Opening a corporate account is the hardest part of setting up in Hong Kong, especially without a local director or customers.
HSBC, Standard Chartered and Bank of China (Hong Kong) are the main corporate banks; expect two to eight weeks and an in-person meeting. Virtual banks and payment platforms are faster but offer fewer services.
Indicative; requirements change often.
| Provider | Type | Onboarding | Good for |
|---|---|---|---|
| HSBC | Bank | In person; weeks | Trading companies with HK activity |
| Standard Chartered | Bank | In person; weeks | International trade and FX |
| Bank of China (HK) | Bank | In person | Mainland China-facing business |
| ZA Bank / Airstar | Virtual bank | Online; days | Local small businesses |
| Airwallex / Statrys | Payment platform | Online; days | Multi-currency payments, not deposits |
Bring originals of corporate documents, a short business plan, and contracts or invoices with real counterparties. Expect questions on every shareholder.
ZA Bank, Airstar and other virtual banks are licensed by the HKMA and onboard online, but tend to suit companies with Hong Kong operations.
Airwallex and Statrys give multi-currency accounts quickly. They are not banks and are not covered by deposit protection.
Apply with a story the bank can believe: who your customers are, why Hong Kong, and where the money comes from. Missing that story is the main reason accounts are refused.
Virtual banks and payment platforms often can; traditional banks usually need a director to visit.
Yes. It is pegged to the US dollar within a narrow band.
Deposits at licensed banks are covered by the Deposit Protection Scheme up to HK$800,000 per depositor per bank.
