If you are in a high-risk industry, there’s one critical question you need to ask before you start applying for a business account: Is my industry eligible for a business account? In this video, we break down why industry risk matters, which industries get rejected most often, and what you can do to avoid common mistakes on your application.
You can have the right company, the right documents, and still get rejected for a business account.
Why? Because of your industry.
This is one of the most common reasons applications fail, and most entrepreneurs only realise it after wasting hours filling out forms. Financial institutions don’t assess risk based only on where you’re incorporated or whether you’re a foreigner. They look closely at what you actually do, and some industries raise red flags instantly.
In this video, we break down how banks and fintechs think about industry risk, why some perfectly legal businesses are still classified as high-risk, and how vague descriptions can derail an otherwise solid application. A few small checks before you apply can save you a lot of frustration later.
Related Videos
In this final episode of our eligibility series, we explain how payment routes and the countries you send funds to can affect your business account approval. Avoid the common pitfalls!
After opening a Hong Kong business account, maintaining compliance is key. This video shares 4 practical tips to avoid account freezes and compliance issues for Hong Kong business accounts.
Learn why traditional banking is challenging and how Statrys can streamline the process with a fully online multi-currency business account tailored for international businesses.
Register Your Company in Hong Kong
One package, all included.
Everything you need to get your business started.
