Open A Bank Account in Hong Kong
Hong Kong offers a wide selection of local and international banks. You should not have problems opening a bank account here whether you are a resident or not. And while, in general, banking system is fairly modern, note that people in Hong Kong often rely on checks to transfer their money.
Hong Kong tax system is fairly easy to understand and maneuver as well. With a maximum tax rate of 17%, you may find yourself not dreading the tax bill so much.
The specific criteria you have to fulfill when opening a bank account in Hong Kong as a non-resident vary from bank to bank. In general, however, it is much easier to do so in Hong Kong rather than in Europe or the US. The procedure takes up to two weeks and your application is highly unlikely to be denied.
How to Choose Your Bank in Hong Kong
With 200 banks from about 30 different countries, Hong Kong offers a wide variety of options for anyone. The branches, especially around the more international areas like Central or Causeway Bay, usually have English-speaking staff that can guide you through the process of obtaining an account.
Top Hong Kong Banks
• HSBC
• DBS Bank
• Citibank
• Standard Chartered
• Hang Seng Bank
• Bank of East Asia
• Bank of China
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