How to Open a Standard Chartered Business Account in Hong Kong

Standard Chartered Bank (Hong Kong) Limited has been operating since 1859 and is one of the three note-issuing banks authorised by the Hong Kong Monetary Authority in Hong Kong.

As an established bank, Standard Chartered Hong Kong offers banking services for personal and business needs. Their products include savings accounts, time deposit accounts, business accounts, credit cards, loans, foreign exchange, and insurance. 

This article will walk you through the Standard Chartered Hong Kong business account opening process. We’ll be sharing helpful information about eligibility criteria and required documents to set up your account smoothly.

Standard Chartered Hong Kong offers bank accounts for both individual and business clients. However, this guide will focus on their business accounts.

Standard Chartered Bank Hong Kong offers bank accounts for businesses of all sizes, from SMEs to businesses expanding internationally and established corporations.

A Standard Chartered business account allows you to access a global remittance service in 11 major currencies, including AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD, and RMB. Moreover, their business accounts support international and local transactions through SWIFT payment and FPS bank transfers. 

As a business banking client, you can manage and send money via Standard Chartered Bank’s online banking platform, Straight2Bank, through the mobile app or web browser. 

We recommend that you contact their Business Banking Centre directly for more information regarding the types of accounts and banking plans.

Your company must not be involved in prohibited activities to open a Standard Chartered Hong Kong business account. Examples of restricted actions include the following:

• Involvement in child or forced labour and human rights violations.
• Engagement in oil and gas exploration or production in the Amazon Basin and the Arctic region.
• Production, manufacture, or trade of fur and Angora wool.
• Trading in shark fin products.

Here are the eligible criteria for opening a Standard Chartered Hong Kong business account. 

Countries Eligible

Companies incorporated in and outside Hong Kong can apply to open a Standard Chartered business account in Hong Kong. However, overseas companies need to pay additional fees and meet other requirements.

Standard Chartered does not allow direct or indirect access to any of its banking services in sanctioned countries and regions, including Cuba, Iran, North Korea, Syria, Crimea and Sevastopol. Companies operating in these countries cannot apply for a business account.

Company Types Eligible

The following are the eligible company types:

• Sole Proprietorship
• Partnership
• Limited Companies
• Society / Association
• Owners Incorporation

The documents you will need to open a business account with Standard Chartered Hong Kong vary according to the structure of your business. Below is a breakdown of the required documentation.

Sole Proprietorship

• A copy of individuals’ identity documents.
• A copy of the Business Registration Certificate.
• An Account Opening Form, Mandate, and Schedule (Signatories).
• An Account Opening Supplement.

Partnerships

• A copy of individuals’ identity documents.
• A copy of the company organisational chart showing the shareholding and management structure of the company.
• A copy of the Business Registration Certificate.
• A partnership deed (if applicable).
• An Account Opening Form, Mandate, and Schedule (Signatories).
• A FATCA Form.
• A CRS Entity Self-Certification Form.

Limited Companies

• A copy of individuals’ identity documents.
• Articles of Association.
• Related documents for companies with corporate directors.
• Copies of particulars of directorship and company secretary.
• A copy of the company organisational chart.
• A copy of a resolution by the board of directors, which is a document that records decisions made by a corporation's board of directors or shareholders.
• A copy of the Business Registration Certificate.
• A copy of the Certificate of Incorporation/Registration.
• An Account Opening Form, Mandate, and Schedule (Signatories).
• A FATCA Form.
• A CRS Entity Self-Certification Form.

Society/Association

• A copy of individuals’ identity documents.
• A copy of the Certificate of Registration.
• A copy of the application for charges of particulars of registered and exempted societies.
• A copy of the Constitution/By-laws.
• An Account Opening Form, Mandate, and Schedule (Signatories).
• A FATCA Form.
• A CRS Entity Self-Certification Form.

Owners Incorporation

• A copy of individuals’ identity documents.
• A copy of the Certificate of Registration.
• A copy of the subsequent notice of change of particulars of office-bearers of its management committee.
• An Account Opening Form, Mandate, and Schedule (Signatories).
• A FATCA Form.
• A CRS Entity Self-Certification Form.

Additionally, you must provide information regarding the nature of your business, including:

• The principal place of operation
• The main products or services that you provide
• Number of employees and anticipated net profit
• Major import and export countries
• Your primary source of funds and income
• Information on direct or indirect dealings or ownership interests in countries such as Iran, Syria, North Korea, and Cuba or regions such as Crimea or Sevastopol.

Do note that all documents must be certified as true copies.

For a detailed required document checklist for companies incorporated in different countries and regions, please refer to the Business Banking Forms and Documents page.

You can apply for a business account with Standard Chartered online by submitting the required documents through their website. However, mobile account opening is not available for business banking services.

Here are the steps to follow:

Step 1 - Provide Your Basic Information

Fill in your information, including

• Your company name and business nature
• Your company registration number
• Your full name
• Your email address and phone number
• Your contact person's name and phone number

Step 2 - Upload All Required Documents

Select the document type, then upload your required documents based on your business structure.

Please note that each file has a maximum size of 5 MB, and the total size for all files combined should not exceed 20 MB.

Step 3 - Submit Your Application

Review all the details and documents you’ve uploaded to ensure accuracy, then submit your application.

Once you’ve submitted your application, Standard Chartered team will review it and get in touch with you within 5 working days. They may request additional documents if needed to complete your account setup.

It’s unclear whether an in-person meeting is required, but the bank will contact you directly with the next steps.

For business accounts and banking queries, call the Business Banking Service Hotline at +852 2886 6988 from 9 am to 6 pm on weekdays and from 9 am to 1 pm on Saturdays.

Additionally, you can visit SME Banking Centers for in-person customer support from 9 am to 5 pm on weekdays and from 9 am to 1 pm on Saturdays. The locations are as follows:

• Causeway Bay SME Banking Centre: M/F, Yee Wah Mansion, 38-40A Yee Wo Street
• Tsim Sha Tsui SME Banking Centre: 2/F, Golden Crown Court, 66-70 Nathan Road, Tsim Sha Tsui, Kowloon

Please note that while Standard Chartered offers a virtual assistant chatbot and live agent services, these are only available for personal banking customers.

If you are looking for an alternative to traditional banks and prefer a hassle-free way to save, send, and receive money in multiple currencies, consider Statrys. 

Statrys is fully licensed and operates as a Money Service Operator in Hong Kong and Small Payment Institution in the UK.

Our services are tailored for SMEs, offering multi-currency business accounts with 100% online account setup, no initial deposit, no account opening fees, and no minimum balance requirements. We also provide payment cards, FX services, and human-centric customer support.

For businesses incorporated in Hong Kong, Singapore, or the BVI, Statrys is your gateway to seamless financial management.

Here is a summary of Statrys’ services