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How to Open a Bank of China (Hong Kong) Business Account Online in 2024

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Bank Of China Hong Kong Overview

Bank of China (Hong Kong) Limited, commonly referred to as BoCHK, is a leading commercial banking group in Hong Kong. It operates as a subsidiary of the Bank of China, one of the largest commercial banks in China

BoCHK holds the distinction of being one of the three banks authorised to issue Hong Kong Dollar (HKD) notes. In addition, the bank serves as the sole clearing bank for renminbi (RMB) transactions in Hong Kong. Moreover, BoCHK has extensive RMB franchises, making it a top choice for customers engaged in the RMB business.

BoCHK provides a comprehensive range of banking services to retail and corporate customers. Their offerings include personal banking, business banking, insurance, wealth management, and more.

Key Information Description
Eligible Countries • Bermuda
• The British Virgin Islands (BVI)
• Cambodia
The Cayman Islands
• Great Britain
• Hong Kong
• Indonesia
• Laos
• Macau
• Mainland China
• The Marshall Islands
• Mauritius
• Myanmar
• The Philippines
• Singapore
• Taiwan
• Thailand
• Vietnam
• Western Samoa (Samoa)
Eligible Company Types All types of businesses
Initial Deposit We cannot find information regarding the initial deposit requirement.
Account Opening Fee Hong Kong companies: HKD 1,200
Mainland China companies: HKD 3,200
Macau/Taiwan companies: HKD 6,200
Overseas companies: HKD 6,200

An additional fee of HKD 5,000 applies for companies with 4 or more layers.
How Long Does It Take to Complete the Application? Within 20 minutes
Average Opening Time For sole proprietorships, partnerships, or single-layer limited companies incorporated in Hong Kong, the business account can be opened within 3 business days
100% Online Application Only if your business is eligible to open a business account remotely.
Key Things To Know Remote account opening requirements are

• Your business is registered and incorporated in Hong Kong;
• Your business entity is a sole proprietorship, partnership, or limited company (including limited by guarantee company) with annual sales turnover that meets the BoCHK conditions;
• Your business should not have corporate shareholders;
• The related party(ies) should not exceed 10 and must be a Hong Kong Identity Card holder(s).
Best BoC Hong Kong Alternative Statrys: A multi-currency business account capable of holding 11 different currencies under one account number, featuring a cost-effective and transparent pricing structure.
Statrys mobile application dashboard showing a total balance in a business account.

Types of Accounts Available

Bank of China Hong Kong business accounts offer companies comprehensive banking services, including deposits, loans, credit cards, payroll services, trade services, and investments.  BoCHK categorises its business accounts into three tiers:

  • Business Integrated Account,
  • Business Integrated Account Plus,
  • Business Integrated Account Elite.

The key differences between the 3 tiers can be found in the Business Integrated Account comparison document.

Eligibility

We will outline the eligibility requirements to help you determine if you can open a business account with BoCHK.

Eligible Countries

Here is the list of countries and territories eligible for opening a business account with the Bank of China Hong Kong.

  • Bermuda
  • The British Virgin Islands (BVI)
  • Cambodia
  • The Cayman Islands
  • Great Britain
  • Hong Kong
  • Indonesia
  • Laos
  • Macau
  • Mainland China
  • The Marshall Islands
  • Mauritius
  • Myanmar
  • The Philippines
  • Singapore
  • Taiwan
  • Thailand
  • Vietnam
  • Western Samoa (Samoa)

💡 Helpful Resource: Learn how to register your Hong Kong business with our detailed guide. 

Company Types Eligible

Bank of China Hong Kong offers business account services to a broad range of company types, including but not limited to sole proprietorships, partnerships, society, limited liability companies, and public limited companies.

What Documents Do I Need to Open a BoC Hong Kong Business Account?

BoCHK outlines the required documents for opening a business account. For example,

All submitted copies of documents to the bank must be certified as true copies of the originals, and any documents related to account opening must also be witnessed by one of the following:

  • A recognised certified public accountant, lawyer, banker, or notary public,
  • A member of the Hong Kong Institute of Chartered Secretaries (HKICS),
  • BoCHK team.

In addition, at least one of the key persons must visit the BoCHK branch for account opening.

Lastly, please refer to the complete document checklist for SME businesses, Hong Kong companies, and overseas companies for more details.

Statrys mobile application dashboard showing a total balance in a business account.

How To Open a BoC Hong Kong Business Account Online

To open a Bank of China Hong Kong business account remotely, you must fulfil the following criteria.

  1. Your business is registered and incorporated in Hong Kong;
  2. Your business entity is a sole proprietorship, partnership, or limited company (including limited by guarantee company) with annual sales turnover that meets the BoCHK conditions;
  3. Your business should not have corporate shareholders;
  4. The related party(ies) should not exceed 10 and must be a Hong Kong Identity Card holder(s).

