Banking in Hong Kong

Hong Kong is one of the best banking destinations in the planet. It is the most important financial hub in the Far East and one of the freest economies in the world. We would not be a serious provider if we did not have experts in Hong Kong. But we do, and we can help you open a corporate bank account. In fact, for premium clients that can open a bank account with $2 million, we can help them do so remotely.

So, why should you have a bank account in Hong Kong?

• Hong Kong is China’s entry door. It is the only place in Mainland China that allows free flow of capital and half of China’s FDI flows through Hong Kong.
• The Hong Kong Dollar is the ninth-most traded currency in the planet.
• Fully whitelisted with OECD compliance
• The most important banks in the world are present in Hong Kong and generally have high liquidity levels.
• Incorporating a business only takes a couple of days
• Hong Kong is the biggest free port in the world
• It has a territorial, low-tax system
• We can open remote bank accounts for VIP clients that open an account with a minimum of $2m.

And through our partners in Hong Kong, we are offering an unbeaten package that includes:

• A duly registered company in Hong Kong with all its documents
• A bank account in Hong Kong
• A crypto wallet

Such a package generally costs $6000, but we are offering it for just $2740.

Banks in Hong Kong

The Hongkongese banking system is made up by three tiers:

• Licensed banks: banks that accept deposits and operate accounts
• Restricted licensed banks: They offer investment consultancy and take deposits of over HK$500,000 (US$64,500)
• Deposit-taking companies: these companies provide specialized services in financial services for consumers and take securities over HK$100,000 ($12,900)

Hong Kong has over 150 licensed banks. Nevertheless, they are stringent and selective on who they choose as customers. Only a few of them open accounts for residents.

Virtually all Hong Kong banks have excellent online banking services, meaning you can handle your account from your home without problems. Further, corporate bank accounts in Hong Kong are multi-currency. This adds an additional layer of protection and diversification. Your Hong Kong account will allow you to simultaneously hold US Dollars, Hong Kong Dollars, Australian Dollars, Euros, Pounds, Yen, Yuan, among other currencies.

What do you need to open a bank account in HK?

As usual, specific documents vary between banks. Yet, there is a set of documents that are widely the same. To open a personal account in Hong Kong, you will be generally required a proof of address and your passport. However, as a non-resident, you will likely also need a banking reference, source of funds, and minimum deposit. All documents should be in English or Chinese, or translated by a certified translator. However, it is not possible to open a personal bank account in Hong Kong remotely.

To open a corporate bank account, the bank will likely ask for the same documents of a personal accounts of all the signatories of the account. Also, it will ask for certified copies of the company documents (articles of association, by-laws, and similar), and, in some instances, banking and commercial references. Certain banks may also ask additional questions about your clients, your transaction handling, and your transaction volumes.

Of course, this is if you open the account in person.

Hong Kong tax regime

Hong Kong has one of the most favorable tax regimes in the world. The fiscal policy of this city is an example for the entire world. It is envied to the point that many international predatory organizations have tried, unsuccessfully of course, to blacklist it.

Hong Kong has no capital gains tax, no VAT, and no withholding taxes on dividends. Plus, the system is territorial. That means that if you have a company located in Hong Kong, you will only pay taxes over your HK-sourced income and no other jurisdiction would be able to claim taxes over your worldwide income. The corporate tax is a bracketed system that goes from 8.25% to 16.5% for corporations and from 7.5% to 15% for unincorporated businesses. 

What can we do for you?

In Mundo, we have 25 years working with NTL helping high net worth individuals, investors, and businesspeople find banking and corporate solutions all over the world. 

We have built an unparalleled network of experts that includes Hong Kong. Our experts can help you open a bank account in Hong Kong. In fact, if you are VIP customer that can open an account with a minimum amount of $2m, we can help you open the account remotely with one of the best banks in Hong Kong.

Our partners have won corporate advisory given by some of the best banks in Hong Kong and are certified by the Hong Kong Trade Development Council (HKTDC). 

So, what can our partners do for you?

They can help you open a corporate bank account. They operate with plenty of banks in Hong Kong. Citi, DBS, you name it. You can choose depending on your needs.

The bank account is multi-currency allowing all the main currencies in the world: USD, EUR, GBR, CNY, AUD, JPY, NZD, HKD.

Our partners also have a pre-approval test. This means they make a pre-evaluation of your profile to see if will be acceptable to their partner banks. Thus, they will review your KYC and CDD compliance to see if you are fit. This greatly enhances your chances of success.

Our partners will ask for the passport copy and proof of address of all beneficial owners, the main documents of the company and its business plan. After two to seven working days, they will let you know if you are acceptable for Hong Kong banks. Our experts will give you first-level, personalized KYC support to improve your chances of approval.

Afterwards, how does the process go?

1. Send your copies via email. The experts will review your documents and may ask you to improve your applications.
2. Then, they will tell you the upfront service fee depending on the banks you are interested in and may work for you.
3. Pay the professional fees.
4. Wait for a few days, and you will receive a response.

So, why choose to work with our Hong Kong partners?

They know banks in Hong Kong. They are knowledgeable with their KYC and CDD updates and have an excellent network of bankers. 

They save you a ton of work. Opening a corporate account takes over 30 hours of work. Our partners will save you that time by 1) selecting potential banks, 2) preparing applications, 3) arranging supporting documents. 

Lastly, they follow the process. Some providers just apply and let the bank do the rest. They do not care if the application was done properly. That is not the case with our experts. They follow the process and keep the communication with the bank, so you know the progress of the application at each step. 

What documents you'll need to submit to start the process?

• Company document in Hong Kong (if available)
• Passport copy of signatories
• Passport copy and address proof of signatories
• Operating company document in the home country
• Business card or company website (if applicable)
• Invoices and agreements to clients of less than three months old
• Purchase contracts or agreements from suppliers of less than three months old
• Business plan
• Correspondence with primary suppliers and buyers
• Three-month bank statements (personal and corporate)
• Financial report
• KYC form
• CV of signatories

Opening a bank account in Hong Kong may seem like a difficult process. Yet, it is necessary. With our experts, it is way simple, and they have excellent success rates. If you want your business to take the next step, opening a corporate bank account in Hong Kong is a sound decision.

Enquire now, and you'll get the best experts in Hong Kong!

Contact us