THE STARTING POINT
Prepare a file that lets the bank understand who owns the company, what it does and how money will move. Consistent explanations and supporting documents are more useful than a large, unorganised upload.
Begin with the bank’s own requirements
Request the institution’s current checklist for your company type and activity. The HKMA’s public guidance identifies corporate documents, ownership and control information, intended account use and authorised representatives as common areas of enquiry. It also makes clear that banks can request additional information based on the circumstances and risk assessment.
Use the preparation framework below to organise your work. It is not a substitute for the requirements of the institution receiving your application.
Write a one-page business explanation
Explain what the company sells, to whom, where the work is performed and how customers pay. Use language that a reader unfamiliar with your industry can understand. “Consulting” or “international trade” is usually too broad to tell the story clearly.
For example: “We provide monthly software support to business customers in France and Singapore. Two owners manage delivery from the countries listed in the application. Customers pay invoices in EUR or SGD.” This is an illustrative format, not a description to copy if it does not match your activity.
Organise the supporting file
| Folder | Preparation task |
|---|---|
| Company | Gather current formation and company records requested by the bank. |
| Ownership | Draw a readable ownership chart and gather the requested identity evidence. |
| Activity | Select genuine contracts, invoices or other evidence that explains the business. |
| Payments | Summarise expected incoming and outgoing flows by currency and country. |
| Authority | Identify signatories and confirm the approvals required to open and operate the account. |
Give files clear names and keep a short index. Check that dates, entity names and ownership percentages agree across the application.
If the company has not started trading
Describe that position openly. Separate signed commitments from forecasts and label projections as projections. Ask the bank which evidence it accepts for a business at your stage. Do not invent invoices or dress up a plan as an established trading history.
A short explanation of the launch sequence can be useful: what must happen before the first sale, which agreements are already signed and when the account would be used.
Plan for operation after opening
- Who can create a payment and who must approve it?
- How will the accounting team obtain statements?
- Who updates the bank when ownership or activity changes?
- Which currencies and payment routes are actually available?
- What is the escalation route if a payment is delayed?
An approved account is the start of an operating relationship. Keep the same clarity after onboarding that you used in the original application. Never assume that a bank account is guaranteed as part of company formation.
Official sources
Sources checked on 21 September 2026. This guide is educational; ask a qualified adviser to assess the rules that apply to your circumstances.
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