Can I open a Hong Kong bank account in Mainland China?
Identity verification procedure execute outside Hong Kong
In recent decades, the development of globalization has accelerated. Cross-regional economic activities have also become more frequent. More and more China enterprises are actively planning to enter and expand their overseas markets. Typically, China enterprises will set up a Hong Kong or overseas company and open an offshore bank account for their business transactions with foreign customers and to manage their own capital flows.
Hong Kong respects free flow of capital. There is no restriction over capital movement for Hong Kong bank accounts and funds could be withdrawn in multiple countries with just ATM cards. Therefore, Hong Kong bank accounts have long been the top choice by the China enterprises.
Most banks in Hong Kong now offer multiple account opening solutions. Even if the owner of the company is in Mainland China and could not visit Hong Kong in person, he or she can still complete the account opening process by either go to a bank branch in Mainland China or via video conference.
For more information of《Witness account opening in Mainland China》, please contact our corporate service manager by e-mail to info@atrixbiz.com.
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Since a Hong Kong business bank account can only be applied after the establishment of a Hong Kong company (or an overseas registered company), it is recommended to prepare the following company documents first.
In general, the types of documents you need to prepare include but are not limited to those listed below, which may vary by company type.
Information of Hong Kong company
- Business Registration Certificate
- Certificate of Incorporation
- Annual returns (if applicable)
- Articles of Association
- Audited Financial Statement
After submission of application, the banker will contact you to check the submitted documents, and begin to understand the purpose of opening a bank account, the expected account activities, business nature and operation mode, etc.
Customer Due Diligence
- Company background and business nature
- Annual sales turnover
- Annual net profit
- Reasons for setting up a company in Hong Kong
- Number of employees in Hong Kong
- Bank statement dated within the last 3 months
- Business proof such as contracts, invoices, shipoing list, bill of lading (2 copies each for purchase and sales, need to correspond to the monthly statement transaction records of the last 3 months and highlighted)
Since the circumstances might vary from case to case, you may need to submit additional supporting documents after the phone call with the banker. E.g:
Related China Companies / Overseas Companies
- Business License / Certificate of Registration
- Articles of Association
- Bank statement dated within the last 3 months
- Financial Statement
- Business proof such as contracts, VAT invoice, invoices, shipoing list, bill of lading (2 copies each for purchase and sales, need to correspond to the monthly statement transaction records of the last 3 months and highlighted)
Information of all director(s) and shareholder(s) holding 10% or more of the issued voting shares
- National identity card / Passport / Exit-entry permit for travelling
- Personal bank statement for the past month