Description
Please note that a face-to-face meeting with HSBC bank in Hong Kong is required in all instances.
About the bank
The Hong Kong and Shanghai Banking Corporation Limited was established in 1865 in Hong Kong and Shanghai to finance the growing trade between China and Europe.
The HSBC Group is one of the world’s largest banking and financial services organizations with around 8,000 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa.
HSBC HK Commercial banking provides a range of full-service packages inculding cash management, commercial mortgages , Insurance, Loans and Finance, Investment, Payments, Cash manager, Cards, Foreign Exchange, Import and Export support.
Tax treaties
Hong Kong has signed Double Taxation Relief Agreements with the following countries: Austria, Belgium, Brunei, Canada, Czech, France, Guernsey, Hungary, Indonesia, Ireland, Italy, Japan, Jersey, Kuwait, Liechtenstein, Luxembourg, Mainland of China, Malaysia, Malta, Mexico, Netherlands, New Zealand, Portugal, Qatar, Spain, Switzerland, Thailand, United Kingdom, and Vietnam
Required Corporate Documents
Company documents are required to be certified by a Hong Kong Certified Public Accountant.
A business plan must be submitted with the account application.
Required Personal Documents
HSBC Hong Kong requires the following personal documents from each director, beneficial owner and authorized signatory:
- Original valid passport
- Proof of residential address in the form of an original, recent utility bill or bank statement containing the individual’s name and residential address)
Personal visit
At least one director and account authorized signatory is required to visit HK.
Initial deposit
There is a minimum deposit of HKD50,000 (US $1,250required for the establishment of a current account
Minimum Balance
The Minimum Balance requirement depends on the type of account held, as follows:
Business Direct Account
- HKD50,000 or above / month – monthly fee waived
- Below HKD50,000 / month – HKD100 monthly fee applied
Business Vantage Account
- HKD500,000 / month – monthly fee waived
- HKD100,000 to below HHKD500,000 / month – HKD100 monthly fee applied
- Below HKD100,000 / month – HKD300 monthly fee applied
Online banking
The bank offers online banking with the following features:
- 24/7 access to account balances and account transactions
- The ability to make transfer and payments online
- On Line Investment Management
- On Line Insurance
Debit cards & credit cards
HSBC Hong Kong have the following cards available:
- ATM card (Debit card) is available
- VISA Credit card is available
Additional Banking Information
HSBC Hong Kong offers the following additional banking services
- Trade Finance
- Overdraft Facilities
- Receivables Financing
Time required for account opening
Once all required documents have been received by the bank and the application approved, the account can be opened in one working day.
The exact time may be change if extra documents or approval are required by the Bank Compliance department.
Currencies
The bank opens accounts in the following currencies:
Hong Kong dollar (HKD), Renminbi (RMB), US dollar (USD), Euro (EUR), Pound sterling (GBP), Australian dollar (AUD), New Zealand dollar (NZD), Japanese yen (JPY), Canadian dollar (CAD), Singapore dollar (SGD), Swiss franc (CHF) and Thai baht (THB)
Bank fees
Outward payment (by internet banking)
HSBC HK to HSBC HK bank account – no service charge
HSBC HK to other bank account in HK – HKD55 / transaction
HSBC HK to overseas bank account – HKD115 / transaction
Extra bank charges may be charged by local banks
Inward payment
From HSBC HK to HSBC HK bank account – no service charge
From other HK bank account to HSBC HK bank account – HKD15 / transaction
From overseas bank account to HSBC HK bank account – HKD65 / transaction
Extra bank charges may be charged by local banks