Step 1: Make an Account Application

First, access theRemote Account Opening” page and click “Apply Now” at the bottom of your screen to create your account application.

Step 2: Create Your Profile

Create your account profile with basic business information, including

  • the full name of the contact person,
  • the HKID card number,
  • business email,
  • mobile number,
  • and the number of your business registration certificate or certificate of incorporation.

Then, agree on terms and conditions to proceed.

Step 3: Enter Details of Your Business

Fill in the account application form with details of your business.

Step 4: Submit Your Documents

Upload the necessary documents and submit your application. After review, the Bank of China Hong Kong team will contact you to confirm whether you can proceed with the remote account opening process.

Step 5: Digital Verification

Download the BOCHK iGTB MOBILE app to verify your identity online.

Step 6: Confirm Your Application

Confirm the information and supporting documents you submitted. Complete the “Self-Certification Form” and read all the rules to confirm the account opening.

Step 7: Pay the Fee and Activate Your Account

An account opening fee will be applied. After payment, you can access Corporate Internet Banking to activate your business account.

How Long Does it Take to Open a BoCHK Business Account?

If your business operates as a sole proprietorship, partnership, or single-layer limited company in Hong Kong, your account can be opened within 3 business days after the submission and payment of your application.

However, if a physical visit is required to complete your business account application, the timeframe can be extended to several weeks.

How Much Does It Cost to Open a BoCHK Business Account?

Fee Type Amount
Hong Kong companies HKD 1,200
The Mainland China companies HKD 3,200
Macau/Taiwan companies HKD 6,200
Overseas companies HKD 6,200
Additional fee for 4 or more layers of a company HKD 5,000

How to Contact Bank of China Hong Kong's Customer Support

You can contact the Bank of China Hong Kong via multiple channels, including

  • Hotline: +852 3988 2288 (for new customers), +852 3988-1333 (for existing users),
  • Chatbot,
  • Visiting at any branch (appointment needed),
  • Fill in the query form.

Moreover, BoCHK provides dedicated hotlines for various services. Please visit theenquiry hotline” page for details.

Alternative Solution: Statrys

Hong Kong is a major financial centre that offers a wide range of financial and banking services. Among these options, we will introduce you to a notable alternative – Statrys.

Established in 2019 by Bertrand Theaud, Statrys is a fintech firm dedicated to enhancing financial solutions for SMEs. As a licensed Money Service Operator in Hong Kong, Statrys offers multi-currency accounts, supporting 11 major currencies to companies incorporated in Hong Kong, Singapore, and the British Virgin Islands (BVI).

Statrys has simplified the account opening process by offering remote account opening to all applicants. Furthermore, 85% of our applicants successfully open their business accounts as fast as 3 business days.

Statrys’ Key Services

Key Features Description
Multi-Currency Business Account Hold, receive, and send money in 11 currencies: USD, HKD, CNY, AUD, EUR, GBP, SGF, JPY, CHF, NZD, and CAD.
Business Account Opening Requirements Must be incorporated in Hong Kong, Singapore, or the BVI.
Business Account Opening Time 3 days on average 
Initial deposit  HKD 0 
Account Opening Fee HKD 0
Except for special companies registered outside Hong Kong, Singapore, the BVI or companies with complex structure
Monthly Fee Free (if 5 or more outgoing transfers made in the month)
Customer Support Channels Website, Live Chat, Email, Phone, WhatsApp, and WeChat
Swift Payments & Tracking yes
Local Payments Send local payments in 14 currencies: HKD, AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, and VND
Payment Cards Virtual and physical business cards with built-in controls to manage expenses
ATM cash withdrawals yes
FX Rate and Fee Competitive exchange rates with fees as low as 0.15% (spot and forward contracts)
Xero Integration yes
Free Invoicing Software Create, manage, and send invoices efficiently
Company Registration Service 100% online Hong Kong and Singapore company registration.
Trustpilot Score 4.6/5, based on 254 Statrys reviews on Trustpilot 
Statrys mobile application dashboard showing a total balance in a business account.

FAQs

What is the Bank of China Hong Kong?

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The Bank of China (Hong Kong) Limited, commonly known as BoCHK, is a leading commercial banking group in Hong Kong. It operates as a subsidiary of the Bank of China, one of the largest commercial banks in China. BoCHK is one of three note-issuing banks, and it serves as the only clearing bank for Renminbi (RMB) transactions in Hong Kong.

What are the services provided by the Bank of China Hong Kong?

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Can I open a business account with Bank of China Hong Kong online?

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How much is the account opening fee for Bank of China Hong Kong?

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What documents do I need to apply for an account?

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Disclaimer

More info

Statrys competes directly with the Bank of China Hong Kong in the payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.

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