Opening a bank account in Hong Kong

Why it is beneficial to open a bank account in Hong Kong

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Access to an international financial center

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Hong Kong banks support multi-currency accounts, SWIFT payments, and offer convenient solutions for international business.

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Ease of operations

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Remote online banking, integration with accounting systems, and automated payment management.

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Opportunity to work with Asian markets

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Hong Kong is one of the main hubs for trade with China and other Asian countries.

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What challenges we have faced in practice

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Strict banking requirements

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Banks require confirmation of the company’s economic connection with Hong Kong (office lease, contracts with local partners, employees, etc.).

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High requirements for beneficiaries

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If the company’s owners include CIS citizens, the process may be delayed, and some banks may refuse to open an account.

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Requirement of personal presence

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Many banks require that the company’s director or beneficiary visit Hong Kong to submit documents and undergo an interview with a bank manager.

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Hidden fees

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Some banks require deposits for account opening or charge high fees for international transfers.

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“In practice, each bank applies its own compliance criteria. In Hong Kong, banks pay particular attention to the company’s real business activity, source of funds, and transparency of corporate structure. In our practice, we have seen cases where even companies with an excellent reputation had to provide a detailed business plan, contracts with partners, and even proof of office presence in order to pass banking compliance successfully.” Artur Faniev Сommercial director

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Process of opening a bank account in Hong Kong

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Choosing a bank or payment institution 

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Based on your needs, we prepare a list of banks or alternatives that are realistically ready to open an account for your company or for you personally. We explain the differences in requirements, fees, and timelines.

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Preparing the required documents 

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We help collect all required documents and ensure they meet the bank’s standards.

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Standard package includes:

• Passport of the founder and director
• Proof of residential address of the founder and director (preferably outside Russia)
• Bank statement of the founder for the last 6 months
• Proof of income (tax declaration, employment contract, etc.)
• Corporate documents – Memorandum and Articles of Association, Certificate of Incorporation, etc.
• Translations and apostille – mandatory for some jurisdictions

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Additionally, the bank may request contracts with partners, a business plan, and information about beneficiaries.

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Submitting the application

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In some cases, remote filing is possible, but most often personal presence of the director is required.

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Undergoing internal bank checks

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These are mostly AML and KYC checks: the bank verifies company documents and business owners. Additional recommendations, proof of income, or detailed information about sources of funds may be required.

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Opening the account

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You receive account details (IBAN, SWIFT), access to online banking, and if necessary – corporate cards.

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Funding the account

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At this stage, you must make the initial deposit (if required by the bank). The amount depends on the type of account and the bank.

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How to increase your chances of opening an account

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• Prepare a company presentation with a clear description of the business model.
• Prepare CVs of the founder and director proving their experience and professional reputation.
• Provide a detailed business plan with financial forecasts, turnover estimates, and a list of clients and suppliers.
• Provide evidence of real business activity: contracts, invoices, partner agreements, etc.

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Alternative to a bank account – payment institutions (EMI)

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If opening a traditional bank account is difficult, electronic money institutions (EMIs) can be an alternative. They allow remote account opening and international transactions without strict banking requirements.

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Advantages:

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• Remote account opening – no need for personal presence
• Flexible conditions – no strict requirements on deposits or turnover
• Ability to issue corporate cards
• Convenient financial management

Advantages of opening an account with Futura Law

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1. Real access to Hong Kong banks We know the exact requirements of each bank and only suggest those where the client has real chances. This helps avoid refusals and long waiting times.
2. Risk mitigation during compliance checks We analyze your case in advance, prepare documents and arguments to minimize risks and increase the likelihood of a positive outcome.
3. Full support in account opening From the first consultation and preparation for the interview to negotiations with the bank and obtaining account details — we guide the client at every step. You don’t need to deal with local rules and bureaucracy.
4. A team with strong expertise in Asia We have a permanent presence in Hong Kong – with an office and local staff, which allows us to consider regional specifics and effectively support projects in English and Chinese without barriers and with precision at every stage.