessary documents. Each bank has different requirements, and the company’s structure can also influence what’s needed. However, most banks provide a checklist on their website to help guide you through the process.

If you want to open a business account with Statrys, here are the documents you need to provide:

• Copies of the passport(s) of the directors and shareholders
• A copy of your business registration certificate

Compared to traditional banks, the documents you need to provide to Statrys are much simpler, as you can see.

Once you’ve gathered all the necessary documents, you should begin your application. Most banks offer online applications, where you can fill in your information and upload the supporting documents on the web or mobile app. However, some banks may require you to schedule an appointment to submit your application and documents in person.

After submitting your documents, you'll need to complete the KYC (Know Your Customer) process to verify the identities of your company's directors and shareholders. Banks also want to understand your business, products, target market, and expected transactions. Some banks may also ask for proof of the company's source of funds, especially for new or international businesses.

Most traditional banks require an in-person interview, while some non-traditional options may offer digital KYC. 

After your application is approved, you can access your new business account. You may also have to take additional steps to activate your account. These can include:

• Setting up a mobile banking app or online banking platform.
• Linking your account to funding sources or transferring funds into the account.

The cost of opening a business account in Hong Kong varies widely depending on the provider. Traditional banks charge between HKD 10,000 and 100,000, while virtual banks and non-bank options like neobanks and fintechs typically offer free account openings. 

The following are typical costs associated with business account opening in Hong Kong:

Financial service providers, including traditional banks, often offer welcome offers, rebates, and fee waivers for new accounts and fund transfers made within a set period. For example, as of March 2025, the OCBC SME Biz Account has no opening fees or minimum account balance, but business owners and connected parties must have HKIDs to apply. [7] 

Both traditional bank and non-bank options come with other costs, such as transaction fees, exchange rates and fees, ATM withdrawal fees, inactivity fees, and an account closure fee.

Opening a business bank account in Hong Kong typically takes a few days to several weeks, but it can extend to months depending on the company’s complexity, and risk profile. Startups and businesses with limited financial history or unconventional models may face more scrutiny.

As of March 2025, banks like HSBC and DBS offer faster services for Hong Kong-incorporated businesses, approving accounts in 1–5 days, subject to conditions such as all shareholders, directors, or partners must hold a HKID. [8] [9]

Yes, it is possible to open a Hong Kong business account online, but it can be challenging with traditional banks. Some banks may allow Hong Kong residents to open accounts online, especially if you already have an account with them. However, non-residents typically cannot open their first account this way due to the complexities and potential security risks involved. 

If your primary goal is to facilitate international transfers rather than open a traditional bank account, you can also explore non-bank alternatives like Statrys, which allows for a fully online application process.

The process of opening a business account with Statrys is quite simple.

If your business is registered in Hong Kong, Singapore, or the British Virgin Islands (BVI), you can open a business account with Statrys 100% online, within 3 working days (subject to approval).

Simply visit https://statrys.com/signup/getstarted and follow the signup process, which takes only 5 minutes to complete. If you have any questions about the application or account, you can reach out to our team at https://statrys.com/contact or our live chat on the website.

Here are the services that we provide: