Open Bank Account Online
- a22162
- Feb 6, 2021
- 5 min read
Updated: Nov 3, 2024
How do I open a business bank account in Hong Kong? Can a foreigner open a bank account in Hong Kong? Can I open a bank account in Hong Kong online? Should you open a business bank account?
Before setting up a company bank account, be sure to register and incorporate your business as those documents will be required to support your bank account application. You will be advised by your bank on what other documents are needed.
When opening an account, keep in mind that Hong Kong banks usually require a minimum deposit. Your bank may also request the identity and residence information of all the company’s beneficial owners due to Hong Kong’s anti-money laundering guidelines.
Online Account Opening for Business
DBS
DBS Business Account
Apply online. Open your business account in as fast as 3 working days. A faster way to open an account for your business.
Business owners can now open an account anytime and anywhere, without having to schedule face-to-face meetings with the bank, or submit physical documents and signatures. The application process is completely digitised and paperless. It is part of a comprehensive suite of digital solutions, available through DBS online banking platforms for businesses in Hong Kong.
You can open a Multi-Currency Savings Account that lets you manage transactions in HKD, USD, RMB. Subsequently, you can also transact in AUD, CAD, CHF, DKK, EUR, GBP, JPY, NOK, NZD, SEK and SGD. During your application, you will be given the option to add a Current Account for HKD, RMB, or USD. Your application also comes with DBS IDEAL, their online business banking platform that gives you instant access to your account balances, make secure payments, and bank smarter and faster.
After your account is opened, you can contact them to apply for any of these services, or any other services that require a physical signature:
Trade facilities and services
Cheque book
Corporate ATM card
Investment account
DBS Online Account Opening for Business is available to any limited liability company incorporated and registered in Hong Kong SAR with no corporate directors, shareholders or authorised signatories.
Get your DBS Business Account seamlessly
Start your DBS Online Account Opening for Business Complete the application form and submit supporting documents online.
Verify your identity online Use your mobile phone to authenticate your identity.
Account opened Enjoy our full array of intelligent and intuitive banking services in as fast as 3 working days. This is DBS digibanking.
Non-permanent Hong Kong residents may be invited to join video conference or face-to-face meetings for identity verifications. Physical copies of identification documents certified by suitable certifiers should be delivered to DBS Bank (Hong Kong) Limited if meeting is conducted via video conference.
All Online Account Opening for Business applications are subject to approval by DBS Bank (Hong Kong) Limited.
01 Documents required for your industry
Required Documents for submission
Trading & Manufacturing
2 different sets Buyer Invoice e.g. Purchase Order, Order Receipt etc.
2 different sets Supplier Invoice e.g. Purchase Order, Order Receipt etc.
1 set Transportation Document e.g. Bills of Lading, Airway Bills etc.
Retail
2 different sets Supplier Invoice e.g. Purchase Order, Order Receipt etc.
1 set Tenancy Agreement
1 set Transportation Document e.g. Bills of Lading, Airway Bills etc.
Food & Beverage
1 set Tenancy Agreement
1 set Food License, Application for Food License
Business Services
2 different sets Service Contract e.g. Contracts with Your Customers etc.
Start-ups
1 set Business Plan
1 for each founder or UBO CV of All Founders and Ultimate Beneficiary Owner (UBO)
Others
1 set Annual Sales Turnover e.g. Bank Statement, Financial Statement etc.
1 set Trade Flow document e.g. Bills of Lading, Invoice etc.
1 set Operation Location proof e.g. Tenancy Agreement, Proof of Ownership etc.
1 set Company Structure e.g. PRC Company License, Org Chart etc.
Others (If relevant) e.g. Salary Proof, Insurance etc. -
If Primary Business Address is different from your Registered Address
1 Bank Statement or Utility Bill or Tenancy Agreement for your Primary Business Address
02 Start your DBS Online Account Opening for Business
Step 1: Start by clicking ‘Apply now’. Complete the application form and submit supporting documents online.
Step 2: Review your application before submission
Step 3: After submission, you can log in to our online business banking platform to track the status of your application
Step 4: DBS will contact you in 2 business days through a call or email
03 Verify your identity online
Use your mobile phone to authenticate your identity.
How Bestar can Help Open Bank Account Online
Bestar helps with opening a bank account online. We can assist you in the initial stages of setting up your business in Hong Kong, which is a crucial step before opening a bank account.
Here's how Bestar can help:
Company Formation:
We can help you incorporate your company in Hong Kong, ensuring compliance with all legal requirements.
This includes choosing a company name, drafting company documents, and registering with the Hong Kong Companies Registry.
Registered Address:
Bestar can provide you with a registered address in Hong Kong, which is a mandatory requirement for opening a bank account.
Company Secretary Services:
We can appoint a local company secretary, another essential requirement for company registration and bank account opening.
Business Consulting:
Bestar can offer valuable advice on the best banking options for your business, including recommendations for banks that are more open to online account opening for foreign businesses.
Bank Account Opening:
Bestar can help you with the entire process of bank account opening, including online applications.
Once your company is registered, you can start the process of opening a bank account online. However, it's important to note that not all banks offer fully online account opening for foreign businesses. Some may require physical presence or additional documentation.
Here are some tips for opening a bank account in Hong Kong online:
Choose a bank: Research different banks in Hong Kong and select one that offers online account opening services and caters to your business needs.
Prepare necessary documents: Gather all the required documents, including your company's incorporation certificate, registered address proof, business plan, and identification documents of the directors and shareholders.
Complete the online application: Fill out the online application form accurately and submit all the required documents.
Video verification: You may need to undergo video verification to confirm your identity.
Wait for approval: The bank will review your application and notify you of the decision.
Additional Tips:
Be patient: The online account opening process may take some time, so be patient and follow up with the bank if needed.
Stay updated: Keep yourself updated on the latest regulations and requirements for opening a bank account in Hong Kong.
By following these steps and seeking assistance from Bestar, you can successfully open a bank account online for your Hong Kong company.
If you would like to know more, please contact Bestar.
Comentários