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Tax Engineering

Bank account in Hong Kong

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Open a tax-free offshore bank account in Hong Kong, one of the best financial centers in the world.

Reference: CB33977HK


Open an offshore bank account in Hong Kong

The Hong Kong Shanghai Bank Corporation (HSBC) was founded in Hong Kong and now it is one of the banks that offers the best and the most solvent financial services in the world. We all know that opening an offshore bank account in Hong Kong is not easy.The Compliance department policy takes its time to investigate profoundly the nature of the business, the nationality of the interested party and the risk that this account might bring to the entity. One of the requirements when opening an account in Hong Kong is to be presented to the bank by a resident agent or a law firm. In case the customer wants to go through this process on his own he has to be prepared that his account can be rejected and the money spent on the trip lost. Opening a bank account for a non-resident in Hong Kong will grant you tax-exempt status, which means that you wont have to pay tax on all the funds kept in this country. Moreover Hong Kong offers sophisticated technology systems for banking sector offering wide range of online banking services and high level of security. Therefore the E-Commerce companies from all over the world choose this jurisdiction to develop their business activities benefitting from multi-currency bank accounts, fixed datasets, payment gateways and possibility of opening an account with PayPal.

Banking secrecy and automatic exchange of financial account information 

By now Hong Kong has not signed any bilateral agreements of automatic exchange of financial account information. Therefore the bank secrecy for individuals and companies that hold non-resident bank accounts in Hong Kong is safe. What does automatic exchange of financial account information mean? On 29th of October 2014, in Berlin an agreement was signed with the purpose to exchange automatically information on bank accounts opened by non-residents in other countries. By now the automatic exchange of information agreement has been signed by more than 100 countries (the countries that have signed information exchange agreement), however it doesn´t mean that the bank account information will be exchanged between all of them. That is, if two countries do not show a mutual interest in sharing banking information of their citizens between them and therefore do not sign a bilateral agreement, the OECD cannot force them to proceed with the joint exchange of information. For example, Hong Kong has signed the automatic exchange of information agreement but it did not sign any bilateral agreement. Therefore, it will not exchange financial account information with all other participants. You can see the updated information following this link (bilateral automatic information agreements).

As long as Hong Kong doesn’t sign any bilateral agreement its banking confidentiality will not be affected and the client´s financial information won’t be reported to the tax authorities of his resident country. The new regulations for the exchange of information have created many problems for and between some of the countries. The intention of European Commonwealth countries such as Germany, Spain, France, Italy and the United Kingdom was that all countries signed bilateral agreements with each other, but after all things did not go that way. In a real world it is hard to imagine Israel signing a bilateral agreement for the automatic exchange of financial information with Lebanon, Saudi Arabia, Indonesia or the Arab Emirates. Due to the "non-fiscal conflicts" that exist between these countries it makes it very difficult or even impossible for them to work together on elimination of banking secrecy.

Bilateral agreements with Hong Kong

Year 2017No bilateral agreement has been signed in 2017.
Year 2018No bilateral agreement has been signed in 2018.

It is completely legal to open an offshore bank account in Hong Kong. An individual or a company that wants to develop an international business or simply to move its money offshore in order to achieve more security will not be committing any crime. If a physical person is a citizen of a country that mutually has signed a bilateral agreement with another country, it is advisable for him/her to inform his/her tax authorities about the intentions to open a non-resident account offshore, and then through double taxation agreements deduct the income taxes in his country of residence. If, on the other hand, the bank account has been opened by a resident company or non-resident company the beneficial owner will not be obliged to repatriate the dividends of the company annually and therefore will be able to keep all the generated earnings on his offshore bank account in Hong Kong without paying income taxes. The owner of the company will have to pay the income taxes only when he transfers the money to his country of residence but in case if he wants to keep it on the account for further business investments or just as a security deposit legally the generated profits will still belong to the company and the beneficial owner doesn’t have to pay tax on this amounts. With time the company might go through the international expansion requiring corresponding expenses. Consequently, the dividends would decrease and logically the income taxes that the beneficial owner will have to pay in his country of residence would decrease correlatively.

Advantages of opening a bank account in Hong Kong

The main advantages of opening a bank account in Hong Kong are the following:

  • Opening an offshore bank account Hong Kong is legal.
  • Law guarantees bank secrecy and anonymity.
  • The possibility to open business and personal offshore bank account in Hong Kong remotely.
  • High expertise level, online banking platforms with the possibility to request any type of financial service: foreign currency accounts, credit cards, letters of credit, accounts to invest in the stock market, payment gateways, credits.
  • Professional financial advises for great fortune owners.
  • Low maintenance rates. 
  • Banks in Hong Kong are extremely regulated. 
  • Once the requirements are fulfilled it takes 15 days to open the account.

Bank commissions in Hong Kong

Approximate bank commissions and minimum deposit
Maintenance of bank account
220 Euros/year
Wire Transfer IBAN/SEPA
50 Euros
Wire Transfer SWIFT
50 Euros
Debit or Credit card
80 Euros/card
Customer support in following languages
English, Chinese
Minimum deposit
1.500 Euros

*The customer can open a bank account in any international legal currency they want, (Euro, Dollar, Canadian Dollar, Australian Dollar, British Pound, Japanese Yen, Swiss Franc etc)

*All the management at the opening of bank account do not need a physical presence in the country, all efforts will be made through e-mail and / or registered mail.

    in Hong Kong
    with or without physical presence
    with online banking 24/7 included
    in the name of the individual or company
    in English
    to any part of the world
    certified by a notary
    certified by a notary
    electricity, water, gas, telephone or bank statement
    in English
    Articles of incorporation of the company, memorandum of association, register of directors, registered shares certificates and for companies registered more than one calendar 1 year ago "Certificate of good standing"
Dylan Chave

I already have a company registered in Hong Kong. However, I only have a Currenxie "bank" account, it's very basic as I have no debit card, can only receive money from verified payees and then withdrawal this money to a person's account overseas. This isn't at all ideal. I'd much rather have a multi currency bank for my company which I can receive and send payments to anyone in and of course to hold large sums of money safely. Due to the current situation, flying to Hong Kong is impossible. Are you able to help with this all online for me?


Dear Dylan, 

Thank you for getting in touch with our company. As you might know in order to open a bank account in Hong Kong in one of the banks that offers multi currency bank accounts with possibility to receive and transfer funds to any other account the physical presence of the client is obligatory

Depending on the country where you are now, your authorities with provide you with the information regarding the possibility to travel overseas. 

We know that in Hong Kong now all the financial institutions work with the usual schedule and once you will be able to leave your country there won't be any problem to enter Hong Kong. 

Please don't hesitate to contact us in case you have any other question.


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