How to open a business account with Bank of China in Hong Kong?

Are you running a business in Hong Kong? Then you already know how important it is to have reliable options to manage your company’s finances! Among all the choices available, Bank of China (Hong Kong), BOCHK, is a bank you shouldn’t overlook. Having been around the market for more than 20 years, BOCHK has become a trusted partner for both small businesses and large corporations with its diversity products. Even better – you can now open a BOCHK business account entirely online.

Like many leading banks in Hong Kong, BOCHK has quite a challenging application process: you will need to submit multiple documents! But don’t worry! This article will guide you through everything you need to know, from the services they offer and the fees involved, to the step-by-step process of opening a business account with BOCHK.

That said, while having a local bank account is convenient, the application process and ongoing maintenance costs might make you want to give up – especially if you frequently send money outside of Hong Kong. So, you should also consider adding some smart and more cost-effective business accounts, such as Wise. More on that later on!

Table of contents

Features of Bank of China (Hong Kong) business account Who can open a BOCHK business account? What documents do I need to open a BOCHK business account? How to open a Bank of China business account in Hong Kong? Unmasking Bank of China (HK) Business Account Fees: What You Need to Know 3 Account Maintenance & Minimum Balance Fees Local Transaction Fees International Transfer Fees Other Potential Fees Common Pitfalls and How to Avoid Them When Applying for a BOCHK Business Account Documentation Errors and Incompleteness Lack of Business Substance or Unclear Business Plan Lengthy Processing Times and Managing Expectations Frequently Asked Questions (FAQs) Can a foreigner open a Bank of China business account in Hong Kong? What is the minimum deposit or balance required for a BOCHK business account? How long does it take to open a Bank of China business account in HK? Can I open a Bank of China business account online? Beyond Account Opening: How Wise Complements Your Bank of China (HK) Business Account Simplified International Money Management Transparent and Cost-Effective Cross-Border Payments Multi-Currency Account Efficient Mass Payouts and Integrations

Features of Bank of China (Hong Kong) business account

BOCHK’s business account, known as the Business Integrated Account, is designed to cater to different stages of growth, offering three levels: Standard, Plus, and Elite. For startups and smaller businesses, there’s also the BOCHK Business Lite Account – This one account is said to be more flexible and less challenging to apply for!

Here are some of the key features that make BOCHK business accounts attractive:

• Comprehensive solutions for daily operations: Enjoy wide range of services including deposits, loans, credit cards, payroll, cross-border transactions, business insurance, and investment products
• Remote account opening: Apply and open your account online without the need to visit a branch in person.
• Strong cross-border connectivity: Benefit from BOCHK’s close ties with mainland China and its global network, which can support businesses with international operations.

Who can open a BOCHK business account?

In general, you can apply for a BOCHK business account remotely if your business meets the following criterias¹:

• Business structure: A Hong Kong-incorporated Sole Proprietorship, Partnership, Limited Company (including a Company Limited by Guarantee).
• Sales turnover: Meets the designated annual sales turnover requirements set by the bank.
• Ownership structure: Does not have any corporate directors or shareholders.
• Number of related parties: No more than 10 related parties, all of whom must be Hong Kong Identity Card holders.

Each type of business structure may be subject to specific requirements. Even if you qualify for remote account opening, BOCHK may still request additional documentation or require you to visit a physical branch to complete the process.

What documents do I need to open a BOCHK business account?

Required documents for a business account with BOCHK will vary based on the nature of your business and your business structure. Before submitting the documents, you will need to certify them as true copies of the original by any authorized entities. Here are the detailed checklist for each type company²:

Sole Proprietorship:

• Business Registration Certificate
• Identification document
• Residential address proof of all authorised signatories (government-issued documents showing your name and address, a utility bill, or financial institution statement issued within the last 3 months).
• Business proof (Invoice, Sales Contract, Trading Documents, Lease Agreement, Business Plan, Audit Report, Payroll Record, or other relevant documents showing your business activities).

