06 Benefits of Setting up a Company in Hong Kong
Setting up a business in Hong Kong yields many advantages such as pro-business environment, attractive tax regime, strategic location and much more.
The successful development of Hong Kong economy is largely driven by its banking sector. Hong Kong maintains a three-tier of deposit-taking institution, namely restricted license banks, licensed banks, the deposit-taking companies collectively known as authorized institutions supervised by Hong Kong Monetary Authority (HKMA).
As one of the world's financial centres, Hong Kong has the highest concentration of banks in the world. As of June 2019, there are 194 authorized banking institutions and 45 local representatives of international banks in Hong Kong.
HKMA embraces the development of technology advancements in the operation of banking i.e. mobile payments, Blockchain, Open API, Artificial Intelligence… to implement its initiative of Smart Banking. All of banks in Hong Kong has undergone some degree of digital transformation as part of their client-centric strategies.
Hong Kong banking sector provides an extensive range of services and is one of the most efficient and robust systems in the world. You can open your company bank account in just 2-3 weeks there. There is also no foreign exchange control in Hong Kong, so you can easily move your money in and out the country without any restrictions.
A Hong Kong company can open its bank account in any places in the world. Our bank introducer services can help you better prepare for due diligence process before applying for your bank account opening. In addition, most banks in Hong Kong require physical presentation of account signatories.
|Country||Bank||Online Banking||Personal Visit||Credit Card||Debit Card||Intial Deposit|
|Belize||Caye International Bank Ltd.||USD 1,000|
|Heritage Bank||USD 3,000|
|British Virgin Island||First Caribbean International Bank||USD 25,000|
|Hong Kong||Bank of East Asia||Contact us for details|
|Fubon Bank||Contact us for details|
|Hang Seng Bank||HKD 10,000|
|OCBC Wing Hang||HKD 25,000|
|Standard Charter Bank||Contact us for details|
|Mauritius||ABC Banking Corporation||USD 5,000|
|Bank One Limited||USD 10,000|
|Mauritius Commercial Bank||USD 50,000|
|Investec Bank||USD 50,000|
|Puerto Rico||Euro Pacific Bank||USD 500|
|Singapore||Citi Bank||USD 300,000|
|OCBC Bank||USD 30,000|
|Switzerland||CIM Banque||USD 20,000|
|UAE||RAK Bank||USD 10,000|
Opening bank accounts in Hong Kong is relatively easy if you prepare documents in the right way. Moreover, most banks in Hong Kong don’t prefer offshore companies to open account with them. The basic documents requested by most banks are presented below:
Each bank has different requirements, so you should contact us to know what banks fit you well.