Introduction: Your options

If you’re reading this article then perhaps you already know that in recent years, opening a business bank account in Hong Kong for your company has become complicated.

The time has passed when you could just show up at any branch and open a business bank account in one day.

But all is not lost. These days there are three ways for handling payments for your company in Hong Kong:

• Open a “traditional” bank account in Hong Kong (this as I already mentioned has become complicated, as I will explain in detail later in this article);

• Open an off-shore bank account: this could be simpler but is more expensive, and would also make it very hard to accept payments through Paypal or credit cards via Stripe or Braintree (the companies used by the majority);

• Open an “alternative” account with Neat, one of the first startups to offer business bank accounts in Hong Kong that can be opened for free, giving you access to international payments, allows you to accept payments through Paypal or credit cards, and even gives you the right to a prepaid MasterCard.

In this article I will describe these three options. I’ll start with Neat, since it’s the simplest. [Read more…]

This article is a step-by-step guide on opening a company in Hong Kong.

I’m a foreigner (i.e. I’m not a Hong Kong citizen or even a Hong Kong resident) that founded a company here in 2013 (and still manage it, as I am the sole Director).

I also co-founded a second Hong Kong company in 2017 (although I’m not the Director).

Thus, all the information that you’ll find on this page comes from personal experience (and is up to date).

Here what you’ll learn on this page (you can click on any link to jump directly to the section that interests you the most):

As you probably already know if you are reading this article, getting a business credit card from an Hong Kong bank may be difficult.

If you couldn’t find a way to get one, but your business still need a card in order to paid bills online or withdrawal cash at ATMs worldwide, then you can now get a prepaid card through an agency.

The agency fee is 5,000 HKD and here what you will get:

• A prepaid card (Visa or MasterCard) that is reloadable and accepted world-wide for online purchase, cash withdrawal at ATMs, Points-of-Sales Terminals in over 210 countries;

• Manage and monitor the account status and balance anywhere via ATM machine, internet, or smartphone application;

• Maximum daily loading limit: 20,000 USD;

• Type of card: Visa or MasterCard;

• The card can be anonymous or with your name, and it’s not linked to a bank account (you can reload by sending money to the account connected to the card);

• Monthly fee: 5 USD (more an initial one time fee of 15-20 USD for the card application and delivery).

Click here to send an inquiry to the agency we recommend for getting a prepaid card

[Read more…]