{"id":2312,"date":"2022-09-24T07:58:49","date_gmt":"2022-09-24T07:58:49","guid":{"rendered":"https:\/\/www.fungyuco.com\/fr\/?page_id=2312"},"modified":"2022-09-26T01:19:01","modified_gmt":"2022-09-26T01:19:01","slug":"open-corporate-bank-account-in-hk","status":"publish","type":"page","link":"http:\/\/www.fungyuco.com\/fr\/learning-hub\/open-corporate-bank-account-in-hk\/","title":{"rendered":"How to Open a Corporate Bank Account in Hong Kong"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” 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column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”5\/12″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” right_padding_tablet=”10%” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ background_image=”2315″ background_image_position=”center center” background_image_loading=”default” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” parallax_bg=”true” parallax_bg_speed=”very_subtle” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”46vw” custom_height_tablet=”70vh” custom_height_phone=”40vh”][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” translate_y=”-50%” text_align=”left” min_width_desktop=”20vw” min_width_tablet=”30vw” min_width_phone=”30vw” row_position=”absolute” row_position_tablet=”inherit” row_position_phone=”inherit” top_position_desktop=”50%” right_position_desktop=”-10%” right_position_tablet=”0%” right_position_phone=”0%” class=”fungyu-window” zindex=”50″ overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ background_image=”650″ background_image_position=”center center” background_image_loading=”default” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”parallax” animation_movement_type=”default” column_parallax_intensity=”2.25″ persist_movement_on_mobile=”true” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_color=”#fb656c” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”30vw” custom_height_tablet=”40vh” custom_height_phone=”35vh”][\/vc_column_inner][\/vc_row_inner][\/vc_column][vc_column column_padding=”padding-10-percent” column_padding_tablet=”no-extra-padding” column_padding_phone=”no-extra-padding” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ font_color=”#ffffff” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”7\/12″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”0″ custom_height_tablet=”30px” custom_height_phone=”30px”][vc_column_text]Accounting is often overlooked when setting up a company in Hong Kong, despite its indispensability. At Fung, Yu & Co, our job is to make accounting simple, understandable, and practical for all our clients, especially those entering Chinese markets for the first time. We can provide you with comprehensive accounting, bookkeeping, and financial reporting services, so your company has access to the accurate and up-to-date financial data you need in avoid unnecessary risks and costly failed investments. One of our most valuable services is guiding you through the complicated process of organising a corporate bank account. It is crucial to have a corporate account with a Hong Kong bank at least, so you can conduct business in HK \u2014but there is no guarantee that you can get one on your own. While other personal and business accounts are easier to open, the corporate account process requires a savvy local partner to help you navigate it. Fung, Yu & Co. stands ready to be that partner for you.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\r\n\r\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”full_width_content” full_screen_row_position=”middle” column_margin=”default” equal_height=”yes” content_placement=”middle” column_direction=”default” column_direction_tablet=”column_reverse” column_direction_phone=”column_reverse” scene_position=”center” top_padding=”100″ constrain_group_1=”yes” bottom_padding=”100″ top_padding_tablet=”30″ constrain_group_3=”yes” bottom_padding_tablet=”30″ left_padding_tablet=”8%” constrain_group_4=”yes” right_padding_tablet=”8%” top_padding_phone=”30″ constrain_group_5=”yes” bottom_padding_phone=”30″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” advanced_gradient_angle=”0″ overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”padding-8-percent” column_padding_tablet=”no-extra-padding” column_padding_phone=”no-extra-padding” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”0″ custom_height_tablet=”30px” custom_height_phone=”30px”][split_line_heading animation_type=”line-reveal-by-space” font_style=”h6″ text_color=”#fb656c” line_reveal_by_space_text_effect=”default” content_alignment=”default” mobile_content_alignment=”inherit” link_target=”_self” text_content=”Opening a corporate bank account in Hong Kong”][\/split_line_heading][vc_column_text css_animation=”bottom-to-top”]Overall, the banking system in Hong Kong is characterised by excellence. That said, most banks are very cautious about opening a corporate bank account<\/a> for a foreign-owned corporation. It can take 1-4 months to establish the corporate account you need so that your company can start using it to trade in Hong Kong and