Is it possible for a foreigner or non-resident to register a company in Hong Kong and open a bank account?
Yes. If you meet all the requirements, bank account opening and registering a company in Hong Kong are still available for foreigners and non-residents.
Below are the requirements for:
Company Formation :
• Proposed company name and incorporation application form
• At least 1 director, 1 shareholder, and 1 company secretary
• Passport of all directors and shareholders with 25% or more shares.
• Registered office address in Hong Kong
Bank Account Opening :
• A physical registered address in Hong Kong with a rental agreement under HK’s company name if it is on a lease.
• HK ID card or work visa of the company director.
• Company incorporation documents and certified true copy of Business Registration Certificate.
• Audited financial statements, business plans, contracts or agreements, and invoices as supporting documents.
Remember that Know-Your-Client (KYC) procedures are closely followed by banks in Hong Kong in order to accurately screen out applications. It enables each bank to accurately determine the source of the applicants’ cash and the type of transaction they might anticipate from them.
We strongly advise enlisting the help of a corporate bank account service provider. They are able to assist you with the compliance procedure, offer pre-assessments to see whether your company profile matches a bank preference, and make suitable recommendations to improve your application.