Partnership:

• Valid Business Registration Certificate
• Partnership Agreement
• Identification document
• Residential address proof of all authorised signatories (government-issued documents showing your name and address, a utility bill, or financial institution statement issued within the last 3 months).
• Business proof (Invoice, Sales Contract, Trading Documents, Lease Agreement, Business Plan, Audit Report, Payroll Record, or other relevant documents showing your business activities).

Limited Company:

• Certificate of Incorporation
• Certificate of change of name (if applicable)
• Business Registration Certificate (if applicable)
• Up-to-date Memorandum and Articles of Association
• Certificate of Limited by Guarantee Company (only for Limited by Guarantee Company)
• Identity documents from at least 2 directors, Principal Shareholders (who have more than 10% of the voting rights), and all authorized signatories
• Proof of residential address for the above individuals (Government-issued documents showing your name and address, a utility bill, or financial institution statement issued within the last 3 months).
• Business proof (Invoice, Sales Contract, Trading Documents, Lease Agreement, Business Plan, Audit Report, Payroll Record, or other relevant documents showing your business activities).

Society:

• Company Registration Documents (Certificate of Registration, Application for Registration of a Society, Articles of association/Constitution/Rules or By-laws, and Current list of office bearers)
• Identification document of Chairman, Vice-chairman/Treasurer and all authorised signatories.

Owners Incorporation:

• Owners Incorporation Registration Documents
• Identification document of Chairman, Vice-chairman or Treasurer and all authorised signatories.

Mutual Aid Committee:

• Mutual Aid Committee Registration Documents (Approval Letter from Home Affairs Department, Rules and Regulations if applicable)
• Identification document of Chairman, Vice-chairman/Treasurer and all authorised signatories.

How to open a Bank of China business account in Hong Kong?

There are two ways to apply for a BOCHK business account: through an online pre-application or by booking an in-person appointment at a branch. If you prefer to open an account at the bank, you can visit one of the branches or make an appointment via phone call or website.

Follow these steps to open your BOCHK business account remotely¹:

1. Research all features of a BOCHK business account, plus make sure you have all the required documents.
2. Go to the BOCHK website to make an account. Fill in the online application and upload all the required documents. At this stage, if you are not eligible for an online application, BOCHK will ask you to make an appointment to come to the physical branch to open your account.
3. Download the iGTB MOBILE app and perform an online identity verification there.
4. Confirm the submitted information for account activation
5. Log into Corporate Internet Banking App to activate your new BOCHK Business account.

Unmasking Bank of China (HK) Business Account Fees: What You Need to Know ³

Another common pain point with business accounts is cost. Traditional banks incur significant expenses from infrastructure, systems, and regulatory compliance, which are often passed on to customers in the form of higher fees. To give you a clearer picture, let’s take a look at some of the typical costs associated with opening and maintaining a BOCHK business account:

Account Maintenance & Minimum Balance Fees

The most certain cost for a business account from BOCHK is the monthly fee. The bank will charge this fee to maintain your account, so sometimes you will see it under maintenance fees.

The good aspect of this fee is that the account maintenance fees sometimes will be free if you meet a certain threshold like:

Account Type	Business Integrated Account	Business Integrated Account - Plus	Business Integrated Account - Elite
Monthly fee	120 HKD	150 HKD	200 HKD
Fee waiver threshold	50,000 HKD	200,000 HKD	1,000,000 HKD
Reduced fee option	Not available	Not available	100 HKD (500,000 to 1,000,000 HKD)
Fee applied when balance	< 50,000 HKD	< 200,000 HKD	< 500,000 HKD

Local Transaction Fees

Bank of China business account holders benefit from competitive local transfer options designed to meet various business payment needs. The following table outlines the comprehensive fee structure for local transactions:

