Anybody can open a bank account in Hong Kong, whether resident or non-resident. In Hong Kong, non-residents only need to present proof of a home country address in order for a bank account to be opened on their behalf.
Foreigners not resident in Hong Kong and looking to open a non-resident bank account in Hong Kong can do so by contacting the bank they want to open an account with. You can get a list of Banks in Hong Kong by searching the internet or going through financial periodicals from Hong Kong.
Your particular preferences should guide your choice, though it is important that you carry out adequate research before settling for a bank.
You should be aware of things like the minimum opening deposit and the KYC standards of the institution you choose to bank with. You should ensure that you are able to meet up with these special procedures before attempting to open a non-resident bank account in Hong Kong.
If your request is refused, you cannot try again to open a bank account in the bank you’ve selected
Upon settling for a bank of your choice, you will have to contact the bank directly and request for an account to be opened for you. You will be required to provide a physical home address. The home address will enable the bank exchange correspondence with you and will also serve as a proof of address, in the event that you do not intend maintaining a permanent residence in Hong Kong.
If you decide to open your account in person, you will need to provide some form of identification for example an international passport or a Hong Kong Identity Card (HKID). You will also be required to produce some documentation evidencing your home address, usually a utility bill.
Client information typically requested to open a Hong Kong corporate account include:
- A detailed business plan with information on and evidence of products and services mentioned in the application
- Examples of contracts and invoices generated by and for the newly-incorporated company to support the offshore account application
- Recent proof of address of the bank signatories (in English) to accompany the application
- Passport copies of bank signatories; a bank reference letter for the bank signatories
An ordinary cash account can be opened within a day or two. Special accounts that provide you with ATM or credit card facilities may require a longer duration (1 or 2 weeks). Using your ATM and credit cards are usually free of charge, though you may incur some charges when withdrawing cash from another bank’s ATM.