the mainland. At one time, getting a corporate bank account in Hong Kong was quite easy, with completion occurring within just a few days, and could often be done from branches in other countries. However, after several major Hong Kong banks ran afoul of foreign regulators, this easy access came to an end. Although China’s increasing liberalisation has eased the process somewhat recently, foreigners still face significant restrictions when attempting to open a new corporate account in Hong Kong. Banks in the SAR typically demand a great deal of paperwork, and after a long wait, may still refuse to open an account for you. Regretfully, in the past, the sheer difficulty of starting a corporate banking account in Hong Kong has driven foreign investors away. In part, this difficulty arises from the fact that many of the Chinese banks in Hong Kong are still government-owned, and by international standards, are neither efficient nor transparent. However, it has become clear that the Chinese economy will inevitably eclipse all other Asian economies and many Western economies\u2014as long as any difficulties hindering its continued growth are cleared away. This has encouraged the government to simplify the process of by which corporations in both HK and China go about getting their official accounts with banks. This has not happened overnight, but little by little, banks have been streamlining their corporate account processes. The entry of international financial organisations like DBS bank and Citibank into the Hong Kong and mainland markets have also encouraged greater efficiency. Competitive market forces have also been chipping away at the existing corporate account restrictions.[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”0px” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” left_padding_desktop=”20%” left_padding_tablet=”10%” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ background_image=”2314″ background_image_position=”center center” enable_bg_scale=”true” background_image_loading=”default” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” parallax_bg=”true” parallax_bg_speed=”very_subtle” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”90vh” custom_height_tablet=”70vh” custom_height_phone=”60vh”][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” translate_y=”-50%” translate_x=”30%” text_align=”left” min_width_desktop=”20vw” min_width_tablet=”30vw” min_width_phone=”30vw” row_position=”absolute” row_position_tablet=”inherit” row_position_phone=”inherit” top_position_desktop=”50%” left_position_desktop=”0″ left_position_tablet=”-10%” left_position_phone=”-10%” class=”fungyu-window” zindex=”50″ overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ background_image=”650″ background_image_position=”left center” background_image_loading=”default” column_shadow=”none” column_border_radius=”none” column_link_target=”_self” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” animation_type=”parallax” animation_movement_type=”default” column_parallax_intensity=”2.25″ persist_movement_on_mobile=”true” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_color=”#fb656c” column_border_style=”solid” gradient_type=”default”][divider line_type=”No Line” custom_height=”50vh” custom_height_tablet=”40vh” custom_height_phone=”35vh”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n\r\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#f7f5f3″ scene_position=”center” top_padding=”100″ constrain_group_1=”yes” bottom_padding=”100″ top_padding_tablet=”30″ constrain_group_3=”yes” bottom_padding_tablet=”30″ top_padding_phone=”30″ constrain_group_5=”yes” bottom_padding_phone=”30″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overflow=”visible” advanced_gradient_angle=”0″ overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” gradient_type=”default” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” column_position=”default” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left” row_position=”default” row_position_tablet=”inherit” row_position_phone=”inherit” overflow=”visible” pointer_events=”all”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column_inner][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/3″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][split_line_heading animation_type=”line-reveal-by-space” font_style=”h6″ text_color=”#fb656c” line_reveal_by_space_text_effect=”default” content_alignment=”default” mobile_content_alignment=”inherit” link_target=”_self” text_content=”Documents needed when requesting a corporate bank account”][\/split_line_heading][vc_column_text css_animation=”bottom-to-top”]Most Chinese banks require numerous documents, prepared to rigorous specifications, before they will grant an offshore company a corporate banking account. When you partner with Fung, Yu, & Co, we will aid you by ensuring all necessary documents are present and meet all specifications. These documents may include some or all of the following, as well as additional forms in some cases:[\/vc_column_text][vc_column_text css_animation=”bottom-to-top”]\n