Transfer Method	Transaction Type	Channel	Amount Range	Fee
Express Transfer (RTGS/CHATS)	Outgoing transfers to other local banks	Branch	All amounts	HK$180 per item
		Electronic channels	All amounts (HKD/CNY)	HK$25 per item
		Electronic channels	All amounts (USD/EUR)	HK$55 per item
	Incoming transfers to BOCHK account	Any	≤ HK$500 equivalent	Waived
		Any	> HK$500 equivalent	HK$15 per item
Faster Payment System (FPS)	Outgoing HKD transfers	Electronic	≤ HK$100,000	HK$5 per item
		Electronic	HK$100,001 - HK$1,000,000	HK$10 per item
	Outgoing CNY transfers	Electronic	≤ CNY$100,000	CNY$4 per item
		Electronic	CNY$100,001 - CNY$1,000,000	CNY$8 per item
	Incoming FPS transfers	Any	All amounts	Waived

International Transfer Fees

Among all the charges, international transfer fees are often the biggest burden. As a business in a global hub like Hong Kong, chances are you’ll need to remit or receive money overseas at some point.

Outward Remittance Fees

Service Type	Channel	Fee
Standard Telegraphic Transfer	Branch	HK$260 per transaction
	Electronic channels	HK$120 per transaction
BOC Remittance Plus	Branch	HK$260 per transaction
	Electronic channels	HK$115 per transaction
Correspondent Bank Charges	USD transfers	HK$160 per transaction
	EUR transfers (€100+)	€25-€35 per transaction
	GBP transfers	GBP20 per transaction

Inward Remittance Fees

Service Type	Amount	Fee
Incoming Wire to BOCHK Account	≤HK$500 equivalent	Waived
	>HK$500 equivalent	HK$60 per transaction

With most traditional banks, you’ll not only face remit transfer fees, but there might also be sneaky hidden exchange rate markups from many banks – these extra costs can accumulate quickly and eat into your margins!

By contrast, institutions like Wise offer the real mid-market exchange rate with no hidden markup, making international transfers far more transparent and cost-efficient.

Let’s compare how Wise and BOCHK stack up when it comes to fees:

	BOCHK	Wise
Sending money	Telegraphic Transfer: 115 HKD - 260 HKD, depending on chosen channels to transfer money. Correspondent Bank Charges (if applicable): USD: 160 HKD EUR: 0 EUR - 35 EUR GBP: 20 GP JPY: at least 3,000 JPY THB: 600 THB All Others: at least 200 HKD	From 0.26%, depending on the currency The actual fees will be shown on the app
Receiving money	≤HK$500: Free >HK$500: HK$60	Domestic payments (non-SWIFT or non-wire): Free Wire and SWIFT: Depending on the currency

So let’s suppose you are transferring 10,000 HKD to USD, entirely online. Here how much you will get using BOCHK and Wise:

	BOCHK Business Account	Wise
Exchange rate (HKD/USD)	0.1273 USD	0.1278 USD
Fees	At least 115 HKD	37.89 HKD
Receiving Amount after fees	Around 1,258.36 USD	1,272.93 USD

Information last checked at HK Time: 2025/08/18 12:37:59

Wise is also very upfront about fee disclosure and transparency. So what you see on the app is what your recipients will receive – so you don’t need to worry about any hidden fees luring around your money

Other Potential Fees

Besides the major costs, your BOCHK business account may also incur additional fees such as:

• Company Search:Limited company – 150 HKD; Unlimited company – 100 HKD
• Application basic fee: from 1,200 HKD

Other additional charges may apply depending on the features and services you choose for your BOCHK business account.

Common Pitfalls and How to Avoid Them When Applying for a BOCHK Business Account

An application to BOCHK Business Account, despite its online convenience, may still take several weeks or even months. In order to avoid a lengthy application time, you should try to avoid these common pitfalls:

Documentation Errors and Incompleteness

Missing or incorrect documents can slow down your application. To keep things moving smoothly, be sure to go through BOCHK’s required document list carefully and double-check before you submit.

