Bank Account Opening

Establishing a bank account is a fundamental step in launching and managing a successful business.

Choosing to open a bank account in Hong Kong brings numerous benefits. It provides access to world-class banking services, multi-currency accounts for seamless foreign transactions, and alignment with your broader business objectives.

Furthermore, Hong Kong's robust banking infrastructure makes it an ideal location to strengthen your business's financial foundation.

How does it work?

Without the right guidance, opening a bank account in Hong Kong can be a lengthy process, taking months from application submission to having a fully operational account.

Based on your business needs, we can assist in opening a Traditional Bank Account with tier-1 banks or a Digital Bank account with our select Neobank partners.

A unique feature of Hong Kong's banking system is that banks do not require permanent residency to open a bank account.

What is Neobanking?

Virtual or neo banks in Hong Kong are banks operating without any physical branches.

They provide banking services such as deposits, payments, and transfers through secure online and mobile platforms. Launched as part of Hong Kong's initiative to promote fintech innovation, these banks offer a convenient, fast, and user-friendly alternative to conventional banking.

They offer retail services either by securing their license or partnering with other licensed banks, often featuring competitive fees, round-the-clock access, real-time transactions, and innovative financial solutions.

Traditional banking v/s Neo banking

Traditional Banking

  • Operates both physical and online branches

  • Higher, often hidden fees

  • Varying onboarding requirements, which can be time-consuming

  • Minimum balance limit varies per bank

Neo banking

  • Fully online operations with no physical branches

  • Lower, more transparent fees

  • Fast and efficient account opening

  • No minimum balance requirement

The Asia SGE Advantage

We can assist you in selecting the right banking partner, considering factors such as the level of banking support the business requires, fees, initial deposit requirements and the minimum required balance.

Depending on the type of bank account you choose, the required documents will vary. Different banks may request additional documents to meet their compliance standards.

Having assisted clients in opening bank accounts in Hong Kong, we understand how to get your company started on the right footing.

Why choose this service?

  1. Expert Guidance: Given our experience, our team is well versed with opening a bank account in both traditional and neobanking options.

  2. Time-Saving: We simplify the process, saving you valuable time and effort.

  3. Customized Solutions: We tailor our services to meet your specific business needs.

  4. Compliance Assistance: We ensure all your banking operations align with local regulatory requirements.

  5. Smooth Transition: Whether you're a startup or an established business, we ensure a seamless transition for your banking needs.

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