Lack of Business Substance or Unclear Business Plan

Traditional banks such as BOCHK exercise strict due diligence when reviewing a business for account opening or ongoing operations. So to avoid delays,you should present a clear and well-structured explanation of your business model and financial flows from the start. This way you can reduce the likelihood of additional requests and ensure the bank has everything it needs to process your application efficiently.

Lengthy Processing Times and Managing Expectations

The process for BOCHK to review your document will take some time. You can monitor your application status via the app or talk to your Relationship Manager.

Frequently Asked Questions (FAQs)

Can a foreigner open a Bank of China business account in Hong Kong?

Yes, you can still open a BOCHK business account in Hong Kong if you are a foreigner, or your business is not incorporated in Hong Kong. In this case, BOCHK will just ask you to submit additional documents. You can prefer the detailed list of materials for each country here.

What is the minimum deposit or balance required for a BOCHK business account?

BOCHK has a minimum deposit requirements for different account levels, but the service fees will be waived if you are able to maintain

• Business Integrated Account: at least 50,000 HKD
• Business Integrated Account Plus: at least 200,000 HKD
• Business Integrated Account Elite: at least 1 million HKD

How long does it take to open a Bank of China business account in HK?

Local sole proprietorships, partnerships, and single-layer limited companies may be approved within 3 business days.

The actual time will vary depending on the completeness of the documentation and the complexity of the business. In some cases, the process may even take up to several months.

To stay informed, be sure to check your application status online or consult your Relationship Manager for a clear timeframe specific to your case.

Can I open a Bank of China business account online?

Yes, BOCHK allows you to open a business account online if you meet the eligibility requirements. However, depending on your specific circumstances, you may still be required to visit a physical branch to complete the process.

Beyond Account Opening: How Wise Complements Your Bank of China (HK) Business Account

Having a local bank account is indeed important, and it can be said that BOCHK is an excellent local foundation for you. BOCHK has all you need to perform your daily business operation within the local market of Hong Kong, from several key branches to smart loan solutions.

But in the international market such as Hong Kong, you should also consider additional options as well, including those that are more global friendly. Products like Wise can be your global solution, especially if you constantly make cross-border transactions.

Here are other great features that come with a Wise Business account:

Simplified International Money Management

Wise can be a perfect alternative if you’re looking for something faster and less bureaucratic. Wise is entirely digital — there’s no need to visit any physical branches.

Managing your money is never easier. Simply use the Wise app or any web browser to access the Wise platform. Plus, enjoy receiving 23+ currencies with just one account, including local account numbers for 8+ major currencies, and you can receive local transfers for free. You can also send money to 140+ countries while tracking your payment in real-time!

Even better, you don’t have to open separate bank accounts in every country where you do business. With Wise, you can manage global payments and receive money like a local in multiple currencies – all from one account.

Transparent and Cost-Effective Cross-Border Payments

Open a Wise Business account online for free! You don’t need to pay any monthly fees to maintain your account either!

All fees from Wise are transparent, with real-time market exchange rates/ Wise will not hide any of your fees. Saving every penny for your business!

Multi-Currency Account

You can receive more than 40 currencies in your account, and easily switch to another currency whenever you need.

Efficient Mass Payouts and Integrations

Easily add team members to your account and work together on payments, download statements, and track transactions more efficiently. You can also create and send invoices, add your account details or payment links, making payments simpler and quicker.

Plus, just simply upload a CSV file – the system will process up to 1,000 payments at once. You can also integrate Wise’s API for fully automated payment workflows.

Wise is also regulated by different financial institutions worldwide, including Hong Kong.

Learn more about Wise Business

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Sources used in this article:

1. BOCHK: Business Account Opening Guide (applicable to SMEs)
2. BOCHK: Business Account Opening Documents for Hong Kong Incorporated Entity
3. BOCHK: General Banking Services Charges

Sources last checked on 18-August-2025